Latest news with #WangNing
Economic Times
3 days ago
- Business
- Economic Times
Can a toy make you a billionaire overnight? Meet the Chinese CEO who made $1.6 billion in a day thanks to a viral doll
Chinese CEO Wang Ning earned $1.6 billion in a single day as Pop Mart's viral Labubu dolls took the world by storm. Spotted with global celebrities, the mischievous toys sparked shopping frenzies, especially in the U.S. and U.K., where stores saw near-riots. (Facebook/ Agencies) What do a gremlin-faced doll, Blackpink's Lisa, and a near-riot in a London toy store have in common? The answer lies in one mischievous word: Labubu. This quirky, wide-eyed collectible from Chinese toy giant Pop Mart has not only taken over celebrity handbags and social media timelines—it's also added a staggering $1.6 billion to CEO Wang Ning's fortune in just one day. Yes, you read that right. In the era of high-tech IPOs and AI booms, it's a 10-dollar designer toy, sealed in a blind box, that's redefining wealth creation and retail hysteria. With its eccentric, impish smile and collector appeal, the Labubu doll has become the must-have accessory of the year. Spotted dangling from the designer purses of Rihanna, Jamie Chua, and India's very own Ananya Panday, Labubu is more than a toy—it's a statement. But the craze isn't just cosmetic. A BBC report recently highlighted how demand in the UK spiraled so wildly out of control that Pop Mart had to halt in-store sales after physical altercations broke out among eager buyers. The tipping point? Pop Mart's mobile app shot to the top of the U.S. app store, sending the company's shares soaring and instantly swelling Wang Ning's net worth to a jaw-dropping $18.7 billion, according to Forbes . At 38, Wang Ning has transformed from a Zhengzhou University advertising graduate to the architect of a global toy empire. Founded in 2010, Pop Mart didn't start with billion-dollar ambitions—but with blind boxes. These sealed packages conceal which toy you're getting, encouraging fans to keep buying for a full set. What sounds like a gimmick has turned into genius—thanks to psychological appeal and market-savvy execution. Today, Pop Mart collaborates with renowned artists to create collectible series like Molly, Skullpanda, and Dimoo. With half its sales still happening at physical outlets, and the rest through a robust digital and social media ecosystem, the brand has become a powerhouse of pop-cultural obsession, reaching across Asia, Europe, and the United States. Once confined to dusty toy shelves, collectibles have found their renaissance in what The Financial Times calls 'trendy connoisseurship.' Pop Mart has elevated figurine buying into a lifestyle pursuit for China's young, affluent consumers—and the world is catching on. Blind boxes now command second-hand resale values that attract not just fans but investors, with some venture capital firms reportedly dabbling in this curious market. And amid trade tensions and global economic uncertainty, Pop Mart's irresistible charm has proved its resilience, crossing borders with ease and capturing hearts—and wallets—everywhere it goes.
Indian Express
3 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.
NDTV
4 days ago
- Entertainment
- NDTV
This 38-Year-Old Chinese CEO Added $1.6 Billion To His Fortune In A Day, All Thanks To A Viral Doll
Wang Ning, the chairman and CEO of Chinese toy maker Pop Mart International, became $1.6 billion richer in a single day, all thanks to his company's viral Labubu dolls. The seemingly innocuous doll is based on a character designed by Hong Kong-born artist Kasing Lung for his 2015 picture book series 'The Monsters'. The doll features distinctive bunny ears and a mischievous grin. It gained popularity after Mr Lung partnered with Pop Mart in 2019. Since then, the doll has become the latest collectable trend among Gen Z and has also been spotted hanging from the luxury bags of celebrities like Rihanna, Blackpink's Lisa, and Singaporean socialite Jamie Chua. In fact, the Labubu craze is so much that it added billions to its creator's fortune. According to an April 2025 Forbes report, Wang Ning, the man behind these viral dolls, became $1.6 billion richer in a single day, thanks to his company's soaring popularity in the United States. Today, Mr Ning's net worth stands at $18.3 billion, per Forbes Real Time Billionaires List. Pop Mart's success with Labubu translated into an impressive digital performance as the company's app became the most downloaded shipping app in the US. Even with the ongoing trade tensions between China and the US, Americans queued up for hours to buy the rabbit-looking dolls. This digital surge, coupled with robust sales, significantly contributed to the substantial increase in Mr Ning's net worth. "Pop Mart's shares got a short-term boost due to the app's ranking in the US and the rush to acquire its dolls," Kenny Ng, a Hong Kong-based securities strategist at Everbright Securities International, told Forbes. What are Labubu dolls? Labubu is one of the characters created by Kasing Lung. It belongs to Mr Lung's imaginative storybook world, 'The Monsters', which also features other whimsical characters such as Zimomo, Tycoco, Spooky and Pato. According to Mr Lung's book, Labubu is an elf, a girl distinguished by high-pointed ears, no tail, and a unique face that ranges from innocent to impish. Labubu is admired for her kind-hearted character. Her slightly eerie, toothy grin and kooky expressions are a hit among children. Over the years, Labubu has been reimagined in over 300 variations, in different colours, outfits, sizes and themes. In 2019, Pop Mart teamed up with Kasing Lung to launch Labubu figures in their The Monsters series. These are sold in blind boxes, and each sealed package hides a surprise design. This element of surprise has fueled a buying frenzy, encouraging repeat purchases to complete collections. In 2024 alone, the company reported a revenue of $1.8 billion, with Labubu contributing nearly $400 million to that figure.
Time of India
5 days ago
- Entertainment
- Time of India
Can a toy make you a billionaire overnight? Meet the Chinese CEO who made $1.6 billion in a day thanks to a viral doll
What do a gremlin-faced doll, Blackpink's Lisa, and a near-riot in a London toy store have in common? The answer lies in one mischievous word: Labubu. This quirky, wide-eyed collectible from Chinese toy giant Pop Mart has not only taken over celebrity handbags and social media timelines—it's also added a staggering $1.6 billion to CEO Wang Ning 's fortune in just one day. Yes, you read that right. In the era of high-tech IPOs and AI booms, it's a 10-dollar designer toy, sealed in a blind box, that's redefining wealth creation and retail hysteria. The Viral Toy Fueling International Frenzy With its eccentric, impish smile and collector appeal, the Labubu doll has become the must-have accessory of the year. Spotted dangling from the designer purses of Rihanna, Jamie Chua, and India's very own Ananya Panday, Labubu is more than a toy—it's a statement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Mountain Gear for Extreme Conditions Trek Kit India Learn More But the craze isn't just cosmetic. A BBC report recently highlighted how demand in the UK spiraled so wildly out of control that Pop Mart had to halt in-store sales after physical altercations broke out among eager buyers. The tipping point? Pop Mart's mobile app shot to the top of the U.S. app store, sending the company's shares soaring and instantly swelling Wang Ning's net worth to a jaw-dropping $18.7 billion, according to Forbes . You Might Also Like: Meet the Lucknow-origin tech whiz whom Google offered Rs 850 crore to stop from joining a rival company — exbtbp (@exbtbp) The Man Behind the Doll: Wang Ning's Pop Culture Revolution At 38, Wang Ning has transformed from a Zhengzhou University advertising graduate to the architect of a global toy empire. Founded in 2010, Pop Mart didn't start with billion-dollar ambitions—but with blind boxes . These sealed packages conceal which toy you're getting, encouraging fans to keep buying for a full set. What sounds like a gimmick has turned into genius—thanks to psychological appeal and market-savvy execution. Today, Pop Mart collaborates with renowned artists to create collectible series like Molly, Skullpanda, and Dimoo. With half its sales still happening at physical outlets, and the rest through a robust digital and social media ecosystem, the brand has become a powerhouse of pop-cultural obsession, reaching across Asia, Europe, and the United States. The New High Culture of Consumerism Once confined to dusty toy shelves, collectibles have found their renaissance in what The Financial Times calls 'trendy connoisseurship.' Pop Mart has elevated figurine buying into a lifestyle pursuit for China's young, affluent consumers—and the world is catching on. You Might Also Like: From housewife to CEO: She wanted to show her daughter that 'we can balance everything' Blind boxes now command second-hand resale values that attract not just fans but investors, with some venture capital firms reportedly dabbling in this curious market. And amid trade tensions and global economic uncertainty, Pop Mart's irresistible charm has proved its resilience, crossing borders with ease and capturing hearts—and wallets—everywhere it goes.
Hindustan Times
5 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.
