China toy giant Pop Mart (9992) expects its overseas sales to surpass domestic sales in 2025, according to founder Wang Ning.
In an interview with state-run newspaper People's Daily, Wang revealed the monthly sales of its flagship Labubu toys could potentially reach nearly 10 million units since September – citing overwhelming international demand.
He stressed that without proper operation and management on intellectual properties, no amount of money can create another Labubu.
Wang said IP-based enterprises tend to have longevity, and that the exploration of Labubu's story and value has only just begun as “more surprises are on the way” for fans.
He attributed Pop Mart's rapid rise to its open and inclusive IP platforms, which attracts outstanding artists and designers.
Wang also noted the sales growth rate has far outpaced the company's expectations.
Sales in North America are now likely to overtake those of Southeast Asia this year, he added.
Pop Mart earlier forecast its first-half revenue to surge more than 200 percent, with net profit expected to jump no less than 350 percent.
STAFF REPORTER
