China's POP MART Targets $4 Billion In Sales This Year
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Shares in Chinese toymaker Pop Mart saw volatile trading on Wednesday, a day after the company posted a near-400% surge in net profit, driven by booming global demand for its Labubu dolls. Pop Mart dropped as much as 4.7% before paring losses to climb above 2% as of 10.45 a.m. local time (10:45 p.m. ET Tuesday)
Lafufus are counterfeit versions of Labubus that have proliferated in the wake of the original's popularity, with everyone from street vendors to Facebook sellers either selling them outright as fakes or attempting to pass them off as originals in order to profit off the scarcity of the original.
The following blind boxes will be available for purchase Tuesday night, Aug. 19: Have a Seat Vinyl Plush Blind Box − Single boxes and whole sets will be available to order during launch. Exciting Macaron Vinyl Face Blind Box (pre-order) − Single boxes and whole sets will be available to order during launch. The estimated shipping date is Sept. 29.
If you're on the hunt for a Labubu doll for your child, be on the lookout for fakes - they come with an urgent warning!
Revenue outside mainland China jumped to US$778 million in the first six months, making up about 40 per cent of total sales.
In a financial report released Aug. 19, Pop Mart said it has seen a net profit of 396% and a 204% jump in revenues due to Labubus.
From now until Aug. 22, daily Labubu stock drops authenticated by StockX will go live on Walmart's website — here's how to get one