The rising popularity of the trend toy market has brought LABUBU to a new height, with a landmark auction pushing the value of Pop Mart’s stock to an all-time high.
Global Debut of LABUBU Collectibles: Record-Breaking Auction Results
On June 10, the Yongle 2025 Spring Auction kicked off with the world’s first exclusive LABUBU collectible art auction. The standout piece—a one-of-a-kind mint green LABUBU standing 131cm tall—became the center of attention. Made from PVC material and marked as “the only one in the world,” its scarcity was undeniable. After intense bidding, it sold for an eye-watering 1.08 million RMB. Another limited edition brown LABUBU, with only 15 pieces worldwide, also sold for a remarkable 820,000 RMB.
Both of these collectible LABUBUs were designed by Hong Kong-based artist Long Jiasheng and belong to Pop Mart’s “THE MONSTERS” series. These pieces are not only a testament to the artist’s creative vision but also to the evolution of the trend toy industry. Their exceptional craftsmanship—from intricate details to color choices—contributed to their impressive sale prices.
Stock Surge: Pop Mart’s Market Value Hits New High
The success of the LABUBU collectibles at the auction immediately impacted Pop Mart’s stock price. Fueled by the news, the company’s stock surged 4.5%, hitting a new all-time high of 262 HKD. By the close of trading, the stock finished at 258.8 HKD, up 3.19%. Year-to-date, Pop Mart’s stock has risen approximately 186%, with a market capitalization surpassing 336.8 billion HKD.
Deutsche Bank analyst Jessie Xu published an optimistic report on Pop Mart’s future, raising its target price to 303 HKD, with a projected 2025 net profit of 7.91 billion RMB. The report highlights LABUBU’s cross-cultural appeal, suggesting immense market potential, especially in Europe and the U.S., where Pop Mart’s penetration is still in its early stages.
LABUBU’s Global Success: A Case Study in Design and Business
In recent years, LABUBU has achieved a global phenomenon. The Labubu 3.0 series, launched in late April, performed particularly well overseas. In the U.S. and U.K., the release price was more than double that in China, yet demand still far exceeded supply. On second-hand platforms like StockX, rare blind box editions of Labubu were reselling for thousands of dollars, with markups as high as 100 times. According to a Bank of America Merrill Lynch report, the Labubu 3.0 series has seen an 8-fold and 5-fold year-on-year sales increase in the U.S. and Europe, respectively.
LABUBU’s appeal extends beyond regular consumers, capturing the attention of many celebrities. For instance, singer Hu Yanbin purchased a Labubu x Vans limited edition for 28,009 RMB, originally priced at 599 RMB, sparking widespread discussion. The resale price of this figure reached nearly 50,000 RMB on secondary platforms.
The frenzy for LABUBU has also been evident abroad. In Los Angeles, consumers queued as early as 3 a.m. to get their hands on the figure. In the U.K., the high demand even led to chaos, prompting Pop Mart to temporarily halt sales there. Social media, especially TikTok, has been buzzing with over 1 billion views of Labubu-related content, as fans eagerly showcase their collections, change outfits, and even participate in “ugly Labubu” competitions, further fueling the toy’s popularity.
Behind the Success: The Immense Potential of the Trend Toy Market
The skyrocketing success of LABUBU has also boosted the wealth of Pop Mart’s founder, Wang Ning. According to the real-time Forbes Billionaires List, Wang’s net worth reached 20.3 billion USD as of June 8, making him the richest person in Henan.
Industry experts point out that LABUBU’s success is not only due to its unique design and brand strategy but also because it reflects the immense growth potential in the trend toy market. The toy’s distinct design, blending fashion, art, and more, caters to the younger generation’s desire for individuality. Moreover, Pop Mart’s savvy brand operations, from blind box marketing to cross-brand collaborations, have continually breathed new life into LABUBU.
Looking ahead, it will be crucial to see whether Pop Mart can continue expanding its market through IPs like LABUBU, further boosting its performance and extending its global reach. The buzz generated by the auction of the collectible LABUBU may be just one exciting chapter in Pop Mart’s journey, while the trend toy market’s future looks full of possibilities, driven by high-quality IPs like LABUBU.
