POP MART, a Hong Kong-based company specializing in collectible designer toys packaged in blind boxes, has maintained its upward trajectory after expanding beyond the mainland market. The brand’s selling point is the blind box concept, where you can choose a theme, but the actual figurine inside remains a mystery until opened. It’s akin to gambling, but with a guaranteed reward.

POP MART collaborates with local artists to introduce various series and themes. The most popular is the LABUBU character from The Monsters lineup, created by the Hong Kong designer Kasing Lung. The little guy has spiky teeth and a mischievous grin, dressed in different costumes – if you’re lucky, you might even score a limited edition. Another fan favorite is the Skullpanda series, with an edgy and gothic aesthetic.

Last year, Lisa from BLACKPINK showed off her LABUBU keychain hanging from her handbag. Since then, the cute and creepy little monster has captured not just people’s hearts but also their wallets. POP MART recently reported an impressive 107% sales growth in 2024, reaching a revenue of 13.04 billion RMB ($1.8 billion USD). 

While most of the purchasing power is concentrated in Asia, POP MART has made an effort to expand overseas. Its vending machines – known as Roboshops – and staffed outlets have been popping up internationally to tap into the Western market. POP MART has also collaborated with mainstream franchises, such as Harry Potter, Disney, and One Piece, to further its reach.

The blind box craze has taken over Chinese toy manufacturers beyond just POP MART. The “blind” aspect adds a layer of suspense and anticipation, making the element of surprise just as valuable as the toy inside. Enthusiasts often purchase multiple boxes to acquire their desired figure. But the trend isn’t without criticism, with some calling out blind box sellers for promoting gambling behavior.

Seeing POP MART’s success, other Chinese toy manufacturers have followed the blind box toy trend. Brands like TNT SPACE offer a wide range of collectible toys with cutesy pastel designs. There’s also Top Toy, which has collaborated with well-known labels such as Sanrio and Toy Story. Neither brand have expanded beyond China yet, but whether they will challenge POP MART’s dominance in the designer toy market remains to be seen.

Cover image via RedNote.