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Labubu Dolls Propel Pop Mart CEO’s Net Worth to $18.7 Billion

Sales shifted online pending an in-store reopening in June after safety incidents in the UK

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Pop Mart CEO Wang Ning added $1.6 billion to his fortune in a single day
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Overview

  • Physical altercations over limited Labubu stock in UK outlets forced Pop Mart to pause brick-and-mortar sales, according to the BBC.
  • Blind-box marketing drives repeat purchases as collectors seek surprise variants to complete their Labubu series.
  • Prominent endorsements from personalities like Lisa, Rihanna, Dua Lipa and Ananya Pandey fueled global demand across social media.
  • Pop Mart’s mobile app became the top-ranked shipping app in the US during soaring demand.
  • The Labubu character, designed by Hong Kong-born artist Kasing Lung, originated in his 2015 picture book series 'The Monsters' before a 2019 global launch.