China's POP MART Targets $4 Billion In Sales This Year
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Pop Mart’s Labubu toys are fueling a 240 percent stock surge and making CEO Wang Ning one of China’s youngest billionaires.
Dupes of the internet-viral Labubu dolls are being sold around the world. Chinese authorities are now seizing them by the thousands in a counterfeit crackdown.
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Labubus dolls are only available through online purchases and in-store pickups, if you can find one in stock. Adding to the scarcity factor is the blind-box packaging.
First created in 2015 by the Hong Kong artist Kasing Lung, Labubus are fuzzy elf toys from the Chinese brand Pop Mart with keychain rings attached. After K-pop superstar Lisa started wearing them on her designer handbags in 2024, the toys became baubles displayed like precious gems on purses and backpacks worldwide.
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“The people of Babylonia and Assyria put his frightfulness to good use — especially against a demoness called Lamashtu, a terrifying ‘anti-mother’ with a lion’s head and sagging breasts who was believed to kill pregnant women and young mothers and snatch away their children,” Frahm said.