Labubu Beats China's Panda Diplomacy Anytime
This Lunar New Year, a much sought-after gift has been a plush Labubu, an elf-like character with pointy ears and nine serrated teeth made by China's Pop Mart International Group Ltd.
With a mischievous smile on her face, Labubu is taking Southeast Asia by storm. The craze took off last April, when Blackpink's superstar Lisa shared her collection on Instagram. In Thailand, where the singer was born, a Labubu-themed store earned more than 10 million yuan ($1.4 million) on its opening day in July, while comments on the character and its maker have exploded on TikTok.
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