Russians expended approximately 3.6 billion rubles on the Labuba brand within six months
Pop Mart International Group Ltd., the Chinese pop toy giant known for its Labubu dolls and other products, has made a significant impact in Russia. The company, valued at $15.38 billion as of January 2025, has seen its market capitalization soar to HK$332.84 billion ($42.4 billion) by June.
The Labubu brand, created by Hong Kong artist Kasing Lung, gained international popularity in 2024 and has since become a viral sensation in Russia. The series of charming, toothy characters has captured the hearts of Russians, leading to a surge in search interest. In March, search interest in Labubu was at a modest 2,500, but by June, it had skyrocketed to 6.2 million.
The North Caucasus republics, including Dagestan, South Ossetia, Kabardino-Balkaria, and Karachay-Cherkessia, showed increased interest in Labubu, with search query indicators above the Russian average. The absolute leaders in online toy searches for Labubu were Moscow and St. Petersburg.
Under this brand, Pop Mart plans to produce and sell toys, merchandise, cosmetics, electronics, bags, clothing, and other goods in Russia. The company has already filed a trademark registration application in Russia, a testament to its commitment to the market.
The Labubu toy phenomenon in Russia is a typical example of a modern viral consumer trend developing in a digital environment. In the first half of 2025, the total revenue of Labubu toy sellers in Russia was nearly 3.6 billion rubles. The peak day for Labubu sales was June 27, with a total of 480,000 toys sold nationwide for 155 million rubles. A total of 4.25 million "monsters" were sold in Russia in the first half of 2025.
In comparison, the market capitalization of Russia's most valuable public companies, Lukoil, Novatek, and Gazprom, were 4.24 trillion rubles ($44.51 billion), 3.29 trillion rubles ($42.13 billion), and 3 trillion rubles ($38.77 billion) respectively, highlighting Pop Mart's impressive growth in the Russian market.
The success of Labubu is also reflected in the personal wealth of its founder, Wang Ning. Wang Ning became the youngest billionaire in China, with an estimated net worth of $22.3 billion at the beginning of July 2025.
As Labubu continues to captivate the hearts of Russians, it remains to be seen how far this viral sensation will go. With Pop Mart's ambitious plans and the enduring appeal of its charming characters, one thing is certain: Labubu is here to stay.
Sources: Zen Zen.News, Telegram, VKontakte.
Note: Soyuzmultfilm also filed a trademark application for "Cheburashka" (separate from the Labubu article).
