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Japan Today
6 days ago
- Entertainment
- Japan Today
Labubu not the first toy craze, and certainly won't be the last
By MICHELLE CHAPMAN Pop Mart has struck it rich. The Chinese company that caters to toy connoisseurs and influencers said this week that it expects profit for the first six months of this year to jump by at least 350% compared with the prior-year period, largely because of its smash hit plush toy, the Labubu. Pop Mart joins a small list of companies that have tapped into the zeitgeist, drawing in millions of buyers who, for one reason or another, simply must get their hands on a toy or gadget of the moment. But what makes the Labubu a must-have, or any toy for that matter, is a decades-old question that toy makers have yet to figure out. Here's a look at some of the most popular toys over the years. Cabbage Patch Kids began as chubby-faced dolls with yarn hair that came with adoption papers. During the 1980s the dolls were so popular that parents waited in long lines at stores trying to get a hold of them. More than 90 million Cabbage Patch Kids were sold worldwide during their heyday. Cabbage Patch Kids, which were created by Xavier Roberts and initially sold by Coleco, were relaunched in 2004, looking to take part in the successful return of other popular 1980s toys including Strawberry Shortcake, Care Bears and Teenage Mutant Ninja Turtles. A Cabbage Patch Kid museum named BabyLand General Hospital still exists in Cleveland, Georgia. The dolls entered the National Toy Hall of Fame in 2023. Beanie Babies captivated consumers in the mid-1990s. The cuddly $5 toys were under-stuffed for maximum hug-ability, stamped with cute names on their Ty Inc. tags, and given limited edition runs. Many people collected, traded and sold the toys with the hopes that their value would just keep going up at the dawn of the e-commerce age. It made some people money, and the founder, Ty Warner, a billionaire in three years. In 2014 Warner learned that he would not go to prison for hiding at least $25 million from U.S. tax authorities and instead received two years' probation. Warner, one of the highest profile figures snared in a federal investigation of Americans using Swiss bank accounts to avoid U.S. taxes, had pleaded guilty to a single count of tax evasion. Looking for a pet without the real-life responsibilities? Well then the Tamagotchi electronic pet from Bandai was for you. Consumers were hooked on the egg-shaped plastic toy that first launched in Japan in 1996 and became a craze worldwide in the late 1990s and 2000s. Users were tasked with taking care of their virtual pet by pressing buttons that simulate feeding, disciplining and playing with the critter on screen. If a Tamagotchi is neglected, it dies. In 2013 Tamagotchi was reborn as a mobile app, duplicating the experience of the plastic handheld toy. The toy was inducted into the World Video Game Hall of Fame in May. Fidget spinners — the 3-inch twirling gadgets that took over classrooms and cubicles — were all the rage in 2017. The toy was considered somewhat of an outlier at the time, given that it wasn't made by a major company, timed for the holiday season, or promoted in TV commercials. Fidget spinners were more easily found at gas stations or 7-Eleven than at big toy chains. Fidget spinners had been around for years, mostly used by kids with autism or attention disorders to help them concentrate, but they became more popular after being featured on social media. While hot toys are often made by one company, fidget spinners were made by numerous manufacturers, mostly in China. The toys were marketed as a concentration aid but became so popular among children that many schools started banning them, saying that they were a distraction. The Labubu, by artist and illustrator Kasing Lung, first appeared as monsters with pointed ears and pointy teeth in three picture books inspired by Nordic mythology in 2015. In 2019 Lung struck a deal with Pop Mart, a company that caters to toy connoisseurs and influencers, to sell Labubu figurines. But it wasn't until Pop Mart started selling Labubu plush toys on key rings in 2023 that the toothy monsters suddenly seemed to be everywhere, including in the hands of Rihanna, Kim Kardashian and NBA star Dillon Brooks. K-pop singer Lisa of Blackpink began posting images of hers for her more than 100 million followers on Instagram and on TikTok, where Labubu pandemonium has broken out. Labubu has been a bonanza for Pop Mart. Its revenue more than doubled in 2024 to 13.04 billion yuan ($1.81 billion), thanks in part to its elvish monster. Revenue from Pop Mart's plush toys soared more than 1,200% in 2024, nearly 22% of its overall revenue, according to the company's annual report. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Japan Today
11-07-2025
- Business
- Japan Today
Bitcoin tops $118,000 for the first time, as the cryptocurrency continues to climb to new heights
By MICHELLE CHAPMAN and WYATTE GRANTHAM-PHILIPS Bitcoin has reached yet another all-time high, surpassing $118,000 for the first time on Friday — as a flood of money continues to move into spot bitcoin ETFs, all while U.S. President Donald Trump's crypto-friendly influence makes its way through Washington. According to data from CoinMarketCap, the going price for bitcoin climbed as high as $118,856 early Friday. It's since fallen closer to $117,300 around 12:30 p.m. ET — but that's still over $7,400 higher than what the world's most popular cryptocurrency was trading at a month ago, and more than double its price this time last year. Spot bitcoin ETFs opened up cryptocurrency investing more widely after launching last year — and analysts have pointed to record inflows recently. And a soft U.S. dollar and the digital currency friendliness of Trump's administration also has helped to lift the price of bitcoin to unprecedented levels over the past few months. Last month, the Senate passed legislation that would regulate a form of cryptocurrency known as stablecoins, the first of what the industry hopes will be a wave of bills to bolster its legitimacy and reassure consumers. Known as the GENIUS Act, the bill would establish guardrails and consumer protections for stablecoins, a type of cryptocurrency typically pegged to the U.S. dollar. The acronym stands for 'Guiding and Establishing National Innovation for U.S. Stablecoins.' And next week, the House of Representatives will be considering this bill as part of Congress' efforts to strengthen the country's crypto position. The fast-moving legislation comes on the heels of a 2024 campaign cycle in which the crypto industry ranked among the top political spenders in the country. Trump, once a crypto skeptic, became a major promoter of the industry throughout his presidential run last year — and has since moved to expand his and his family's own crypto empire even further. Earlier this week, Trump Media & Technology Group said it had filed paperwork with the Securities and Exchange Commission seeking approval to launch its 'Crypto Blue Chip ETF' later this year. Bitcoin's rise also arrives amid a wider backdrop of economic uncertainty, notably the global turmoil spanning from Trump's steep — and at times on-again, off again — new tariffs the president has imposed against key trading partners worldwide. 'Bitcoin has shown resilience this year rebounding in-line with its macro exposures following tariff announcements," Citi analysts wrote in a Friday research insights. But again, they noted that the Trump administration 'has been positive for Bitcoin' overall — and attributed bitcoin's recent rally to overall changes to the outlook of U.S. regulation, as well as investments into spot ETFs. Bitcoin's backers have often argued that the asset is like a 'digital gold' that can act as a hedge against volatility — but many have remained skeptical of that comparison. Larger market conditions have previously proven also to sway bitcoin's price. In April, amid a wider selloff following Trump's sweeping 'Liberation Day' tariff announcements, bitcoin briefly dipped below $75,000. That marked the cryptocurrency's lowest price since before Trump's Election Day victory in November. While bitcoin has since rebounded significantly, it's important for investors to remember that it's still a highly volatile — and relatively new — asset that's seen wild swings in value before. In short, history shows you can lose money in crypto as quickly as you've made it. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Japan Today
28-05-2025
- Business
- Japan Today
Salesforce is buying Informatica in deal worth approximately $8 billion
FILE - People walk past the Salesforce Tower in New York on Thursday, May 8, 2025. (AP Photo/Ted Shaffrey, File) By MICHELLE CHAPMAN Salesforce is buying AI-powered cloud data management company Informatica in an approximately $8 billion deal. Informatica's shareholders will receive $25 per share, a premium of about 11% from Friday's closing price of $22.55. The transaction will give Salesforce access to Informatica's data management capabilities. Informatica was taken private in 2015 by private equity firm Permira and the Canada Pension Plan Investment Board for about $5.3 billion. It went public again in 2021. 'Joining forces with Salesforce represents a significant leap forward in our journey to bring data and AI to life by empowering businesses with the transformative power of their most critical asset — their data,' Informatica CEO Amit Walia said in a statement on Tuesday. 'We have a shared vision for how we can help organizations harness the full value of their data in the AI era.' Robin Washington, president and chief operating and financial officer at Salesforce, said in a statement that the acquisition will look to take advantage of Informatica's capabilities quickly, particularly in areas such as the public sector, life sciences, health care, and financial services. San Francisco-based Salesforce is set to report its quarterly financial results Wednesday after the bell. Both companies' boards have approved the deal, which is expected to close early in Salesforce's fiscal 2027. Shares of Salesforce rose slightly before the market open, while Informatica's stock jumped 5.7%. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
