COLLECTIBLE toys retailer Pop Mart International Group, whose Labubu character toy sold in blind box format gained widespread popularity among Filipino enthusiasts, is considering expanding its presence in the Philippines, the Department of Trade and Industry (DTI) said on Tuesday.
In a statement, the DTI said representatives of the Chinese-owned company, led by its vice president Karen Chen, met with trade officials in Manila on April 10, where they presented Pop Mart’s development plans in the Philippines for this year.
The DTI did not disclose the number of stores to be opened nor the investment that these will entail, but Stephen Tan, president of SM Supermalls, said the company has been in talks with Pop Mart for its expansion in the Philippines, including the establishment of a full store format.
Pop Mart currently operates two pop-up or temporary stores in SM Makati and SM Mall of Asia.
“We work with them very closely, but (the partnership) is not exclusive to us. While waiting for the right space, they’ve come in pop-up format,” Tan said, without elaborating.
The DTI said aside from new store openings,
Pop Mart aims to collaborate with local business and Filipino creatives in developing new intellectual property and original designs and to come up with collectibles inspired by the local culture.
Pop Mart sells small figurines in so-called blind or mystery boxes. Information posted on its website shows blind box refers to the type of sealed packaging that keeps the contents of the toy a mystery until one opens it.
“The company aims to leverage its strong brand recognition and loyal customer base, driven by the popularity of plush toys and an aggressive overseas market expansion, particularly in Southeast Asia, which has seen a six-fold increase in revenue,” the DTI statement said.
In 2024, Pop Mart reported a 106.9 percent increase in revenue (13 billion yuan in 2024 from 6.628 billion in 2023) and a 185.9 percent surge in net profit (3.4 billion yuan in 2024 from 1.05 billion yuan in 2023) globally, it added.
The company was founded in 2010 by Wang Ning, who is ranked 280th in the Forbes Billionaires list in 2025 and 68th in China’s 100 Richest, also by Forbes, in 2024.
Pop Mart’s website says the company has more than 500 stores in more than 30 countries, including Europe, Southeast Asia and the United States. It also has more than 2,300 ROBOSHOPs and e-commerce stores.
Pop Mart’s roster spans dozens of iconic characters like Labubu, Molly, Dimoo, Skullpanda, and The Monster, Hirono.
The DTI said the Pop Mart delegation also met with officials of the Philippine Franchise Association, Board of Investments, Consumer Protection and Advocacy Bureau, Design Center of the Philippines and the Intellectual Property Office of the Philippines. They tackled regulatory frameworks, market entry requirements, intellectual property and potential collaboration opportunities.
