Labubu mania: How a quirky doll made Pop Mart a global giant
A small toy with big eyes, messy hair, and a wide toothy smile is taking the world by storm, and helping build a billion-dollar empire along the way. Meet Labubu, the odd-looking but loveable doll that's become a social media sensation, a collector's dream, and the crown jewel of China's booming toy brand, Pop Mart.FROM QUIRKY COLLECTABLE TO GLOBAL SENSATIONLabubu is not just a toy, it's a trend. Created by artist, Kasing Lung, the quirky doll started off as a character in a picture book inspired by Nordic mythology. It later became part of a blind box toy series launched by Pop Mart in 2019. Blind boxes are sealed packs that don't reveal what's inside until you open them, a surprise that fans, especially Gen Z and millennials, find hard to resist.advertisementSince then, Labubu has gone viral. From unboxing videos on TikTok to appearances on the arms of celebrities like BLACKPINK's Lisa, Rihanna, and Dua Lipa, the toy has become a pop culture icon. Some limited-edition versions even sell for six-figure prices in resale markets.POP MART'S RISE WITH LABUBU
Founded in 2010 by Wang Ning, Pop Mart began as a small shop in Beijing selling comics and phone covers. But once Wang noticed the growing love for designer toys, he switched focus. First came the Molly doll, but it was Labubu that truly changed the game.Pop Mart went public on the Hong Kong Stock Exchange in late 2020, and its shares have jumped more than 500% in the last year, according to the BBC.The value of Pop Mart's Hong Kong-listed shares has soared three times this year, exceeding HKD $270 (US $34.40), as per Forbes.advertisementThe company now operates stores across Asia and ships toys worldwide. It's not just seen as a toy brand anymore; Pop Mart is compared to fashion and luxury labels for the cult-like loyalty of its fans.WANG NING: NOW AMONG THE RICHEST PEOPLE IN CHINAAt the heart of this success is Pop Mart's 38-year-old founder Wang Ning, now one of China's top 10 richest people. As of June 2025, he's worth $22.7 billion, according to Forbes, all thanks to Labubu.Wang spotted the potential of mixing art, surprise, and collectability early on. His company's focus on emotional connection and design has turned small plastic toys into status symbols.WHY EVERYONE WANTS A LABUBULabubu's charm lies in its story and design. Originally featured in the 2015 book series The Monsters Trilogy, which draws from Nordic myths, Labubu is portrayed by Pop Mart as a kind-hearted, elf-like creature who tries to help but often causes unintended chaos.The dolls are made in various seasonal and limited-edition styles, which makes collecting them even more exciting.Adding to the buzz are 'secret' editions, super-rare versions with only a 1-in-72 chance of appearing in a blind box. These often become collector gold, fetching thousands online.The doll even made an appearance at Paris Fashion Week, further blurring the lines between toys and fashion.A TOY THAT'S MORE THAN JUST A TOYadvertisementWhat started as a niche book character has grown into a global sensation, sparking queues outside stores, a trading frenzy online, and a whole new category of luxury collectables. Labubu isn't just a toy, it's a movement, and it's showing no signs of slowing down.With Pop Mart's soaring valuation and Wang Ning's rising fortune, one thing is clear: this bug-eyed doll has become a billion-dollar force in the world of business, fashion, and fun.- Ends
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