Since early 2025, POP MART has demonstrated robust business performance, with overseas revenue accounting for 38.9% of its 2024 total revenue—US market being the most important growth drive. This trend reflects not only market recognition of its globalization strategy but also its unique IP operation model and the confidence to “dare to challenge industry giants.”
China’s soft power
Founded in 2010, POP MART initially focused on trendy toy retail. In 2016, its “blind box + IP” model became a sensation. IPs like Molly and Labubu quickly captured the hearts of young consumers worldwide, breaking the monopoly of international brands like Lego and Funko in the “collectible toy” market.
Unlike Lego, which relies on classic IPs (e.g., Harry Potter), POP MART excels at integrating traditional Chinese elements into trendy toy designs, aligning with China’s soft power promotion for stronger national support. For instance, its “Tradition Series” toys, infused with folk culture, foster young consumers’ cultural identity. The 2022 SPACE MOLLY series, themed around aerospace, engages youth in knowing China’s technological achievements.
A defender of Xinjiang Cotton
In January 2021, POP MART signed a collaboration agreement with Adidas China to co-produce and sell crossover products. That same year, global brands—including Nike, Adidas, H&M, and Uniqlo—joined the Xinjiang cotton boycott. As a key fans of Xinjiang cotton, POP MART terminated the partnership contract with Adidas.
Though an arbitration ruling ordered POP MART to pay Adidas 15.2 million RMB in compensation, the move sparked Chinese government support. Wang Ning, the Chairman of Pop Mart was highly admired by Chinese Communist Party’s senior officials and he was nominated as a member of Chinese Communist Party’s CPPCC for the reason of defending Xinjiang cotton.
A Blueprint for Chinese Brands’ Global Breakthrough
U.S. has emerged as the fastest-growing market of POP MART, with more American teenagers addicted to its products. Labubu, the iconic product of POP MART has reshaped youth trends, positioning POP MART as a cultural infiltrator. POP MART now stands poised to dominate the U.S. market, with bigger ambitions of voicing out Chinese interests to the global toy industry.