Labubu hype led to Pop Mart’s record-breaking first-half revenue of $1.93 billion—surpassing the Beijing-based retailer’s total sales for all of 2024.

Wang Ning, billionaire founder of Chinese toy maker Pop Mart International Group, said the company could “easily” reach 30 billion yuan ($4.2 billion) in sales this year.

Pop Mart, the Chinese company that produces Labubu toys, saw its profits increase in the first half of the year driven by its global success.