What is Pop Mart?
Pop Mart is the company behind Labubu, Molly, Dimoo, Skullpanda, and dozens of other designer toy IPs. Founded in 2010 in Beijing, they've grown into a global empire with 800+ stores, $5B+ in annual revenue, and a cultural footprint that rivals Disney in the collectibles space.
Their figures are sold primarily as blind boxes — sealed packages where you don't know which design you'll get until you open it. That element of surprise is the core of the experience. It's collecting meets gambling meets unboxing theater.
How blind boxes work
You buy a sealed box from a series. Each series has 12 designs, usually 10 regular and 2 rare variants. You don't know which one you're getting. The thrill is the reveal. Some people buy one box at a time. Some buy full cases of 12 to guarantee they get most of the set. And then there are the secret figures — the chase pieces with odds as low as 1 in 144.
The major IPs
Labubu — Kasing Lung (Hong Kong)
The monster with the grin that launched an empire. Over 600 designs across vinyl, plush, and mega formats. The first Pop Mart IP to hit 10 billion RMB in revenue. Labubu is to Pop Mart what Mickey is to Disney.
Molly — Kenny Wong (Hong Kong)
The original Pop Mart icon. A blonde girl with a permanent pout, created in 2006. Molly put Pop Mart on the map and remains one of the most recognized designer toy characters globally.
Dimoo — Ayan
A dreamy boy with a cloud on his head. Launched 2019, surpassed Molly in sales by 2021. Known for fairy tale and fantasy-themed series with ethereal color palettes.
Skullpanda — Xiong Miao
Dark gothic aesthetic meets time travel. Launched 2020. Appeals to collectors who want something edgier and more artistic than the cute mainstream. Strong resale market.
Hirono — Lang
A stubborn boy confronting the world. Coming-of-age narrative. Launched 2021. Popular with collectors who connect with emotional storytelling over pure cuteness.
Pucky
Cute meets dark since 2018. Baby-like characters with an undercurrent of weirdness.
Crybaby — by Molly (the artist)
Rising star of 2025-2026. Emotional, vulnerable characters with tear-streaked faces. The 'quirky-cute' aesthetic that's challenging Labubu's dominance among younger collectors.
Rarity tiers and odds
Common / Regular — 70%
The standard designs in the series. Easy to pull, trade value is close to retail. These are the base of every collection.
Rare — 25%
Better designs, often with more detail or special colorways. You'll usually get 2-3 per full case of 12 boxes.
Secret — 1-3%
The chase figures. 1 in 72 or 1 in 144 odds depending on the series. These are the ones that make collectors scream when they pull them. Resale value: 5-20x retail.
Ultra Secret — <1%
The mythical pulls. 1 in 288 or 1 in 720 odds. Glow variants, metallic finishes, one-of-a-kind colorways. Some sell for $1,000-2,000+ on the aftermarket.
Aftermarket value
The Pop Mart secondary market is massive. Secret and ultra-secret figures command serious premiums. Even common figures from discontinued series can appreciate over time.
- Rarity tier — secret and ultra-secret command 5-20x retail
- Series popularity — Labubu and Skullpanda hold value best
- Condition — sealed with card vs opened makes a big difference
- Celebrity endorsement — when Lisa from BLACKPINK wore a Labubu, prices doubled overnight
- Collaboration releases — KAWS, Sanrio, Disney collabs are aftermarket gold
- Regional exclusives — Japan-only or event-only releases are inherently scarce