China's POP MART Targets $4 Billion In Sales This Year
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Pop Mart, a leading force in China's booming pop toy industry, reaffirmed on Wednesday its plans to aggressively expand overseas, as its first-half-year financial results revealed a dramatic surge in global sales.
Revenue outside mainland China jumped to US$778 million in the first six months, making up about 40 per cent of total sales.
Chinese coffee chains are popping up in New York. Chinese video games are generating billions. Even Chinese makeup, or "c-beauty," firms are expanding globally.
Pop Mart, the Chinese company behind the Labubu franchise, has sold $670 million worth of related products this year—more than iconic US toy lines Barbie and Hot Wheels.