Labubu may look like just a plush toy monster, but it’s quickly turning into a billion-dollar business. Pop Mart, the maker of the viral toy, reported that its Monsters series generated about US$670 million in revenue in the first half of 2025. At this pace, sales could exceed $1 billion by year’s end, outpacing iconic brands like Mattel’s Barbie and Hot Wheels.
Pop Mart’s latest earnings release show just how quickly the once-niche collectibles have grown into a mass-market phenomenon.
Whether you think of them as cute or creepy, the fluffy Labubu dolls have taken the world by storm. Created by artist Kasing Lung and popularized by Chinese toy giant Pop Mart, Labubu is now a global collectible. Long queues, fan frenzies, and even fights mark new releases. But how did a mischievous monster become a cultural icon and a symbol of modern Chinese creativity?
Click on to discover how Labubu conquered the world.