Pop Mart shares jumped more than 5% in afternoon trading as founder Wang Ning said LABUBU production ramping up in CCTV interview.

Pop Mart was founded in 2010, originally as a trendy multi-brand retail store. As founder Wang Ning deepened his understanding of product categories, he decided to phase out all other merchandise and focus exclusively on the designer toy segment. By combining innovative artistic design with strong IP operations, Pop Mart has grown into a rising force in the pop culture industry.

As of the end of last year, Pop Mart had accumulated over 46 million registered members in mainland China and operated more than 400 stores domestically. The company continues to expand its global footprint, bringing Chinese designer toy IPs to the world stage. Wang Ning stated that while the original goal was to become “China’s Disney,” the new vision is to become “the world’s Pop Mart” — a next-generation global Chinese consumer brand.

Wang Ning said that LABUBU has explosively become a world-class pop culture IP, with demand far outstripping supply. “We’ve been doing everything we can to optimize our supply chain. Production capacity has been increasing every month — it doubled from last month, and we expect a significant boost again next month. But since LABUBU is a physical product with complex manufacturing processes, including hand stitching, it’s not easy to scale up quickly. Honestly, our sewing machines are practically smoking.”

Wang Ning stated that in 2024, Pop Mart's overseas revenue reached 5.07 billion yuan. This year, overseas sales are likely to surpass domestic sales, with North America expected to overtake Southeast Asia.