Latest news with #PopMartInternationalGroup
Straits Times
11 hours ago
- Business
- Straits Times
China warning on blind-box toys sends Labubu-maker Pop Mart shares tumbling
Hong Kong - Pop Mart International Group shares slumped in Hong Kong on June 20 a Chinese state media commentary called for stricter regulation of businesses offering 'blind cards' and 'mystery boxes.' Shares of the Beijing-based Labubu-maker dropped as much as 6.2 per cent, after tumbling 5.3 per cent on June 19. Shares in Bloks Group, which sells similar products, fell as much as 7.1 per cent. China should further refine regulations for 'blind cards' and 'mystery boxes' as some of the current business models easily induce minors to become addicted to purchasing these products, according to a commentary by People's Daily, the flagship newspaper of the Chinese Communist Party, citing legal experts. At a traditional Pop Mart store, the 'blind box' toys that the chain is best known for generally sell for 69 yuan and up, but consumers have shown a willingness to shell out much more for limited editions. Last week, a Beijing auction house sold a human-size Labubu figure for 1.08 million yuan (S$193,000), setting a new record and marking the toy's switch from craze to collectible. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Indian Express
a day ago
- Entertainment
- Indian Express
‘Ugly-cute' Labubu doll craze places Pop Mart CEO Wang Ning among China's richest, is worth $22.7 bn
Labubu, the quirky 'ugly-cute' doll, has become an internet sensation and a favourite among celebrities, igniting a new wave of fashion trends. From Rihanna and BLACKPINK's Lisa to Ananya Panday, stars around the world have been spotted showing off their Labubu dolls. Amid the global craze, Wang Ning, CEO of Pop Mart International Group, has now become one of China's ten richest individuals, according to Forbes' Real-Time Billionaires List. His net worth is now estimated at a staggering $22.7 billion, primarily due to his stake in Pop Mart. Created by Hong Kong artist Kasing Lung, the creation first entered the toy industry in 2015. However, it was 2019 when the sales of Labubu dolls skyrocketed after a collaboration with the Chinese toy giant, Pop Mart. The global craze for Labubu has played a key role in fueling Pop Mart's growth. In 2024, the company's net profit reportedly jumped by 188 per cent, with total sales more than doubling from the previous year to reach roughly 13 billion yuan (around $1.8 billion), the report said. Revenues from the Monsters collection, which features Labubu, soared by an extraordinary 726.6 per cent, serving as a major catalyst for the rise in Pop Mart's value. Labubu dolls, priced between $20 and $30, are sold in 'blind boxes', a format where buyers only discover which design they have received after unboxing. This element of surprise sparked a trend across social media platforms like TikTok and Instagram. In an interview with Hypebeast, Lung shared that his time in the Netherlands was a major source of inspiration for the character. 'I liked to read storybooks and was influenced by ancient European elf legends,' he explained. Reflecting on his early years, Lung added, 'There were no game consoles or computers, so I had to draw dolls with a pen, so I had the idea of painting fairy tales since I was a child.'
Hindustan Times
2 days ago
- Entertainment
- Hindustan Times
Ugly-cute makes ultra-rich: Labubu CEO Wang Ning becomes one of China's youngest billionaires
You might not get the Labubu craze, and quite frankly, you wouldn't be the only one. The scruffy, wide-eyed creature that some lovingly call 'ugly-cute' has divided the internet. But whether you love it, hate it, or just don't understand why it's everywhere, there's one undeniable truth: it's made its creator a billionaire. Wang Ning, the founder of Pop Mart International Group, the company behind the viral Labubu toys, has just become one of China's ten richest individuals. As the Labubu continues to fly off store shelves across Asia, Europe, and the U.S., the 38-year-old mogul has climbed to the upper echelons of the country's wealthiest. A post shared by Kasing Lung (@kasinglung) According to Forbes's Real-Time Billionaires List, the Beijing-based chairman is now the 10th richest man in China, with a net worth of $22.7 billion — a fortune largely driven by his stake in Pop Mart. He's also the youngest person to break into this elite billionaire circle, rubbing shoulders with heavyweights like ByteDance founder Zhang Yiming, Nongfu Spring's Zhong Shanshan, and Tencent's Ma Huateng. Pop Mart, currently valued at HK$365 billion, is trading at over 50 times its estimated 2025 earnings — a figure that speaks to the toy's sudden cult following. According to preliminary results announced via the Hong Kong Stock Exchange in April, the company reported a 170% year-on-year growth in sales during the first quarter of this year. Originally launched in 2019 and designed by Hong Kong artist Kasing Lung, Labubu toys are part of the 'blind box' phenomenon. Fans buy a sealed box without knowing which figure they'll get, an irresistible combination of mystery, collectibility, and gamified luck that appeals especially to Gen Z and adult collectors. The dolls, with their oddball charm, have now entered global pop culture. Rihanna, Dua Lipa, and Blackpink's Lisa are both known collectors, helping to rocket Labubu from niche fandom to viral sensation. This cultural crossover is truly translating into some serious cash.
News18
3 days ago
- Entertainment
- News18
Before Labubu, India Had Tatya Vinchu ‘The OG Horror Doll'
Last Updated: Tatya Vinchu made its first appearance in the 1993 horror comedy film Zapatlela. The much-trending Labubu doll has kept social media buzzing. A quirky, toothy doll, created by Hong Kong's Kasing Lung and produced by Pop Mart International Group, Labubu's origin is said to be inspired by Lung's The Monster Trilogy, with its roots in Nordic mythology. Despite the dolls becoming a global sensation, we Indians might have already gotten our very own creepy doll. Remember Tatya Vinchu from the 1993 horror comedy Zapatlela? The one who managed to send chills down our spines every time it uttered, 'Om Phat Swaha." Way before the Labubu dolls turned into an internet obsession, Tatya Vinchu first appeared in the 1993 Marathi film, Zapatlela, terrifying and captivating an entire generation. Over the years, it has emerged as India's OG horror doll. For those who don't know, Tatya Vinchu wasn't just a gimmick prop but a devilish possessed puppet whose menacing eyes and shrill laugh etched him into the minds of the Indian audience for a very long time. The Arrival Of Tatya Vinchu Mahesh Kothare-directed Zapatlela saw the first-ever appearance of the menacing puppet, combining horror and humour in an interesting manner. The film's story follows a police inspector who finds a criminal's soul taking refuge in a doll. The doll—namely, Tatya Vinchu—was operated by renowned ventriloquist Ramdas Padhye and voiced by veteran actor Dilip Prabhavalkar. With a lot of practical effects and a crisp narrative, Zapatlela became a cult classic, and Tatya Vinchu got fixated in the collective memory of Marathi-speaking households. In today's time, Ramdas's son, Satyajit Padhye, carries the legacy forward from films to stages and even social media. 那位大逼 top videos View all However, a major shift came in 2019 when Lung partnered with Pop Mart and started mass-producing blind-box collectibles, boosting worldwide demand. The true frenzy started in April 2024 after Blackpink's Lisa showcased a Labubu keychain, triggering viral demand. With this, the dolls even reached the likes of global stars like Rihanna, Madonna, Dua Lipa, Kim Kardashian, and more. Today, there are over 300 variants of Labubu in both plush dolls and keychains. About the Author Buzz Staff A team of writers at bring you stories on what's creating the buzz on the Internet while exploring science, cricket, tech, gender, Bollywood, and culture. First Published:
Business Times
13-06-2025
- Business
- Business Times
Pop Mart's 200% stock rally spurs rush to hike price targets
WALL Street analysts are rushing to raise price targets on Pop Mart International Group following the success of its Labubu dolls. At least five brokerages, including Deutsche Bank AG and Morgan Stanley, have lifted projections on the Hong Kong-listed stock this week. Citigroup hiked its price target by 90 per cent to a street high of HK$308 apiece, citing the growing influence of the company's intellectual properties globally. Pop Mart shares rose as much as 3.5 per cent on Friday, putting them on track for a fresh record close. The growing popularity of Pop Mart's toothy monster dolls is boosting sales prospects for the firm. THE MONSTERS blind-box series, with Labubu at its center, generated more than 3 billion yuan in sales for Pop Mart last year, accounting for almost one-fourth of the company's revenue. Pop Mart is trading above the 12-month average analyst price target tracked by Bloomberg and the rally has pushed shares to overbought territory. While valuations at 45 times forward earnings have topped that for peers like Sanrio and Walt Disney, some analysts are optimistic that shares can continue to rise after tripling so far this year. The stock is the best performer on the MSCI China Index this year after making it among the biggest gainers on the gauge in 2024. BLOOMBERG
