In the toy industry, the "Made in China" label is no longer a stigma. Especially since brands like Pop Mart have taken the international toy scene by storm with affordable, trendy products that have sold in the millions. This giant of hyper-stylized figures has captured the attention of collectors and children alike around the world, largely thanks to social media, creating an intergenerational impact that many more "serious" industries would envy—as long as tariffs remain under control.
What Are They? Pop Mart produces these collectible figures, available for purchase through their website, in specialty stores in major global capitals, and even increasingly in vending machines. The figures come in series featuring various versions of the same character, making them highly collectible. The rise of cute aesthetics has extended their appeal beyond children, and their surprise-box packaging has made them a hit on social media.
Viral Impact. The power of social media to cross borders has undoubtedly given Pop Mart the push needed to gain recognition outside China. A quick search on TikTok reveals countless unboxing videos, where creators, many with hundreds of thousands of followers, express genuine surprise when opening the blind boxes.
A Clear Precedent: Funko Pop. Similar to Funko Pop, which has entered the mainstream with its standardized aesthetic and wide array of franchise tie-ins, Pop Mart introduces a unique flair in each of its collections. They also embrace franchise power, offering series dedicated to Disney, Harry Potter, SpongeBob SquarePants, Marvel, Barbie, and more.
The Importance of Designers. A feature distinguishing Pop Mart from the mass-produced appeal of Funko Pop is its support for the artists and designers behind some of its figure lines, lending an air of exclusivity. This commitment to artistic talent is reminiscent of Art Toys, high-end vinyl figures once considered the epitome of modern design. Featuring designers like Lang, Ayan Deng, Pucky, and Libby Frame, Pop Mart’s artist roster is impressive. Notably, Kasing Lung has created Labubu, one of Pop Mart’s most recognized properties.
Labubu Reigns. Labubu, resembling a mischievous monkey with a devilish grin, has become Pop Mart’s best-selling property globally. Part of the larger "The Monsters" collection, it generated $419 million in revenue last year. However, in China, the cat-girl Molly, created by designer Kenny Wong, remains the top star, showcasing Pop Mart’s knack for spotlighting their talent.
Blind Beginnings. Founded in 2000 by the 38-year-old entrepreneur Wang Ning, Pop Mart has become a household name in China in less than fifteen years. By 2024, their stock rose by 370%. Their success is exemplified by the opening of Pop Land, an amusement park in Beijing spanning 40 square kilometers, in September 2023. It’s their global expansion that truly garners attention.
International Boom. As reported by Time magazine, by the end of last year, 130 out of Pop Mart’s 530 stores were located outside China, with the first Spanish store opening in Barcelona. In 2024, their international sales profits surged by an extraordinary 375%, reflecting significant growth in Europe and the United States. The company’s financial report indicates $1.8 billion in profits for 2024, with 40% coming from outside China.
Viral Surprise Boxes. A significant component of Pop Mart’s success lies in its blind boxes. The thrill of the hunt, particularly for special figures not listed in catalogs and appearing in one out of seventy-plus boxes, combined with a guarantee of no duplicate surprises, drives excitement. Purchasing a complete set of six comes with the assurance that there will be no repeated figures, highlighting the viral potential and commercial hook of these products.
The Chinese Toy Invasion. Pop Mart isn’t alone in the race to captivate influencers and collectors. Its fiercest competitor, Top Toy, was founded more recently in 2020 by Miniso, a Chinese low-cost retail chain. With profits reaching $134.84 million in 2024, Top Toy focuses on licensed properties and boasts figures from 40 different IPs. With plans to open a thousand stores worldwide in the coming years, the future of the toy industry is clearly leaning towards a Chinese-domination play.
Header image by Choo Yut Shing on Flickr.
_For more on geo-economic strategies, check Xataka’s article: "If China
