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Pop Mart is preparing to open a store at Tysons Corner Center, bringing the company behind the wildly popular Labubu collectibles to the mall as soon as the fourth quarter.
The first-floor storefront, near GameStop and Wasabi, is now hidden behind a construction wall announcing that the retailer is “coming soon.” Although no opening date has been set, the schedule could put its debut within the Christmas shopping season.
“This location is currently scheduled to open in Q4, and we will have more info to share closer to then,” Pop Mart Americas spokesperson Marco Negrete said by email.
The Tysons shop will be Pop Mart’s second location in the Washington region, following a Pentagon City opening last November. The company has already installed two of its “Robo Shop” vending machines at Tysons Corner Center—one near Barnes & Noble and another in the third-floor food court.
Founded in Beijing in 2010, Pop Mart operates more than 500 stores and 2,300 Robo Shops across 30 countries. It also runs a toy exhibition launched in 2017 and a theme park established in Beijing in 2023.
The company entered the U.S. market with a Costa Mesa, California, pop-up in 2022. Its first permanent American store opened at the American Dream mall in East Rutherford, New Jersey, in September 2023.
Pop Mart sells artist-designed toys and collectibles, including original characters and licensed figures created through partnerships with Disney, Marvel, Sanrio and other companies. Its offerings include familiar characters such as Baby Yoda and Hello Kitty.
Labubu, a grinning monster character with long, bunny-like ears, has become the retailer’s standout attraction. The dolls gained international popularity beginning in 2024, propelled by social media and appearances on celebrity handbags.
That success has also brought scrutiny. Chinese authorities have targeted counterfeit Labubu products, while investors have questioned whether Pop Mart depends too heavily on a single hit.
The company’s Hong Kong shares fell nearly 23% on Wednesday, March 25, despite Pop Mart reporting the equivalent of $5.4 billion in 2025 annual revenue—a 185% increase over the previous year. Even after the sell-off, its shares remained up 33% over the preceding year.
Characters from “The Monsters,” the Pop Mart intellectual property that includes Labubu, generated roughly 38% of the company’s revenue.
Morningstar equity analyst Jeff Zhang said reliance on Labubu likely contributed to the stock decline. He said investors’ biggest concern remains future earnings growth, though the Labubu frenzy is probably “yet to cease.”
“Labubu’s popularity has been a huge success,” Natixis senior economist Gary Ng said. “However, there is an emerging concern that there is no second growth driver.”
Ng warned that slowing momentum for Labubu and related products could create a concentration risk and weaken investor sentiment. Pop Mart’s other characters include Molly and Skullpanda.
CEO Wang Ning addressed those concerns during an earnings conference, acknowledging questions about whether Labubu is merely a craze vulnerable to sharp fluctuations.
“However, based on our observations, we are pleased to see that it is becoming a lifestyle for more and more people,” Wang said. “We have strong expectations and confidence for [its] future.”
Pop Mart is also seeking to extend Labubu beyond collectible toys. The company recently confirmed a partnership with Sony Pictures Entertainment for a movie featuring the character.
Meanwhile, it continues to expand its international reach and production capacity. In addition to China, Pop Mart works with manufacturing partners in Cambodia, Indonesia and Mexico.