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In
2019 Lung struck a deal with Pop Mart, a company that caters to
toy connoisseurs and influencers, to sell Labubu figurines. But
it wasn’t until Pop Mart started selling Labubu plush toys on
key rings in 2023 that the toothy monsters suddenly seemed to be
everywhere.
Pop Mart said Friday that the mini-sized Labubu vinyl plush
pendant, which is part of The Monsters Pin For Love series, will
be available in various colors corresponding to letters of the
alphabet. They will cost $22.99 each.
The series also includes 30 letter pendant blind boxes, each
with a unique pattern and Monsters charm. They will be priced at
$18.99 a piece.
In addition, Pop Mart is launching the Rock the Universe vinyl
plush doll, which is part of The Monsters Big Into Energy
Series. The plush, which will have a pearl-and-alloy heart
necklace, will be the first of the Monsters to have long fur and
uses a specialized dyeing technique that ensures no two figures
are exactly alike. The dolls will cost $114.99 each.
All of the new products will be available starting Aug. 29 on
Pop Mart's website either for in-store pickup or shipping. They
will also be available on the company's app and its official
TikTok accounts.
Labubu has been a bonanza for Pop Mart. Its revenue more than
doubled in 2024 to 13.04 billion yuan ($1.81 billion), thanks in
part to its elvish monster. Revenue from Pop Mart’s plush toys
soared more than 1,200% in 2024, nearly 22% of its overall
revenue, according to the company’s annual report.
Earlier this week Pop Mart reported that its profit attributable
to shareholders skyrocketed almost 400% for the first six months
of the year. Revenue jumped more than 200% to 13.88 billion yuan
($1.93 billion). Revenue for the Asia Pacific region surged more
than 250%, while revenue for the Americas soared more than
1,000%.
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