China’s Pop Mart says it is rolling out a mini version of its popular Labubu plush toys this month, along with a new long-fur version of the toothy little monster. The Labubu, by artist and illustrator Kasing Lung, first appeared with pointed ears and pointy teeth, in three picture books inspired by Nordic mythology in 2015.

Labubu has been a bonanza for Pop Mart. Its revenue more than doubled in 2024 to 13.04 billion yuan ($1.81 billion), thanks in part to its elvish monster. Revenue from Pop Mart’s plush toys soared more than 1,200 per cent in 2024, nearly 22 per cent of its overall revenue, according to the company’s annual report.

The Chinese toymaker Pop Mart is capitalizing on the runaway success of its ugly-cute Labubu dolls as it nears a $4 billion profit.