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Pop Mart, the maker of the renowned Labubu dolls, is once again enjoying a surge in sales after dropping the mini versions of the fluffy toys in August.
The Chinese company revealed that its global revenue for the three months jumped by around 250% compared to last year.
Labubu's sales outside of China played a big role in the increase in revenue, as sales were up by more than 1,200% in America and over 700% in Europe.
These astonishing figures, alongside the recent overall sale surge for Pop Mart, have given it a stock market value of about $4.4 billion.
Pop Mart is best known for their marketing strategy of selling collectible toys in "blind boxes", encouraging fans and consumers to keep buying the item till they either have their favourite from the collection or own the whole set.
Labubu, the nine-toothed creature, became a pop culture phenomenon due to celebrity endorsements, including Kim Kardashian and BLACKPINK's Lisa.
Partnerships with major brands such as Coca-Cola and the manga franchise One Piece have also helped to boost Labubu's profile around the world.
Launched in 2019, Labubu dolls have helped Pop Mart become a major retailer, and the company began selling its shares on the Hong Kong Stock Exchange in 2020, with their price having risen by more than 280% since then.
