The Labubu company sees the profit increasing by at least 350%

Pop Mart, the Chinese toy company behind the extremely popular labubu dolls, has announced that their profits will increase in the first six months of this year.

The company based in Beijing expects the profit to increase by at least 350% for the period, since the income is more than tripled.

Pop Mart, who has a stock value of more than $ 40 billion (31.6 billion GBP), also said that profitability has increased by increasing recognition of the brand worldwide and cost controls.

The collectors were obsessed with the viral labubu dolls -fictional eleven -like creatures with a number of jagged teeth -which flew on the shelves and triggered long queues in shops worldwide.

Pop Mart is best known for selling toys in “Blind Boxes” – a kind of packaging that hides its content until it is open. Marketing tactics were criticized because it promotes game-like behaviors and compulsive purchase.

Labubu Dolls was launched in 2019 and helped the company to become a large retailer who operates more than 2,000 machines and shops all over the world.

Pop Mart started selling her shares on the Hong Kong Exchange in 2020. The company's stock market assessment rose by almost 600% last year.

Almost 40% of the total turnover in 2024 contributed to the outside of the Chinese mainland.

Many shops all over the world had to pause for the sales of Labubu dolls due to the overwhelming demand.

Labubu picked up in the United States, especially in the USA, by locking up celebrities like Kim Kardashian and Lisa from the K-Pop Group Blackpink.

Pop Mart's partnerships with big names such as Coca-Cola and the manga franchise-one piece have also increased the profile of Labux around the world.

In June, Lababu's sales in the USA rose by 5,000% compared to the previous year, according to estimates by the stock research company M Science.

“I haven't seen anything like that of other toy companies,” M Science Senior Anior Analyst Vinci Zhang told BBC.

The company has great potential in the United States, where there were around 40 shops compared to around 400 in China, he added.

The shopping frenzy has created a booming resale market on which the dolls, which were originally sold at around 10 US dollars, can bring in dollars up to hundreds of dollars.

In June, a Labubu sold $ 150,000 at an auction in Beijing.

Labout popularity has also fueled a boom into counterfeits, which is often referred to as Lafufu dolls.

In June, the Chinese authorities confiscated more than 46,000 fake labubu toys because they act against a growing black market for the dolls.