Pop Mart Profit More Than Doubles Driven by Labubu-Doll Craze
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Pop Mart International Group Ltd. said it will continue to expand its global footprint with focus on North America and Europe, after reporting profit that more than doubled last year thanks to the popularity of its Labubu dolls adored by celebrities.
“By developing physical stores in globally iconic locations, we aim to enhance brand experience and recognition,” according to an exchange filing. It will also look at strengthening cooperation with artists and brands to promote the “cross-boundary integration of pop culture,” the maker of Labubu dolls said.