Overview

• Wang Ning’s net worth reached $22.7 billion, placing him among China’s ten richest and the youngest member of that group.
• Pop Mart’s shares have more than tripled in 2025 to over HK$270, valuing the company at approximately HK$365 billion.
• First-quarter sales jumped 170 percent year-on-year, driven by the thrill of blind-box collecting and viral online demand.
• Originally created by Hong Kong artist Kasing Lung in 2015 and marketed by Pop Mart since 2019, Labubu’s ugly-cute design has become a global sensation among Gen Z collectors.
• Celebrity fans including Rihanna, Dua Lipa and BLACKPINK’s Lisa have amplified the Labubu craze and sustained its worldwide momentum.