US EditionThis Gremlin-Looking Toy From China Is Proving to Be Tariff-Proof
- Pop Mart, a China-based toy distributor, experienced rapid growth in 2024 with strong sales in China and the US markets.
- This growth followed rising American interest in Asian cute culture despite trade tensions and anti-Asian sentiment during the pandemic.
- Pop Mart’s revenue outside China rose 375.2%, driven by Labubu toys generating 3 billion yuan, while new product launches cause long store lines worldwide.
- Following a 90-day US-China truce, tariffs dropped significantly, and Pop Mart pledged customers will not face additional customs fees despite trade war concerns.
- Citigroup expects Pop Mart to diversify supply chains, increase prices in the US, and expand globally, reflecting the brand’s resilience and luxury item status.
16 Articles
16 Articles
By Ramishah Maruf, CNN Naomi Lin’s favorite high-end accessory is incredibly popular, an acquired taste, and surprisingly resilient in the face of an onslaught of tariffs. No, it’s not Manolos or the latest Prada creation: It’s a gremlin-like stuffed animal. It’s a Labubu, a palm-sized Nordic elf with glowing eyes, sharp teeth, and a mischievous grin. Lin, a medical student in Nebraska, has dozens, and the one she carries in her Chanel bag is dr…
By Ramishah Maruf, CNN Naomi Lin’s favorite high-end accessory is incredibly popular, an acquired taste, and surprisingly resilient in the face of an onslaught of tariffs. No, it’s not Manolos or the latest Prada creation: It’s a gremlin-like stuffed animal. It’s a Labubu, a palm-sized Nordic elf with glowing eyes, sharp teeth, and a mischievous grin. Lin, a medical student in Nebraska, has dozens, and the one she carries in her Chanel bag is dr…
China's attempt to compensate for the damage of tariffs is receiving help from Generation Z, which is spending a lot on everything, from toys to bubble tea. China's youngest generation of buyers is mired in what analysts call emotional consumption, challenging widespread unrest in the Chinese economy. Generation Z's favorite brands, such as the Pop Mart International Group toy manufacturer, Laopu Gold Co. jewelry and the Mixue Group beverage cha…
China’s Pop Mart-loving Gen Z fuels big gains for investors
China’s attempt to offset the damage of tariffs is getting a helping hand from Generation Z, which is spending big on everything from toys to bubble tea. The country’s younger generation of shoppers is on a spree of what analysts call emotional consumption, defying a wider malaise in China’s economy. Revenues at Gen Z favorites such as toymaker Pop Mart International Group, jewelery firm Laopu Gold Co. and drinks chain Mixue Group have soared, f…
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