A ranking that treats companies as if they were characters will get the industry wrong. POP MART, TOP TOY and 52TOYS all sell surprise-format toys, but they do not sell the same mix of products or report results in the same units. POP MART's 2025 revenue reached RMB 37.12 billion, up 185% year over year. That figure is a company total, not a blind-box-only total.
Source & Interactive Tier List Matrix: Originally ranked by OBPAI TierList (2026 Blind Box Brand Ranking). Interactive drag-and-drop rankings available on OBPAI.
This English edition follows OBPAI's September 10, 2026 company hierarchy and keeps brand names consistent: POP MART, TOP TOY, 52TOYS, Finding Unicorn, Toycity, Rolife and SURE FUN. It ranks companies, not IPs. LABUBU and Nommi belong in a character ranking; they appear here only when a filing uses them to explain a company's product mix. Licensed overseas IPs such as Sanrio or Chiikawa are not treated as if they were the manufacturer's original identity.
How the companies are ranked
2026 Company Ranking Framework
| Public filings | Annual results, interim reports and listing documents outrank marketplace claims. |
| Unit discipline | Revenue, GMV and market share are never mixed into one invented percentage. |
| Blind-box relevance | The company must actually sell sealed surprise products, even if that is not its only format. |
| Channel evidence | Stores, distributors and official catalogs count; anonymous dropshipping pages do not. |
| Collector risk | After-sales access, packaging identity and counterfeit pressure affect whether a brand is usable in practice. |
The comparison is imperfect because the businesses are imperfectly comparable. POP MART reports as a listed group covering artist IPs, plush, figures and retail. TOP TOY reports as a MINISO-backed pop-toy retailer with a growing proprietary-IP share. 52TOYS describes a broader collectible-toy business in which licensed IP and non-blind-box formats matter. A lower tier can mean thinner public evidence, not weaker sculpting.
2026 blind box brand tier list
S-TIER POP MART
POP MART remains the industry's public benchmark. Reuters reported 2025 revenue of RMB 37.12 billion, up 185% from RMB 13.04 billion in 2024. The company's 2026 interim results then showed RMB 17.1729 billion in first-half group revenue. Those figures include plush, figures, retail and other categories; they should not be read as if every yuan were a sealed vinyl box.
What makes POP MART S tier for collectors is not a single viral character. It is the combination of named artist-IP reporting, official product pages with dimensions and materials, and a distribution system that can be checked against packaging. THE MONSTERS, TWINKLE TWINKLE, CRYBABY, DIMOO, SKULLPANDA, HIRONO and MOLLY are IPs inside that system. They are not interchangeable with the company name.
If you need a documented pendant size or material stack before buying, POP MART is still the easiest major brand to inspect at listing level. That transparency is part of the ranking, not a claim that every series is equally well made.
A-TIER TOP TOY
TOP TOY is a different machine: a pop-toy collection-store network incubated inside MINISO Group. Its listing document reports 2025 revenue of RMB 3.5870 billion, up 87.9% year over year, and 334 stores globally as of December 31, 2025. Proprietary-IP income rose to 5.7% of revenue by year-end 2025. Nommi is the named proprietary IP with aggregate GMV above RMB 200 million during the disclosed track-record period.
A collector should keep those units separate. Store count describes reach. Revenue describes the company. Nommi's GMV describes transaction value inside one IP, not TOP TOY's entire profit engine. TOP TOY still sells a large share of third-party pop toys; ranking it as an A-tier blind-box company does not mean it has become a POP MART-style artist-IP factory.
For overseas buyers, TOP TOY and SURE FUN are the documented commercial home of Nommi and Maymei. Authenticity checks should follow current packaging, including older HiTOY-era stock produced before the branding transition.
B-TIER 52TOYS and Finding Unicorn
52TOYS has the third set of usable public numbers. A China Daily report on the company's 2026 plans, citing its prospectus, placed 52TOYS as China's third-largest IP toy company by 2024 GMV, with a 1.2% share, and reported 2024 revenue of RMB 630 million. Two limits follow immediately. First, 1.2% is an IP-toy GMV share, not a blind-box market share. Second, 52TOYS's own filings describe licensed IP and collectible formats beyond sealed character boxes, including transforming mecha and other categories.
Finding Unicorn belongs here as an artist-IP publisher rather than as a listed-scale retailer. Official and trade coverage dates the company to 2018 and ties it to IPs such as FARMER BOB, RiCO and ShinWoo. It does not have a POP MART-style 2025 or first-half 2026 revenue line in this ranking. It also should not be confused with MOLLY, which is a Kenny Wong character commercially associated with POP MART.
B tier is a mixed shelf: one company with a prospectus and a modest revenue base, and one publisher with a recognizable artist roster but no equivalent filing. Buy from documented series pages, not from the assumption that every art-toy company reports like a Hong Kong issuer.
C-TIER Toycity, Rolife and SURE FUN
Toycity remains in C tier because this ranking cannot attach a comparable 2025 or 2026 group-revenue figure to the name. Presence in retail catalogs is not the same as a public P&L. Treat each Toycity listing on its own terms: series, materials, odds card and seller documentation.
Rolife is easier to place historically. The company's official English timeline dates the Nanci character IP to 2019. That continuity matters for collectors who want a documented original line, but Rolife still lacks a like-for-like annual revenue disclosure in the same band as POP MART or TOP TOY. Nanci is the IP; Rolife is the company.
SURE FUN is the current studio name behind Nommi and Maymei, succeeding the earlier HiTOY branding. OBPAI is right to keep it out of the revenue-led top tiers: the strongest public number nearby is Nommi's GMV inside TOP TOY's filing, not a standalone SURE FUN income statement. The collector-facing point is narrower. Authentic Nommi and Maymei product can be bought through official channels or through Hi.toys, provided the series name, tag and packaging match the current rights-holder marks.
D-TIER Counterfeit blind-box factories
Unlicensed copies belong in D tier even when the box art looks close. Weak plastic, copied odds cards and missing after-sales support are the actual costs. A low price is not a bargain if the clasp fails, the face plate peels or the seller disappears after a defect claim.
Compare the company name, series name, manufacturer mark and seller identity before paying. Do not use one viral unboxing as proof of authenticity. If a listing cannot name the rights holder, it is not ready to be ranked as a brand.
Why these numbers cannot be mashed into one chart
POP MART's 2025 revenue and 2026 interim revenue are group results. TOP TOY's RMB 3.5870 billion is 2025 company revenue from a listing document, with a separate GMV figure for Nommi. 52TOYS's RMB 630 million is 2024 revenue, and its 1.2% figure is an IP-toy GMV share. Putting those four numbers on one bar chart would invent a market that none of the filings describe.
Matched to this article
More from POP MART
In-stock POP MART picks matched to this story first, then ranked for relevance, sales and availability.
How to shop by company instead of by hype
Start with the object, then the company
A 10 cm vinyl-plush pendant, a 20 cm keychain and a multi-joint doll are different purchases even if all three arrive in opaque boxes. Choose the format you can display or carry. Only then decide whether you want POP MART's documented artist lines, TOP TOY / SURE FUN vinyl-plush, or a smaller publisher's sculpt.
Use official specs when they exist
POP MART's public listings are useful because they often publish height, loop length and material stacks. SURE FUN and Hi.toys listings can do the same for Nommi and Maymei. If a company page gives only lifestyle photography and no size, you do not yet have enough information to compare it with a documented pendant.
Do not let store sales rewrite the industry ranking
The product cards below are selected from Hi.toys inventory using the last 12 months of net units sold, then filtered for in-stock blind boxes. A strong seller on this site is evidence of local demand. It is not evidence that the manufacturer overtook POP MART.
Keep authenticity boring
Check the exact series name, current brand mark and return terms. Older authentic Nommi or Maymei packaging may still show HiTOY because that was the studio name at the time of manufacture. A logo change is a research prompt, not automatic proof of a fake. A seller who cannot explain the change is a different problem.
Where Hi.toys fits
Hi.toys is a cross-border shop, not a ranked manufacturer. The useful collections for this subject are Blind Boxes, plus the IP shelves for Nommi, Maymei and Baby Three.
For the character-level view, see the 2026 Chinese Original Art Toy IP Tier List. For hangable formats, see the 2026 Plush Bag Charm Tier List.
Compare in-stock blind-box series by format, price and current availability.
Source & Interactive Tier List Matrix: Originally ranked by OBPAI TierList (2026 Blind Box Brand Ranking). Interactive drag-and-drop rankings available on OBPAI.