Latest news with #PopMartInternationalGroup
Indian Express
4 days ago
- Entertainment
- Indian Express
$1.6 billion in a day: How Labubu dolls made this CEO a global sensation overnight
What do bunny ears, blind boxes, and celebrity handbags have in common? Apparently, a $1.6 billion boost to a CEO's net worth. Wang Ning, the 38-year-old founder and CEO of Pop Mart International Group, saw his fortune leap by a staggering $1.6 billion in a single day—all thanks to the runaway success of Labubu, the shaggy, mischievous figurine taking the world by storm. Labubu, dreamed up by Hong Kong-born artist Kasing Lung, originated in the 2015 picture book The Monsters and was once a niche designer toy. That changed after Lung teamed up with Pop Mart in 2019, launching Labubu into global toy superstardom. With its bunny ears and gremlin-meets-Teletubby vibe, the doll has become a cultural phenomenon. A major driver of Labubu's success is Pop Mart's use of 'blind boxes'—sealed packages that don't reveal which character is inside. This gamble has proven addictive for collectors. In 2024 alone, Labubu accounted for roughly $400 million in revenue. The craze has had its wild moments. In the UK, store launches sparked chaos and even scuffles, prompting Pop Mart to suspend in-store sales of Labubu across its 16 locations. The company plans to resume in June but continues to sell the dolls online. Social media and celebrity culture have only supercharged Labubu's appeal. Rihanna, Dua Lipa, and Blackpink's Lisa have been seen toting the dolls, often clipped to luxury bags. On TikTok, the #Labubu hashtag has exploded with over 1.4 million posts, feeding the frenzy. LISA is recognized by Vogue Italia and Teen Vogue as the driving force behind the worldwide surge in popularity of Labubu plush, highlighting her pivotal role in setting the global trend. — Pop Core (@TheePopCore) May 26, 2025 This success has propelled Pop Mart's app to the top of the US shopping charts and massively boosted investor confidence. According to Forbes, Wang Ning's real-time net worth as of April 2025 is $18.7 billion. Born in Henan province in 1987, Wang graduated from Zhengzhou University in 2009 and founded Pop Mart the following year. What started as a small collectibles business is now a global toy empire—with bunny ears leading the charge.
Hindustan Times
6 days ago
- Entertainment
- Hindustan Times
This Chinese CEO earned $1.6 billion in 24 hours after his toy became an international sensation
A seemingly innocuous doll has taken the world by storm, causing near-riots in stores, becoming a celebrity favourite and adding billions to its creator's fortune. We are talking, of course, about Pop Mart's viral Labubu dolls. With their gremlin-like faces and mischievous smiles, these dolls have become the hottest accessory of the season - they have been spotted hanging from the luxury bags of celebrities like Blackpink's Lisa, Rihanna, Singaporean socialite Jamie Chua and – closer home – Ananya Pandey. In fact, the Labubu craze has been such that Pop Mart was forced to halt the sale of these monster dolls in UK stores following incidents of customers fighting over them, as per a BBC report. So who is the man behind these viral dolls? That would be the chairman and CEO of Chinese toy maker Pop Mart International Group, Wang Ning. According to an April 2025 Forbes report, Wang Ning became $1.6 billion richer in a single day thanks to his company's soaring popularity in the United States. The Pop Mart app became the most downloaded app in the US. And despite trade tensions between China and the US, Americans queued up for hours to buy Labubu dolls. According to Forbes, Wang Ning's real-time net worth stands at $18.7 billion. Wang Ning is the 38-year-old Chinese CEO and chairman of Pop Mart International Group. The toy company went public in Hong Kong in 2020. Born in 1987 in Henan province, China, Wang graduated with a degree in advertising from Zhengzhou University in 2009, according to Gemway Assets. Pop Mart launched in 2010, selling small figurines in 'blind boxes'. This blind box strategy has been central to its success. Customers purchase sealed boxes without knowing which figurine they will receive, creating an element of surprise and encouraging repeat purchases to complete collections.
The Star
16-05-2025
- Business
- The Star
China's Pop Mart-loving Gen Z fuels big gains for investors
BEIJING: China's attempt to offset the damage of tariffs is getting a helping hand from Generation Z, which is spending big on everything from toys to bubble tea. The country's younger generation of shoppers is on a spree of what analysts call emotional consumption, defying a wider malaise in China's economy. Revenues at Gen Z favoUrites such as toymaker Pop Mart International Group, jewelery firm Laopu Gold Co and drinks chain Mixue Group have soared, fueLling breakneck moves in their stock prices. The spending boom offers a glimmer of hope for the world's second-largest economy, where an export-led growth model is under threat from trade tensions with the US, even amid a recent reprieve. Beijing has made boosting consumption and stimulating domestic demand priority No. 1 as it attempts to redefine its economic model. The moves also underscore the huge profits on offer for investors in China's stock market, despite recent selling pressure caused by tit-for-trade moves between the US and China. The tariff pause between the world's two largest economies was needed to put a wider rally in the country back on track. Gen Z consumer stocks, though, had already roared ahead. Gen Z consumption in China is a tale of two extremes. The over 250-million-strong army of shoppers, often defined as those born between 1995 and 2010, pinch pennies when it comes to everyday items like bubble tea or noodles. They're willing to spend big on their hobbies, blowing hundreds or even thousands of dollars on toys, celebrity merchandise and trendy jewellry. These consumers aren't all that different from their Gen Z counterparts in the US, an extremely online bunch who drink less alcohol than their parents, look for small-ticket bargains, have few plans to buy property, and splurge on niche brands and hobbies their parents just don't understand. "The new consumer is self-indulgent, devoted to hobbies, less price sensitive, and spends on things they can connect to emotionally or those that provide sensory pleasure,' said Li Shouqiang, a fund manager at Shenzhen JM Investment management Co. "Essentially, anything that their elders consider frivolous.' Liu Meixuan, a 26-year-old e-commerce employee, offers a typical example: She buys cheap drinks from tea chain Chagee Holdings Ltd., using coupons to lower the price even further - but she also estimates she has spent as much as US$9,600 on trading cards featuring Korean pop stars. Gen Z spending alone won't be enough to turn around China's economy, which is still recovering from a years-long property slump, fighting against deflation and dealing with the impact of US tariffs. Although the world's two largest economies have agreed a temporary reduction of levies, the detente came too late to avoid a hit to Chinese manufacturers and a lasting deal is still far from guaranteed. The idiosyncratic spending habits of Gen Z also mean it is tough for investors to spot winners in advance, since a disparate group of companies reap the benefits. Pop Mart and Bloks Group Ltd make toys. Mixue and Guming Holdings Ltd sell tea and other drinks. Laopu Gold, a jeweller offering traditional Chinese designs, became a Gen Z must-have after blowing up on social media. But the potential gains on offer for investors are eye-popping. Those five stocks have all more than doubled this year. Mao Geping Cosmetics Co, whose celebrity make-up artist founder has burnished its appeal with Gen Z, has seen its shares jump almost 80%. Auntea Jenny (Shanghai) Industrial Co, another tea seller which listed in Hong Kong last week, is already around 13% higher since then. "These businesses have clearly read the room and adapted to trends, which are likely here to stay,' said Mark Tanner, managing director of consultancy China Skinny in Shanghai. Their wild stock moves have shaken up the corporate landscape in China, creating a new crop of national champions. Pop Mart was worth less than either Mattel Inc. or Hasbro Inc. late last year but is now bigger than the two companies combined. Laopu Gold, a minnow compared to industry giant Chow Tai Fook Jewellery Group Ltd. at the time of its listing in June, now has a greater market value despite having a fraction of its stores. Gen Z's obsession with hobbies has, predictably, led to clashes with their parents. Zhuo Xiaodou, a 20-year-old in Shenzhen, is so dedicated to collecting Formula One model cars - at a cost of as much as a few hundred dollars a pop - that he scrimps on food to pay for them. To his parents, who send him money to get through college, this is just "a waste,' said Zhuo. "They don't see the point.' Qi Jiaxiang, a 17-year-old high school student in the Hebei province, said his father's childhood in the countryside makes it hard for him to relate to his son's hobbies, which include a growing collection of badges featuring comic book characters. Investors are siding with the younger generation. Shares that were hot plays for Gen X and Gen Y consumption have dragged in comparison. High-end liquor maker Kweichow Moutai Co, once an investor favourite, hit an all-time high in 2021 and has lost a third of its value since then. Those of appliance maker Haier Smart Home Co. are down this year, while rival Midea Group Co.'s shares are up just a few percent. Investors are now turning their attention to a series of initial public offerings planned by Chinese consumer companies that have Gen Z appeal, hoping to replicate Laopu Gold's more than 15-times jump since its listing last year. Collectible card maker Kayou Inc., which sells in Pop Mart-style blind boxes, has filed a prospectus with the Hong Kong stock exchange, as has popular fast food chain Guangzhou Xiao Noodles Catering Management Co. Toymaker Miniso Group Holding Ltd. is considering spinning off and listing its Top Toy brand in Hong Kong, Bloomberg News previously reported. These deals are all likely to benefit from a continued spending spree among the cohort, who say they have no plans to change their consumption behaviour anytime soon. Icy Yang, a 30-year-old consultant in Shanghai, is among the Pop Mart mega-fans who helped drive a surge in the company's profits last year. She already owns dozens of the company's dolls, and recently teamed up with friends to participate in an online sale of its latest Labubu doll, a popular model. "My only regret is that it never occurred to me to put as much as I've spent on the toys into Pop Mart's shares,' she said. "I'd be so rich.' - Bloomberg L.P.
Business Times
16-05-2025
- Business
- Business Times
China's Pop Mart-loving Gen Z fuels big gains for investors
[NEW YORK] China's attempt to offset the damage of tariffs is getting a helping hand from Generation Z (Gen Z), which is spending big on everything from toys to bubble tea. The country's younger generation of shoppers is on a spree of what analysts call emotional consumption, defying a wider malaise in China's economy. Revenues at Gen Z favourites such as toymaker Pop Mart International Group, jewellery firm Laopu Gold and drinks chain Mixue Group have soared, fuelling breakneck moves in their stock prices. The spending boom offers a glimmer of hope for the world's second-largest economy, where an export-led growth model is under threat from trade tensions with the US, even amid a recent reprieve. Beijing has made boosting consumption and stimulating domestic demand priority No 1 as it attempts to redefine its economic model. The moves also underscore the huge profits on offer for investors in China's stock market, despite recent selling pressure caused by tit-for-trade moves between the US and China. The tariff pause between the world's two largest economies was needed to put a wider rally in the country back on track. Gen Z consumer stocks, though, had already roared ahead. Devoted to hobbies Gen Z consumption in China is a tale of two extremes. The over 250-million-strong army of shoppers, often defined as those born between 1995 and 2010, pinch pennies when it comes to everyday items such as bubble tea or noodles. They are willing to spend big on their hobbies, blowing hundreds or even thousands of US dollars on toys, celebrity merchandise and trendy jewellery. These consumers are not all that different from their Gen Z counterparts in the US, an extremely online bunch who drink less alcohol than their parents, look for small-ticket bargains, have few plans to buy property, and splurge on niche brands and hobbies their parents just do not understand. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up 'The new consumer is self-indulgent, devoted to hobbies, less price sensitive, and spends on things they can connect to emotionally or those that provide sensory pleasure,' said Li Shouqiang, a fund manager at Shenzhen JM Investment Management. 'Essentially, anything that their elders consider frivolous.' Liu Meixuan, a 26-year-old e-commerce employee, offers a typical example: She buys cheap drinks from tea chain Chagee Holdings, using coupons to lower the price even further – but she also estimates she has spent as much as US$9,600 on trading cards featuring Korean pop stars. Gen Z spending alone will not be enough to turn around China's economy, which is still recovering from a years-long property slump, fighting against deflation and dealing with the impact of US tariffs. Although the world's two largest economies have agreed to a temporary reduction of levies, the detente came too late to avoid a hit to Chinese manufacturers and a lasting deal is still far from guaranteed. The idiosyncratic spending habits of Gen Z also mean it is tough for investors to spot winners in advance, since a disparate group of companies reap the benefits. Pop Mart and Bloks Group make toys. Mixue and Guming Holdings sell tea and other drinks. Laopu Gold, a jeweller offering traditional Chinese designs, became a Gen Z must-have after blowing up on social media. But the potential gains on offer for investors are eye-popping. Those five stocks have all more than doubled this year. Mao Geping Cosmetics whose celebrity make-up artist founder has burnished its appeal with Gen Z, has seen its shares jump almost 80 per cent. Auntea Jenny (Shanghai) Industrial, another tea seller which listed in Hong Kong last week, is already around 13 per cent higher since then. 'These businesses have clearly read the room and adapted to trends, which are likely here to stay,' said Mark Tanner, managing director of consultancy China Skinny in Shanghai. Their wild stock moves have shaken up the corporate landscape in China, creating a new crop of national champions. Pop Mart was worth less than either Mattel or Hasbro late last year but is now bigger than the two companies combined. Laopu Gold, a minnow compared to industry giant Chow Tai Fook Jewellery Group at the time of its listing in June, now has a greater market value despite having a fraction of its stores. Gen Z's obsession with hobbies has, predictably, led to clashes with their parents. Zhuo Xiaodou, a 20-year-old in Shenzhen, is so dedicated to collecting Formula One model cars – at a cost of as much as a few hundred US dollars a pop – that he scrimps on food to pay for them. To his parents, who send him money to get through college, this is just 'a waste', said Zhuo. 'They don't see the point.' Qi Jiaxiang, a 17-year-old high school student in the Hebei province, said his father's childhood in the countryside makes it hard for him to relate to his son's hobbies, which include a growing collection of badges featuring comic book characters. Investors are siding with the younger generation. Shares that were hot plays for Gen X and Gen Y consumption have dragged in comparison. High-end liquor maker Kweichow Moutai, once an investor favourite, hit an all-time high in 2021 and has lost a third of its value since then. Those of appliance maker Haier Smart Home are down this year, while rival Midea Group's shares are up just a few per cent. The new new thing Investors are now turning their attention to a series of initial public offerings planned by Chinese consumer companies that have Gen Z appeal, hoping to replicate Laopu Gold's more than 15-times jump since its listing last year. Collectible card maker Kayou, which sells in Pop Mart-style blind boxes, has filed a prospectus with the Hong Kong stock exchange, as has the popular fast food chain Guangzhou Xiao Noodles Catering Management. Toymaker Miniso Group Holding is considering spinning off and listing its Top Toy brand in Hong Kong, Bloomberg News previously reported. These deals are all likely to benefit from a continued spending spree among the cohort, who say they have no plans to change their consumption behaviour anytime soon. Icy Yang, a 30-year-old consultant in Shanghai, is among the Pop Mart mega-fans who helped drive a surge in the company's profits last year. She already owns dozens of the company's dolls, and recently teamed up with friends to participate in an online sale of its latest Labubu doll, a popular model. 'My only regret is that it never occurred to me to put as much as I have spent on the toys into Pop Mart's shares,' she said. 'I'd be so rich.' BLOOMBERG
Business Times
30-04-2025
- Business
- Business Times
Pop Mart holder sells US$101 million stake after shares hit record
[HONG KONG] An investor in Pop Mart International Group, whose fans include K-pop band Blackpink's Lisa, raised US$101 million in a block trade after the Chinese toy company's shares hit a fresh record this week. The undisclosed seller offloaded about 4.1 million shares at HK$192.95 apiece, a 2.5 per cent discount to Pop Mart's close on Tuesday (Apr 29), according to terms of the deal seen by Bloomberg News. The block trade comes about a month after Pop Mart reported profit that more than doubled last year thanks to the popularity of its Labubu dolls adored by celebrities. The toy company is the top gainer in the MSCI China Index over the last 12 months, with its shares jumping more than 470 per cent. The stock fell as much as 3 per cent in Hong Kong trading on Wednesday. The fervour for Pop Mart's toys has turned it into a global phenomenon, with fans sometimes queueing for hours outside stores for new releases. Its share rally has made its market value bigger than companies including Hello Kitty owner Sanrio and Barbie maker Mattel. 'We see it as taking profit,' said Gary Tan, portfolio manager at Allspring Global Investments. 'The deal was only done at a small discount to the last close despite a sharp gains in popmart's share price over the last two weeks.' BLOOMBERG
