The creators of the globally adored Labubu toys have reached a staggering $40 billion valuation, cementing their place as one of the most valuable companies in the global collectibles and designer toy industry.
The success of Labubu — a mischievous, big-eyed forest creature from the Pop Mart x How2Work collaboration — has exploded across Asia, Europe, and North America, sparking frenzy among collectors and fans of art toys. Limited-edition drops, long queues outside stores, and instant online sellouts have become routine.
“Labubu is no longer just a toy — it’s a cultural phenomenon,” said Wang Ning, founder and CEO of Pop Mart, the company behind the brand.
- Created by: Artist Kasing Lung in partnership with How2Work
- Distributed by: Pop Mart, a Beijing-based toy and lifestyle company
- Valuation: $40 billion as of July 2025
- Key markets: China, Japan, Southeast Asia, USA, and parts of Europe
- Revenue Drivers: Blind box collectibles, global licensing, pop culture collaborations
The company’s unique blind box model — where customers don’t know which figure they’re buying — has driven massive demand and collector excitement, especially among Gen Z buyers.
From NFTs to theme park concepts, Pop Mart is now expanding the Labubu universe across multimedia platforms. The company has also launched flagship stores in London, Tokyo, and New York, and continues to dominate online sales through its app and e-commerce partners.
“What Disney did for Mickey Mouse, Pop Mart is doing for Labubu,” said collectibles market analyst Tina Kwan.
As global demand for art toys continues to surge, Pop Mart’s valuation reflects not just a toy empire, but a broader lifestyle and entertainment brand — and Labubu is leading the charge.
