The company behind the doll Labus records historic profits
(a year ago)Chinese toy company “Pop Mart”, known for the Labus dolls, has announced a huge increase in profits for the first half of this year. The Beijing company reported that profits have increased by 350 percent, while revenues have more than tripled. “Pop Mart” has market value from [...]
The Beijing company reported that profits have increased by 350 percent, while revenues have more than tripled. “Pop Mart” is worth a market value of over $40 billion.
Even though dolls Labus were marketed in 2019, they experienced rebirth during 2024. Hundreds of collectors, children, and adults are obsessed with them, proving that nearly 40 percent of the company's income this year comes from sales outside China.
Many shops around the world have been forced to suspend the sales of dolls Labus because of extremely high demand.
“Partnerships Pop Mart” with big names like Coca-Cola and One Piece have positively influenced Labus' success.
In June alone, sales of Labus in the United States increased by 5,000 percent compared to last year.
“We haven't seen anything like that in other companies”, analyst Vinci Zhang told the BBC.
Labus' great popularity has also promoted the growth of fake dolls known as “Lafu”
Chinese authorities confiscated over 46 thousand counterfeit dolls Labus during June alone, as part of a campaign to fight the growing black market of dolls. /Periscopi/