Who Owns Labubu?
Labubu is owned by Pop Mart, a Chinese collectible toy and art toy company. Labubu is a popular collectible art toy brand featuring distinctive character designs. The brand is headquartered in Beijing, China and has gained significant popularity globally.
Parent Company
Pop Mart
Founded
2015
Status
Publicly Traded
Headquarters
Beijing, China
Who Owns Labubu?
- Parent Company: Pop Mart
- Ownership Type: Subsidiary
- Company Type: Publicly Traded
- Stock Ticker: Hong Kong: 9992.HK
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Labubu | Pop Mart | Subsidiary |
History of Labubu
- Founded: 2015
- Founders: Pop Mart (internal development)
Labubu was created by Hong Kong-based artist Kasing Lung, who designed the character as part of his "The Monsters" series. Kasing Lung is a Belgian-born Hong Kong illustrator and artist known for his distinctive style blending Eastern and Western influences. The Labubu character, with its distinctive pointy ears, wide eyes, and mischievous grin showing sharp teeth, was inspired by Nordic mythology and fairy tale creatures.
Pop Mart, the Chinese collectible toy company, partnered with Kasing Lung to produce and distribute Labubu figures as part of its artist collaboration model. Pop Mart's business model involves partnering with artists and designers to create collectible toy lines, handling manufacturing, distribution, and retail while the artist retains creative ownership. The Labubu figures were first produced by Pop Mart around 2019 as part of this collaboration.
Labubu gained significant mainstream attention in 2023 and 2024 when BLACKPINK member Lisa was photographed wearing a Labubu keychain on her luxury handbag. Lisa's social media posts featuring Labubu went viral, triggering a global wave of demand for the toys. The celebrity endorsement transformed Labubu from a niche collector's item into a mainstream fashion accessory, with fans attaching the plush figures to their handbags as a status symbol.
The viral moment created extraordinary demand that far exceeded supply, with Labubu figures selling out instantly at Pop Mart stores and commanding significant premiums on the secondary market. Limited edition Labubu releases began generating queues outside Pop Mart stores and crashing the company's app when new drops were announced.
By 2024, Labubu had become one of the most recognizable collectible toy brands globally, with Pop Mart reporting that the "The Monsters" series (which includes Labubu) was one of its top revenue-generating IP categories. The brand's success has been a major driver of Pop Mart's international expansion.
About Pop Mart
Pop Mart operates as a collectible toy and art toy company specializing in designer toys and blind box collectibles. The company designs, manufactures, and distributes toys globally.
In 2026, Pop Mart continues to lead the Chinese collectible toy market with significant growth in revenue and global expansion. The company was founded in China in 2010 by Wang Ning, with its first store opening near Beijing's Zhongguancun in 2010. In 2014, the company discontinued other product lines and focused exclusively on toys, growing to 288 outlets and 1,800 vending machines across China. Pop Mart's success in the blind box format led to a $676 million listing on the Hong Kong Stock Exchange in 2020, valuing the company at around $7 billion at the time, though its share price later declined below the offer price as revenue growth slowed.
In 2024, Pop Mart's revenue reached an all-time high of RMB 13.04 billion, representing a 106.9% year-over-year increase, with further growth in the first half of 2025 driven by booming global demand for its collectible figures and plush toys, especially the Labubu-led "THE MONSTERS" IP line. The plush toy category, led by characters such as Labubu and Skullpanda, experienced rapid year-on-year growth and became a significant contributor to Pop Mart's total revenue. The company's success has spawned multiple rival blind box toy companies in China, while some equity analysts have expressed skepticism at the company's ability to expand into Western markets.
Pop Mart has aggressively expanded beyond mainland Chinese markets, with plans to open between 40 and 50 overseas outlets. The company first expanded to the U.S., New Zealand, Australia, South Korea, Taiwan, and the U.K. in 2022, followed by expansion to Malaysia and France in 2023, and opened its first Philippine store in 2024. Company executives have described developing the Western growth market as the company's "most important development focus" and argue that the company's product offering is differentiated from existing Western markets. Pop Mart's initial marketing strategy engaged with youth culture trends in China, selling toys in price ranges between 29 and 89 yuan, and has continued to leverage this approach while expanding globally.
- Founded: 2010
- Headquarters: Beijing, China
- Company Type: Publicly Traded
- Stock: Hong Kong: 9992.HK
Where Is Labubu Made / Based?
- Headquarters: Beijing, China
- Manufacturing / Operations: China
Labubu Ownership: Pros & Cons
Advantages
- +Backed by Pop Mart's design and manufacturing expertise
- +Strong brand recognition among collectors
- +Global distribution network and retail presence
- +Limited edition releases driving collector demand
- +Growing popularity and market presence
Considerations
- -Intense competition in collectible toy market
- -Market volatility affecting collector demand
- -Secondary market pricing fluctuations
- -Dependence on limited edition release strategy
- -Maintaining brand exclusivity and appeal
Frequently Asked Questions About Labubu
Competitors to Labubu
No direct competitors found in the same category. This could be because Labubuoperates in a unique market segment or we're still building our competitor database.
Pop Mart Stock Information
Jobs at Pop Mart
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