Latest news with #Vans
Forbes
6 days ago
- Entertainment
- Forbes
Why Expensive Labubus Could Become Sound Investments
A limited edition collaboration between the shoe brand Vans and Labubu—the quirky plushes from Chinese toy company Pop Mart that have sparked a viral phenomenon—could be the next rendition of the toy to sell for five figures on the secondary market as an eBay auction for the doll creeps toward the $10,000 mark. The Labubu x Vans Old Skool Vinyl Plush Doll. curiouspanda02 The Labubu x Vans Old Skool Vinyl Plush Doll isn't new—it was designed in 2023—but its limited availability has pushed it to be one of the most coveted versions of the Labubu. An eBay listing for the limited edition toy had 16 bids and reached $8,924 as of 2 p.m. EDT on Wednesday, making it the most expensive Labubu currently available on major secondary market websites. The brown doll listed for sale is wearing Vans' classic streetwear designs—including Sk8-Mid sneakers—as well as a Vans sweatshirt and blue and orange hat reading "The Monsters," the name of the series of characters to which Labubu belongs. If it does hit the five-figure mark, the Labubu will be in good company: Other super valuable version of the doll include the Three Wise Labubu (it sold in a Sotheby's auction for $28,300 in May), the Sacai x Seventeen x Labubu (auctioned for $31,250 last month) and a Chinese auction house in June sold a life-sized Labubu doll sold for more than $150,000 and a tall brown Labubu figure for $140,000. And while the price may seem high for what could be a flash-in-the-pan trend, Lori Verderame, an expert appraiser known to History and Discovery Channel viewers as "Dr. Lori,' told Forbes she thinks the Labubu trend is here to stay and that their 'unique look and general appeal will make them a strong market collectible for years to come.' "(Labubus) follow in the high profile and high value tradition of collectibles such as Ty Beanie Babies, Jem and the Holograms toys, Cabbage Patch dolls, and more recently Squishmallows,' Verderame said. 'Their connection to international children's literature, specifically Nordic folk tales, and their presence in the art market also helps drive the market and attract new and seasoned collectors.' Get Forbes Breaking News Text Alerts: We're launching text message alerts so you'll always know the biggest stories shaping the day's headlines. Text 'Alerts' to (201) 335-0739 or sign up here : People look at collectable designer art toy Labubu at a Pop Mart pop-up store in Bangkok on May 6, ... More 2025. AFP via Getty Images The Labubu toy was designed by artist Kasing Lung, who is based in Hong Kong, a decade ago. He has said his characters, which first debuted in a picture book called 'The Monsters Trilogy' in 2015, are inspired by Nordic mythology. Lung licensed his designs to Pop Mart in 2019 and the company turned them into collectible toys. Labubus have skyrocketed in popularity thanks, in part, to endorsements from celebrities like Lisa from the K-pop group Blackpink, Rihanna and Dua Lipa, and also through TikTok 'unboxing' videos that shot them to viral fame. Labubus typically sell for $20 to $30 in 'blind boxes' so the buyer doesn't know what color or design the doll has until the box is opened, and it's the much-more-valuable 'secret' Labubus, which consumers have a 1-in-72 chance of buying, that are popping up on resale sites for thousands of dollars. Videos have been posted of Pop Mart stores overrun with customers brawling and yelling at one another over the toys, and one woman described the scene on a Labubu product release day as "Labubu Hunger Games." Fans have lined up at Pop Mart stores and vending machines for hours, even traveling overseas to get their hands on one, CNBC reported. Pop Mart pulled the dolls from all U.K. stores following reports of customers fighting over them earlier this year and CNN recently reported hundreds of Labubu toys have been confiscated by customs authorities in China as resellers attempt to smuggle them into the country. Owners are reportedly looking into insuring their Labubus when traveling abroad, and reports have popped up on social media of the dolls being stolen off of bags when being worn as a key chain. One woman even started a (so far unsuccessful) GoFundMe to replace a Labubu she says was stolen off of her bag while she was at dinner. What To Watch For How much the limited edition Vans collaboration Labubu sells for. The auction will end at 10:45 p.m. EDT on Monday. Forbes Valuation Wang Ning, 38-year-old founder of toy maker Pop Mart International Group, has an estimated net worth of $21 billion. He joined the ranks of China's top 10 billionaires for the first time in June. Pop Mart went public in Hong Kong in 2020. Tangent The Labubu trend is reminiscent of the Ty Beanie Baby craze of the late 1990s, when clever marketing tactics and perceived scarcity sent $5 plush toys reselling for exponentially more, and while the 'Beanie Baby Bubble' did ultimately burst, a handful are still worth thousands of dollars. Alex Fung, pop culture consignment director at Goldin Auctions, said he expects Labubus to follow a similar path. Fung said he thinks the early Labubus are the ones that will best hold their value, but that other limited editions or collaborations could also face high demand. The everyday items, like the most common Beanie Babies, aren't likely to skyrocket in value, he said. Pop Mart, which has a market cap of $43 billion, this week said it expects a 350% increase in profit and 200% increase in revenue for the first six months of 2025 compared to the same period last year, largely on the back of Labubus, and the company reported $1.8 billion in revenue for 2024—an increase of more than 100% from 2023. Shares of Pop Mart International dropped 6% on Wednesday after the company put out its earnings forecast. Jeff Zhang, an equity analyst at Morningstar, told CNBC he thinks the company's shares are overvalued. Ning's net worth dropped almost $900 million with the dip. Further Reading Forbes Viral Labubu Dolls Resell For Thousands Online As TikTok's New Big Hit By Conor Murray Forbes Labubu: How Asia's Quirky Toy Became A Global Business Phenomenon By Sylvana Quader Sinha Forbes Pop Mart's Wang Ning Is China's 10th Richest Thanks To Labubu Mania By Yue Wang
Forbes
7 days ago
- Entertainment
- Forbes
This Limited Edition Labubu Could Be The Next To Resell For 5 Figures
A limited edition collaboration between the shoe brand Vans and Labubu—the quirky plushes from Chinese toy company Pop Mart that have sparked a viral phenomenon—could be the next rendition of the toy to sell for five figures on the secondary market as an eBay auction for the doll creeps toward the $10,000 mark. Close-up detail view of seven Labubu monsters during a street style fashion photo session on June ... More 12, 2025 in Paris, France. Getty Images The Labubu x Vans Old Skool Vinyl Plush Doll isn't new—it was designed in 2023—but its limited availability has pushed it to be one of the most coveted versions of the Labubu. An eBay listing for the limited edition toy had 16 bids and reached $8,924 as of 2 p.m. EDT on Wednesday, making it the most expensive Labubu currently available on major secondary market websites. The brown doll listed for sale is wearing Vans' classic streetwear designs—including Sk8-Mid sneakers—as well as a Vans sweatshirt and blue and orange hat reading "The Monsters," the name of the series of characters to which Labubu belongs. If it does hit the five-figure mark, the Labubu will be in good company: Other super valuable version of the doll include the Three Wise Labubu (it sold in a Sotheby's auction for $28,300 in May), the Sacai x Seventeen x Labubu (auctioned for $31,250 last month) and a Chinese auction house in June sold a life-sized Labubu doll sold for more than $150,000 and a tall brown Labubu figure for $140,000. And while the price may seem high for what could be a flash-in-the-pan trend, Lori Verderame, an expert appraiser known to History and Discovery Channel viewers as "Dr. Lori,' told Forbes she thinks the Labubu trend is here to stay and that their 'unique look and general appeal will make them a strong market collectible for years to come.' "(Labubus) follow in the high profile and high value tradition of collectibles such as Ty Beanie Babies, Jem and the Holograms toys, Cabbage Patch dolls, and more recently Squishmallows,' Verderame said. 'Their connection to international children's literature, specifically Nordic folk tales, and their presence in the art market also helps drive the market and attract new and seasoned collectors.' Get Forbes Breaking News Text Alerts: We're launching text message alerts so you'll always know the biggest stories shaping the day's headlines. Text 'Alerts' to (201) 335-0739 or sign up here : People look at collectable designer art toy Labubu at a Pop Mart pop-up store in Bangkok on May 6, ... More 2025. AFP via Getty Images The Labubu toy was designed by artist Kasing Lung, who is based in Hong Kong, a decade ago. He has said his characters, which first debuted in a picture book called 'The Monsters Trilogy' in 2015, are inspired by Nordic mythology. Lung licensed his designs to Pop Mart in 2019 and the company turned them into collectible toys. Labubus have skyrocketed in popularity thanks, in part, to endorsements from celebrities like Lisa from the K-pop group Blackpink, Rihanna and Dua Lipa, and also through TikTok 'unboxing' videos that shot them to viral fame. Labubus typically sell for $20 to $30 in 'blind boxes' so the buyer doesn't know what color or design the doll has until the box is opened, and it's the much-more-valuable 'secret' Labubus, which consumers have a 1-in-72 chance of buying, that are popping up on resale sites for thousands of dollars. The Labubu trend is reminiscent of the Ty Beanie Baby craze of the late 1990s, when clever marketing tactics and perceived scarcity sent $5 plush toys reselling for exponentially more, and while the 'Beanie Baby Bubble' did ultimately burst, a handful are still worth thousands of dollars. Videos have been posted of Pop Mart stores overrun with customers brawling and yelling at one another over the toys, and one woman described the scene on a Labubu product release day as "Labubu Hunger Games." Fans have lined up at Pop Mart stores and vending machines for hours, even traveling overseas to get their hands on one, CNBC reported. Pop Mart pulled the dolls from all U.K. stores following reports of customers fighting over them earlier this year and CNN recently reported hundreds of Labubu toys have been confiscated by customs authorities in China as resellers attempt to smuggle them into the country. Owners are reportedly looking into insuring their Labubus when traveling abroad, and reports have popped up on social media of the dolls being stolen off of bags when being worn as a key chain. One woman even started a (so far unsuccessful) GoFundMe to replace a Labubu she says was stolen off of her bag while she was at dinner. What To Watch For How much the limited edition Vans collaboration Labubu sells for. The auction will end at 10:45 p.m. EDT on Monday. Forbes Valuation Wang Ning, 38-year-old founder of toy maker Pop Mart International Group, has an estimated net worth of $21 billion. He joined the ranks of China's top 10 billionaires for the first time in June. Pop Mart went public in Hong Kong in 2020. Tangent Pop Mart, which has a market cap of $43 billion, this week said it expects a 350% increase in profit and 200% increase in revenue for the first six months of 2025 compared to the same period last year, largely on the back of Labubus, and the company reported $1.8 billion in revenue for 2024—an increase of more than 100% from 2023. Shares of Pop Mart International dropped 6% on Wednesday after the company put out its earnings forecast. Jeff Zhang, an equity analyst at Morningstar, told CNBC he thinks the company's shares are overvalued. Ning's net worth dropped almost $900 million with the dip. Further Rea Forbes Viral Labubu Dolls Resell For Thousands Online As TikTok's New Big Hit By Conor Murray Forbes Labubu: How Asia's Quirky Toy Became A Global Business Phenomenon By Sylvana Quader Sinha Forbes Pop Mart's Wang Ning Is China's 10th Richest Thanks To Labubu Mania By Yue Wang
Reuters
7 days ago
- Business
- Reuters
After US tariffs, jobs hang by a thread in Bangladesh's garments sector
ASHULIA, Bangladesh, July 9 (Reuters) - The fear of job losses is rippling through Bangladesh's garment hubs as U.S. President Donald Trump's 35% tariff on the South Asian nation threatens orders from its main export market and crimps the country's biggest industry. The readymade garments sector accounts for more than 80% of Bangladesh's total export earnings, employing 4 million people and contributing roughly 10% to its annual GDP. Raimoni Bala, who operates an industrial sewing machine at a garments factory in Ashulia, a satellite town on the outskirts of Dhaka, says she fears losing her job every day. "For the past few months, everyone is talking about cuts," said Bala, 32. "Whenever anyone visits the factory, my chest aches. I feel like they've come to tell me I've lost my job." In a letter to Bangladesh Chief Adviser Muhammad Yunus, Trump said a 35% levy will be imposed on Bangladeshi imports from August 1 - slightly lower than the 37% tariff he announced in April but more than double the previous average of around 15%. Trump has said he will impose a 20% tariff on major apparel exporter Vietnam while levies on India and Sri Lanka - also big American suppliers - are yet to be announced. Lower tariffs for these competitor nations will make apparel from Bangladesh costlier in comparison. Bangladesh and the U.S. Trade Representative will kick off second round of negotiations on Wednesday to conclude a trade agreement, Dhaka said. While there was still time for Dhaka to reach a trade deal, the fear of disruption due to higher U.S. tariffs is pervasive on factory floors. Reuters spoke to more than a dozen workers in the garments industry like Bala. All shared the same fear - that under the weight of higher tariffs, cancelled orders and factory closures, their livelihoods were under threat. Suppliers in Bangladesh's garments industry, which counts Gap Inc (GAP.N), opens new tab and Vans parent VF Corp (VFC.N), opens new tab as clients, told Reuters that many brands have adopted a "wait-and-see" approach and are placing few new orders. "The burden of this tariff hike will fall heavily on garment manufacturers and the millions of workers they employ, a majority of whom are women, raising the risks of slower growth, job losses and a rise in poverty," said Selim Raihan, an economics professor at the University of Dhaka. Bala's story is similar to many of the workers in the teeming capital. She left her village in northern Bangladesh with the bare minimum, determined to give her sons - now 15 and 13 - a better future. Her husband's poor health only allows him to work sporadically as a day labourer, she said, making her job at the garments factory crucial to the family's survival. During the pandemic, Bala said her factory shut down. She said she continued to receive reduced wages under a government stimulus programme, but her family was forced to almost go hungry. Every rumour of new tariffs or reduced orders rekindles the fear of losing her job, she said. She said she clings to the hope that her job, though exhausting and low-paid, will keep her sons in school and provide food on the table. "I have confidence in my work. I work with respect," Bala said. "As long as I have this job, my sons can dream. Without it, I don't know what will happen to us."
Irish Independent
15-07-2025
- Irish Independent
Family of missing Wicklow man issue plea as new information arises
The last confirmed sighting of Gerard was in fact Monday, June 23, and not Friday, June 20, as was initially reported. His brother, Neil, has confirmed that when Gerard was reported missing, the family were trying to work off an approximation with the gardaí. But upon reviewing CCTV footage, the last sighting was confirmed as Monday, June 23, at 02:33am. "He was last seen at Bray seafront walking down towards the promenade and turning left towards the harbour area. That was on the Monday at 2:33am,' Neil said. Regarding Gerard's movements at the time, Neil said it was 'not a totally unusual time for him to be out walking'. "This was during the heatwave too – you know, one of those very humid days, probably not as bad as now, but for him to be out at that time's not too uncommon to go for a walk,' he explained. Gerard is described as being 'roughly five foot ten, very slim build, brown hair and hazel green eyes'. Neil added that 'what he was wearing and what we've seen on the camera too, was very dark clothing – so a dark hoodie, dark chinos and a pair of Vans which would have had white soles'. 'From the footage that we've seen, he's just walking as casually as you would like,' Neil continued. "There was nothing out of the ordinary. Gerard was something of a night owl, so early morning walks weren't entirely out of character for him – especially during that humid heat. I'll be talking to Gerard on average maybe two three times a week. And that phone call – because I'll be out walking the dog early am – could be half-three in the morning. 'From an outside perspective people see it and go: 'That's very unusual'. But for Gerard, that would be relatively common, especially when combined with the fact that there was a heatwave, and the humidity, because that's where he lived, down near the Dart station.' Neil said that his brother is 'very well known' in the community, and has 'a very big family, as in cousins, a lot of friends, and definitely around Bray he would be very well known'. 'The one thing which has been overwhelming for the whole family is the support of the community,' he said. 'People who knew Gerard did reach out to me. So we've had friends who knew Gerard reach out to me non-stop, worrying and expressing concern about him. So from his own friends and just from the community of Bray the support has genuinely been overwhelming. Our family is close-knit and devastated, with relatives from near and far supporting the search,' he added. Neil explained that for his brother not to have contacted anyone is 'totally out of the ordinary'. "Has Gerard ever once gone off and not being contactable? Absolutely not. We're a very close family. And so for him to go missing, for him to not have contact for an extended duration of time would be totally out of the ordinary. We reported him missing on June 28 after not being able to contact him or locate him, and CCTV confirmed the June 23 at 02:33am sighting. 'I'm not naive to the situation we're in, but Gerard didn't show signs of this behaviour before, and this is completely out of character. As a family, we're holding onto hope and urging anyone with information to come forward. "I want to extend a massive thanks to the gardai, community volunteers and the civil defence. They've been out searching around Bray Head, all around Bray and other areas too and a lot of people have joined in the search. The support has been a lifeline, keeping us going through this nightmare,' Neil said. The family are appealing in particular to business owners and residents who have CCTV cameras trained on Bray seafront, particularly in light of new information that Gerard was seen heading towards the Bray harbour area. 'The gardaí are leading the investigation and Gerard was last seen at the seafront, and Bray seafront is probably the busiest area in Bray,' Neil said. "There's a lot of cameras, and one of the big hopes is that all of the footage is obviously checked urgently and none's overridden. And if anyone thinks that they've seen something or heard anything please come forward and go to the local garda station. 'The search is still ongoing at the moment, with the confirmation that Gerard was going down the promenade and turning left towards the harbour area, that's where the focus is. And the next piece is to paint a full picture of the situation from all the different CCTV cameras down there – whether it be public or private. "People who would have been walking out at that time, too, they may have seen something, or anything, and we're just hoping that they come forward. Even the smallest detail could bring Gerard home safely – our family is devastated and clinging to hope. Please share this appeal widely to help us find him.' Anyone with information can contact Bray Garda Station at 01-6665300 or the Confidential Line at 1800 666 111.
Canberra Times
13-07-2025
- Canberra Times
Man accused of indecent attacks towards woman in Northbourne bar
The man was described by police as Caucasian in appearance with a stubbly beard and in his early 30s. He was wearing either a puffy jacket or sweater, blue denim jeans and black and white Vans sneakers.
