POP MART Founder Wang Ning Now Richest Person In China's Henan Province
According to reports, the founder and CEO of Pop Mart International Group recently saw an increase in his net worth. As reported on the Forbes website, Wang Ning's net worth recently jumped by US$1.4 billion (approximately RM5.9 billion), and he's now worth US$ 21.7 billion (approximately RM88 billion). With this new net worth, the 38-year-old is now the wealthiest man in Henan, China.
Forbes attributes Wang Ning's wealth to the success of his toy company, founded in 2010. The brand, known for its figurine blind boxes, became a publicly listed company in Hong Kong in 2020. POP MART boasts a variety of products from different series, including Dimoo, Skullpanda and Molly. However, its most popular character is Labubu, which debuted under the company in 2019.
The Labubu character is the brainchild of Hong Kong artist Kasing Lung (龍家昇), who designed the character in 2015. The artist's partnership with POP MART in 2019 helped popularise the character and the accompanying 'Monsters' line. However, Labubus only became a sought-after collectable after BLACKPINK's Lisa was spotted with a Labubu keychain on her bag, sparking a trend in Southeast and East Asia.
POP MART currently operates over 500 stores worldwide, with 100 overseas outlets. In Malaysia, there are seven POP MART outlets, including the largest store in The Exchange TRX. Surprisingly, Wang Ning revealed that the company's overseas business sales could exceed 50% by the end of 2025, surpassing its domestic Chinese sales. This revelation hints at POP MART's growing global popularity.
With new collaborations and launches happening every month, it won't be long before Wang Ning's net worth increases again. What are your thoughts on this?
Sources: Oriental Daily, Forbes
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