Meet Wang Ning, Pop Mart CEO who's viral Labubu doll made him one of China's top 10 billionaires with a $22.7 billion fortune
These blind boxes and limited-edition dolls have created huge demand, ranging from the long store lines to resale prices going into six figures. This viral craze has made founder of
Pop Mart International, Wang Ning, a top 10 richest billionaire in China with a net worth of more than $22 billion.
Labubu trend
makes Pop Mart founder Wang Ning
China's top 10 billionaires
Behind the dynamism of Pop Mart's explosive expansion is its 38-year-old founder, Wang Ning. A Zhengzhou University graduate in advertising, Wang opened the company's first store in 2010 in Beijing's tech district, Zhongguancun.
The store initially sold comics and phone accessories but shifted to collectible toys when Wang saw a gap in the market.
In 2016, he teamed up with artist Kenny Wong to introduce the Molly doll series, which turned out to be a business success. But it was Labubu that rocketed Pop Mart and Wang to the stratosphere. Wang is now
China's 10th richest man with a net worth of $22.7 billion
, according to
Forbes' Real-Time Billionaires List
.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
2025 年最紓壓的農場遊戲！無需安裝
東加：島嶼農場
立即播放
Undo
He is also the youngest member of China's elite billionaire club.
Labubu dolls
: From blind box toy to international sensation
Labubu dolls, with their unkempt hair, smiling faces, and alternative appeal, were created by Hong Kong designer Kasing Lung in 2019. Available in forms of plush toys, vinyl characters, and blind box mystery, the collectible series plays off the excitement of surprise and rarity. Customers usually have no idea what figure they'll receive until they unpack the box; a surprise that has been too tempting for Gen Z and millennial shoppers to resist.
From the unboxing on social media to streetwear combinations, Labubu dolls have gone mainstream. They have been seen up close with such celebrities as Rihanna, Dua Lipa, and BLACKPINK member Lisa, who have contributed to the doll's transformation from bohemian cult favourite into global fashion phenomenon.
Pop Mart becomes a $365 billion powerhouse thanks to Labubu
At the heart of this whirlwind success is Pop Mart International Group, the toy firm behind Labubu. Pop Mart has expertise in designer toys and blind box culture, combining art, collectability, and consumer psychology.
The company's success has been meteoric, largely owing to its skill in transforming toys into fashionable lifestyle products.
Pop Mart shops all over Asia and online websites often sell out in minutes, with resale prices of Labubu dolls reaching two to three times the original price. Some limited versions even sell for six-figure figures, such that they become highly sought-after amongst collectors.
Pop Mart was listed in December 2020 at a market cap of $12.5 billion, raising $676 million in its IPO on the Hong Kong Stock Exchange.
Ever since, its expansion has been proceeding at a remarkable rate. Shares have tripled, with just HK$365 billion in 2025 alone. Pop Mart, in its latest quarterly filing, reported a 170% year-over-year jump in sales, led by Labubu's aggressive growth. This expansion has prompted comparisons to business groups like Funko and even luxury fashion brands as far as cult-like status and customer loyalty are concerned.
How blind boxes and social media transformed Labubu into an international sensation
The trend is fueled by a combination of creative design, nostalgia, and healthy online communities, Pop Mart's brand executives say. Enthusiasts use social platforms such as TikTok and Instagram to post sophisticated display arrangements, exchange rare toys, and even dress up Labubu toys as accessories.
The blind-box model introduces a gamified experience consumers aren't merely purchasing a product; they're engaging in a game of fortune. Coupled with limited releases, seasonal drops, and celebrity promotion, Labubu has become a cultural phenomenon. Maybe due to its quirky looks, Labubu has been polarizing. Some have called it "creepy," "overhyped," or even "odd." Others see it as an ingenious combination of street culture and collectible art.
This divisive attraction has only spawned more attention, making every new drop a spectacle.
Also Read |
5,000-year-old dress discovered in Egyptian tomb reveals the ancient craftsmanship
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
44 minutes ago
- Time of India
Flat and fabulous: Why UFO peaches deserve a bigger bite in India
Like many Indians, I struggle to see the point of peaches. Yes, they look lovely, golden-red, suggestively curved and with that faint fuzz, but the taste of the varieties we usually get here is more sour than sweet. And why eat peaches when you can get mangoes? But people in temperate climates adore them. 'Shall I part my hair behind? Do I dare to eat a peach?' TS Eliot's lovelorn J Alfred Prufrock asked. 'Life is better than death, I believe, if only because it is less boring and because it has fresh peaches in it,' Alice Walker wrote. Then there's the peach scene in Call Me By Your Name (2017). All of which left me wondering how these feelings would have been much more intense with true that peaches are better for cooking. I have never tasted a mango dessert that hasn't seemed like a waste of perfectly ripe fruit. Mango jam destroys the fruit's flavour, but in peach jam, the acid wonderfully balances the sugar. Peaches are also good gently poached with sugar and a few cloves, preserved with brandy or baked in a pie. Frustrated with some dull peaches, I asked Urmila, who cooks for us, to use them for sansav , the Goa fruit curry made with sour mangoes or pineapples. The peach sansav was amazing, which reinforces my point: Mangoes are perfect, but peaches need then, I bite a flat peach and my certainties collapse. These are also called Saturn peaches , UFO peaches or doughnut peaches because of their bulbous disc shape. Another name came from a vendor in Mumbai's Crawford Market, where I first discovered them years ago. ' Woh jalebi peach dena ,' he called to his helper. That really captured their startling juiciness, an almost shocking gush of tangy sweetness that floods your mouth when you bite it. Your next feeling is: 'Why aren't all peaches like this?' Most articles about flat peaches ask this question, with no clear answer. I recently found them in Goa, which is a hopeful sign that they are spreading, but it still seems slow for such splendid fruit. They are imported and very expensive, but when people pay huge amounts for a trendy dessert, like the socalled Dubai chocolate bar, they could pay for something as good (and healthy) as flat it's true, are unwilling to pay high prices for fruits other than mangoes, but flat peaches are worth it. They are certainly better than other novelty fruits like dragonfruit or kiwi, which are also strikinglooking, but have no great scarcity of flat peaches is strange because the Chinese have grown them for centuries. In Edward Shafer's The Golden Peaches of Samarkand , he studies the Chinese trade in exotic fruits: 'Twice in the seventh century, the kingdom of Samarkand sent formal gifts of fancy yellow peaches to the Chinese court.' These were round, but later texts refer to flat ones called pai pien tau or 'peento peaches'. A US Bureau of Plant Industry bulletin from 1911 notes several excellent varieties, with red, yellow and white flesh, but laments the 'great difficulty in shipping bud wood of peaches…' Flat peaches are finallysuccessfully grown outside China, but for the fruit trade, that's not enough. What also matters is the ability to last well in transport and shops. The real secret to the success of Alphonso mangoes isn't just taste, but also their thick skin. Flat peaches were fragile, but recent breeding efforts have improved this. The growth of refrigerated transport, capable of handling delicate produce, has also are hand-picked and Western countries are cracking down on the migrant labour that does most of this work. I recently heard of US fruit farmers switching to nuts, which are easily mechanically harvested. Perhaps there's an opportunity for Indian hill farmers here. Less wedded to existing varieties and with better access to labour, could we start producing these truly perfect peaches?
Time of India
an hour ago
- Time of India
Dricus Du Plessis gets heartfelt support from fiancee Vasti Spiller after UFC 319 loss to Khamzat Chimaev
Dricus Du Plessis gets heartfelt support from fiancee Vasti Spiller after UFC 319 loss to Khamzat Chimaev (Image via Getty) Khamzat Chimaev came victorious over Dricus Du Plessis in the main bout of UFC 319, which was held at the United Center in Chicago, Illinois, USA on August 16, 2025, resulting in his loss to the champion. Chimaev started under command and kept it throughout the fight. With all of them rating 50–44, the judges gave him a unanimous decision, therefore crowning him the new champion. Though Du Plessis suffered, Vasti Spiller, his fiancée, sent him a sincere message. On Instagram, she called him '**My world.' Her words offered warmth and hope amid a tough moment for the South African fighter. Vasti Spiller supports Dricus Du Plessis after UFC 319 title loss to Khamzat Chimaev Vasti Spiller is more than just Dricus Du Plessis's fiancée; she's a boxing coach, entrepreneur, and photographer. After he lost the title to Khamzat Chimaev, she stepped in with kind and encouraging words on Instagram: 'My world. This is just the beginning.' She has been a strong presence in his life. She appears in UFC shows, including the embedded vlog during UFC 297, and frequently shares their special moments, like their engagement and family photos. Her unwavering support runs deep, whether during tough weight cuts or big fights. Vasti also works at his training gym, CIT Gym, as a boxing coach. She is an ambassador for B Loved Foundation, a charity, and runs Barauch Photography, focusing on wedding and couples' photos. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Simple Morning Habit for a Flatter Belly After 50! Lulutox Undo Her roles reflect how she's part of his world inside and outside the Octagon. Also Read: Khamzat Chimaev defends Baysangur Susurkaev and warns Eric Nolan in shocking UFC 319 presser clash with Dricus du Plesser clash with Dricus du Plessis Khamzat Chimaev dominates Dricus Du Plessis to win UFC middleweight championship in Chicago "Borz," Khamzat Chimaev, showed power against Dricus Du Plessis. Utilizing his wrestling and cardio, he dominated every second of the bout to eventually weaken the champion. Crowned the new middleweight champion, he received 50–44 from all three judges on their scorecards. The entire UFC 319 event delivered highlights from Chimaev's new title reign to two jaw-dropping spinning elbow knockouts by Lerone Murphy and Carlos Prates, which earned them bonuses. Catch Rani Rampal's inspiring story on Game On, Episode 4. Watch Here!
Time of India
an hour ago
- Time of India
Inside the Dillon Gabriel–Shedeur Sanders drama: how one rookie quote sparked a feud, a Shannon Sharpe callout, and a viral mess
Credit: Ken Blaze-Imagn Images When you're a rookie QB trying to make a name in the NFL, the last thing you want is a headline war with Shedeur Sanders. But that's exactly what happened to Cleveland Browns quarterback Dillon Gabriel, whose sideline interview went viral for a single line: 'There are entertainers, and there are competitors.' Suddenly, fans and even Shannon Sharpe were convinced he was throwing shade at Sanders. The only problem? Gabriel says the whole thing was a misunderstanding. Dillon Gabriel's comment instantly sparked a storm of Shedeur speculation During the Browns' preseason game against the Eagles, Gabriel was asked about how he handles distractions. His answer seemed simple enough: 'There are entertainers, and there are competitors. My job is to compete.' But NFL fans are quick to connect dots, and with Sanders being the biggest rookie 'entertainer' personality in football, social media decided Gabriel had just taken a swipe at his teammate. One clip later, and the internet was buzzing with talk of a rookie feud. To be fair, it's not wild that people assumed Gabriel was aiming at Sanders. Shedeur isn't just another rookie, he's Deion Sanders' son, a brand by himself, and one of the most hyped players in the league before taking a single NFL snap. Gabriel quickly clarified that his line was about the media, not his teammate After the game, Gabriel wasted no time shutting down the rumor mill. He explained that he wasn't talking about Sanders at all, but rather the difference between players and the media covering them: 'All of you in this room are entertainers… I'm a competitor. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 Most Beautiful Female Athletes in the World Click Here Undo That's what I'm doing.' He doubled down that he would never take a shot at his teammate. But as Shannon Sharpe pointed out later, 'the damage was already done' because once fans smell drama, they don't really care about clarifications. Reactions showed how quickly NFL narratives can spiral Sharpe called it a dig regardless of Gabriel's explanation, while others in the media chalked it up to a rookie soundbite gone sideways. Either way, it put Gabriel in the awkward position of being painted as a rival to Sanders before the two even shared a regular-season huddle. Unc & Ocho react to Dillon Gabriel's SHADE at Shedeur + Melissa Jefferson-Wooden joins! | Nightcap And Gabriel's actual debut didn't help quiet things down. He went 13-for-18 with 143 yards, but also threw a pick-six, fumbled, and got sacked twice. The contrast between him and the injured Sanders only fueled more chatter about who really owns the Browns' QB future. Also read - Travis Hunter divorce rumors spark fan backlash at social media's obsession Catch Rani Rampal's inspiring story on Game On, Episode 4. Watch Here!
