$POP MART(09992.HK)
🧸 The “Post-Labubu” IP Shift: The Rise of Twinkle Twinkle 🚀
How does Pop Mart keep winning? It is not just about one hit. Pop Mart is building a powerful IP portfolio machine! 😉
The below infographic shows how they have moved beyond relying on a single star like Labubu to create a diversified “Portfolio Moat.” 🏰
H1 2026 Highlights:
✨ Twinkle Twinkle Explodes: While Labubu normalized to 26% of revenue, the new star IP surged 580.6% YoY — becoming the fastest-growing new hit! 🚀
🧸 Plush Goes Lifestyle: Plush sales rose 60%, turning characters into wearable, carry-everywhere accessories — not just desk toys!
💰 The RMB 1 Billion Club: 6 different IPs each topped RMB 1 billion in just six months, including Crybaby, Skullpanda and Dimoo. 💸
The Secret Sauce: Profits from established hits fund the next generation, a self-reinforcing cycle that keeps new stars coming. Pop Mart is not just hunting for one lucky hit, they are building an assembly line for now and future success. 🔧
📊Please refer to the infographic for the full story! 👇
Not financial advice. Do your own DD.
