Pop Mart
Character toys and collectibles (designer IP, own stores) · China
Pop Mart creates collectible character toys such as LABUBU, MOLLY and SKULLPANDA with artists it signs, and sells them in blind boxes and plush through its own stores, vending machines, app and online shops in about 100 countries.
What makes it different
One family of monsters made 38% of sales.
38.1%THE MONSTERS share of revenueFY2025
LABUBU and THE MONSTERS turned a China toy shop into a global brand, so one character line drives much of the profit.
How big it is
How big is Pop Mart?
400MToys soldFY2025
630StoresFY2025
RMB37.1BRevenueFY2025
How it makes money FY2025
Plush and figure toys of its own characters.
- Plush toys50%RMB18.7B
- Figure toys32%RMB12.0B
- MEGA collectibles5%RMB1.9B
- Other IP products and others12%RMB4.5B
How the business works
Sign artists. Own characters. Sell surprises.
- 1Artists and their characters
- 2Blind boxes and plush
- 3Own stores, machines, app
Owning the characters and the shelves keeps a 72% gross margin and the fan data in-house.
Who owns it
- GWF Holding Limited (trust of founder Wang Ning, trustee UBS Trustees (B.V.I.))41.78%
CEO: Wang Ning
Who it competes with
Key moments
- 2010Founded with a first store in Beijing
- 2016Molly Zodiac blind boxes launched
- 2017Cashier-less roboshops launched
- 2020Listed in Hong Kong
- 2023POP LAND theme park opens in Beijing
Sources
Every number on this page comes from Pop Mart's own reports.
Full profile
The rest of the story is in the app.
What Pop Mart tracks17 metrics
Retail stores worldwide
Roboshops
Products sold
Results, quarter by quarterwith a chart
Revenue
Profit
Margin
Where the money comes from4 regions
China
Asia Pacific
Americas
The full timeline15 moments
2023
2025
2026
Pop Mart vs Mattelside by side
Revenue
Profit
People
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