Labubu Mania Sends Pop Mart Stock Soaring 190% – Can It Go Higher?

Pop Mart’s Stock Went Nuts—All Thanks to These Creepy-Cute Dolls

Let’s be real—nobody saw this coming. In the middle of all the economic doom and gloom, a Chinese toy company called Pop Mart just pulled off something ridiculous. Their stock shot up 190% this year, and guess what’s driving it? These weird little fanged dolls called Labubu. I mean, we’re talking 3.1 billion yuan ($427 million) in profit last year. Crazy, right? But here’s the thing—some folks are whispering this might be too good to last. Bubble territory? Maybe.

Why Everyone’s Obsessed With Labubu

Meet the Doll That’s Taking Over

So Labubu—it’s this oddball creature with giant eyes and fangs, dreamed up by some artist in Hong Kong. And get this—people aren’t just buying them, they’re losing their minds over blind boxes. You know, those mystery toys where you don’t know what you’re getting? Basic ones go for like $9, but the rare ones? Try $1,000+ on resale sites. TikTok’s flooded with unboxing videos—billions of views. Gen Z kids in Asia are treating these like the new Pokémon cards.

The Numbers Don’t Lie

Here’s where it gets wild—Labubu stuff made up 42% of Pop Mart’s sales last quarter. Up from just 28% two years ago. They did this one collab with Skullpanda that sold out in—wait for it—37 seconds. My friend Wei (who actually knows retail) put it best: “It’s not a toy anymore, it’s like jewelry for Instagram kids.” And those influencers? There’s this @DollQueen account with millions following her every post—she dresses them up, people panic-buy. Human psychology 101.

Breaking Down the Money Stuff

By the Numbers:

• Profits: 3.1B yuan—nearly triple last year
• Margins: 63% (because plastic is cheap, hype isn’t)
• Global push: 127 new stores, Southeast Asia going nuts with 240% growth

What Set Off the Stock Rally

Okay, story time—last November, they did this Labubu pop-up in Shanghai. People literally rioted. Then in March, they teamed up with Loewe (yeah, the fancy brand), and boom—market cap jumps from $5B to $14.5B. They’re worth more than Hasbro now. My broker friend Yu says it’s simple: “Take FOMO, add artificial scarcity, stir with social media.”

So… Is This Sustainable?

The Optimists

“America’s collectibles market is five times bigger than China’s. Picture Labubu hitting Target next year.”
— Some excited Morgan Stanley guy

The Skeptics

“P/E ratio’s at 48. One bad quarter and this could drop 30% overnight.”
— Citi’s nervous traders

Storm Clouds Ahead?

Not all sunshine—competitors like 52TOYS just got $150M in funding. China’s economy’s looking shaky. And that “Labubu Index” tracking resale prices? Down 12% since February. Reminds me of that guy on CNBC saying, “Y’all remember Beanie Babies?” Oof.

Bottom Line

Pop Mart’s playing the modern game perfectly—viral hype, manufactured scarcity, Instagram bait. The Labubu train’s still rolling, but smart money’s watching that 245 yuan stock level. Break that, and this plastic dream might get ugly. For now though? The dolls keep grinning, investors keep winning.

Your Turn

Team #Hype or team #CrashComing? Show us your rarest Labubu @InvestTrends. Want the full breakdown? Grab our free collectibles report—no blind box required.

Source: Livemint – Markets