Aug 20, 2025: Pop Mart chief executive Wang Ning said on Wednesday that his toy company was on track to meet its targeted revenue goal of 20 billion yuan ($2.78 billion) in 2025 and that "30 billion this year should also be quite easy”.

Wang was speaking with analysts following Pop Mart's record half-year results on Tuesday. The company's ugly-cute Labubu dolls saw a surge in demand, particularly in higher-margin overseas markets, which led to a nearly 400 percent increase in net profit. Labubu, a toothy-grinding member of Kasing Lung's "The Monsters" line of toys, has become a hit with celebrities like Rihanna and David Beckham and sold out all over the world. Until now, most popular as a charm for handbags, Pop Mart says it will this week launch a mini version of Labubu that can be attached to phones.

Pop Mart executives also said on Wednesday that expansion in emerging markets in the Middle East, Central Europe and Central and South America was being explored.

Wang stated that Pop Mart will begin a period of "relatively rapid store openings" over the course of the next year or two in the United States, where the company has approximately 40 locations.

Pop Mart's primary business is the production and sale of collectible toys. Many of these toys were developed in collaboration with artists and are sold in "blind boxes," which are packages that customers buy for between $10 and $20 but in which they have no idea which version of the toy is inside.

The company is also looking into content and entertainment options and believes that Pop Mart characters could star in animated films and theme park attractions, even though neither of these are expected to generate a lot of direct revenue right away.