China's Pop Mart soars past Sanrio in market cap on Labubu blind box boom
HONG KONG -- China's burgeoning "designer" toy industry has entered the spotlight with the meteoric rise of Pop Mart, whose blind boxes with random toys have won the hearts and wallets of young consumers.
The industry looks set to grow to 100 billion yuan ($14 billion) next year, the Communist Party-run People's Daily reports.
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Japan Today
12-06-2025
- Japan Today
Starbucks Japan releases a Joyful Mango Earl Grey Tea Latte at 7-Eleven
By Oona McGee, SoraNews24 Japan is currently home to 1,733 Starbucks branches, placing it fourth in the world in terms of store numbers, following the U.S., China and Korea. However, you don't even have to walk into an official branch to get a taste of Starbucks, as the chain also has a 'chilled cup' series that can be conveniently purchased at retail outlets like convenience stores around the country. Produced in collaboration with Suntory, these pre-made beverages have been well received since their 2005 debut, and the limited-edition seasonal releases continually prove to be wildly popular. Now, there's a new limited-edition flavor coming to stores for summer, and it's called the Starbucks Joyful Mango Earl Grey Tea Latte. This is the first time for a Chilled Cup tea latte to contain mango juice, and it's being paired with milk and an aromatic Earl Grey tea for the ultimate in joyful summer refreshment. The elegant scent of bergamot is a perfect partner for the juicy, tropical mango flavor, creating a light, refreshing and luxurious taste. The design on the cups will immediately attract the eye, with bold illustrations of mangoes set against a gold metallic background to express the premium feel of the latte while evoking a tropical atmosphere. Fun and summery, the drink is said to taste as good as it looks, and the product development team recommends pairing it with a chocolate nut cookie, as the bittersweet chocolate helps to balance out the sweet and mellow mango flavor even further. The Joyful Mango Earl Grey Tea Latte is priced at 219 yen and can be purchased for a limited time at 7-Eleven convenience stores around Japan and at the following Ito-Yokado-run locations: York Benimaru, York Mart, York Foods, York Price, Tenmaya, Youme Town, Youme Mart, Youme Terrace, Youme Mall, Yours, Maruyoshi Centre. Source, images: Press release Read more stories from SoraNews24. -- Starbucks Japan releases first flower drink in exclusive, hard-to-find chilled cup series -- Starbucks releases a dragon latte containing Japanese pepper in Japan -- Starbucks Japan releases a new Frappuccino that looks and tastes like a floral bouquet External Link © SoraNews24
Japan Today
11-06-2025
- Japan Today
Labubu toy sculpture sold for $150,000 at China auction
Labubus have been endorsed by celebrities such as Rihanna and Dua Lipa, and fans have queued overnight outside stores hoping to snag one A Beijing auction house has sold a four-foot-tall sculpture of a viral plush toy character for more than $150,000, as global demand for the Chinese-designed Labubu dolls reaches fever pitch. The rabbit-like figures sporting mischievous grins began as a character created by Hong Kong-born artist Kasing Lung, and are made by Beijing-based toy brand Pop Mart. They have been endorsed by celebrities such as Rihanna and Dua Lipa, and fans have queued overnight outside stores hoping to snag one, with analysts pointing to the phenomenon as evidence of China's growing soft power. On Tuesday, a teal sculpture depicting a Labubu character with a furry body and head fetched an eye-watering 1.08 million yuan ($150,260) at an auction held in Beijing, according to the auction house's app. The sculpture is "the only piece of its kind in the world", according to Yongle International Auction. It was offered alongside other Labubu paraphernalia including a brown statue that sold for 820,000 yuan. Pop Mart has over 400 stores globally, including 30 U.S. branches. The worldwide frenzy has seen people go to desperate lengths to acquire their own Labubu. Last month a London branch of Pop Mart suspended in-store sales of the toys, fearing violence from would-be buyers who failed to get their hands on the limited-edition Labubus. In Singapore, CCTV footage captured a family stealing Labubu dolls from a claw machine, according to Singaporean online media outlet AsiaOne. Burglars broke into a store in California last week and took several Labubu dolls along with electronics and other valuables, American news outlet ABC reported. In China, the toys have been promised as freebies for new bank customers -- an incentive quickly shut down by local regulators, according to Chinese media reports. The toys have spawned a booming resale market as well as an online community of fans sharing tips on how to customise their dolls. Knockoffs -- many of which are also made in China -- have flooded online platforms, dubbed "Lafufus" by social media users. © 2025 AFP
Asahi Shimbun
11-06-2025
- Asahi Shimbun
Labubu human-sized figure sells for over $150,000 at Beijing auction
A man poses for pictures next to a life-sized Labubu figurine displayed before an auction in Beijing on June 6. The figurine was later sold for 820,000 yuan at an auction by Yongle International Auction on Tuesday. (REUTERS) BEIJING/SHANGHAI--A Beijing auction house sold a human-sized Labubu figure for 1.08 million yuan ($150,275.51) on Tuesday, setting a new record for the 'blind box' toy as it moves from craze to collectible. The event held by Yongle International Auction, which traditionally specializes in modern art as well as jewelry, marked the first ever auction dedicated to Labubu, toothy monster figurines that are mainly sold by China's toy company Pop Mart and have been at the center of a global frenzy for the past year. The auction offered 48 lots for sale and was attended in person by roughly 200 people, while over a thousand bidders put down offers via Yongle's mobile app, the auction house said. The starting price for all the items started at zero and it eventually raised a total of 3.73 million yuan. The highest grossing item, a mint green, 131 cm (4.3 feet) tall Labubu figure, received several bids to sell for 1.08 million yuan. The auctioneer said it was the only one available in the world. A set of three Labubu sculptures, about 40 cm tall and made of PVC material, sold for 510,000 yuan. The set, from a series called 'Three Wise Labubu,' was limited to a run of 120 sets in 2017 and another one sold for HKD 203,200 ($25,889.64) at Sotheby's most recent auction in Hong Kong. Labubu was created a decade ago by Hong Kong artist and illustrator Kasing Lung. In 2019, Lung agreed to let them be sold by Pop Mart, a Chinese toy company that markets collectable figurines often sold in 'blind boxes.' A buyer of a blind box toy does not know exactly what design they will receive until they open the packaging. The starting price for Labubu blind box toys sold in Pop Mart's stores is around 50 yuan. The character's popularity skyrocketed after Lisa of the Korean pop music group Blackpink was spotted with a Labubu and praised the doll in interviews and online posts. Many celebrities followed. In May, British football star David Beckham shared a photo on Instagram of his Labubu attached to a bag. One Yongle auction bidder, a restaurant owner who only gave her surname as Du, said she had planned to spend a maximum of 20,000 yuan but walked away empty handed as the final prices were too high. 'My child likes it so every time when Labubu released new products we will buy one or two items. It is hard to explain its popularity but it must have moved this generation,' she said. ($1 = 7.8487 Hong Kong dollars) ($1 = 7.1868 Chinese yuan renminbi)
