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Business Times
20-06-2025
- Entertainment
- Business Times
How Pop Mart's Labubu became a monster of a business
LABUBU is a little doll in fleecy, bunny-eared onesies whose coffee-bean eyes hover above a serrated row of smiling teeth. Ostensibly an elf, the creature is either cute or creepy, depending on whom you ask. But one thing is clear – it has become a monster of a business. The dolls have been caught on camera with celebrities such as Rihanna and K-pop superstar Lisa, typically dangling from the strap of a designer bag. Their popularity has propelled the stock of its owner, trendy toy retailer Pop Mart International, more than 180 per cent higher this year. Pop Mart's market value of over HK$350 billion (S$57.4 billion) makes it the world's third most valuable intellectual property (IP) company, behind only The Walt Disney Company and Nintendo. The toy reached a cultural milestone on June 10, when a Labubu figure was sold at an auction for more than 1.2 million yuan (S$214,960), including commission, setting a new record for the brand. The auction followed several successful sales of Labubu items, including one that fetched more than HK$200,000 at Sotheby's Hong Kong in late May. Labubu has been crucial to Pop Mart's success, with the toy line it belongs to accounting for nearly a quarter of the company's total revenue last year. The toy has spawned bidding wars, unruly lines outside stores, and a minor controversy at a Chinese bank. Its rise serves as a case study in how to turn a character no one had heard of 10 years ago into the must-have toy of the year. Pop Mart's strategy employed a shrewd mix of cultivating exclusive IP, creating scarcity, leveraging social media, and introducing a bit of gamble into the purchasing of its products. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The phenomenon shows China's growing potential to produce global money spinners from its cultural creations. Labubu's success echoes that of Black Myth: Wukong, the Chinese-made video game released in 2024 that became one of the fastest-selling titles of all time. 'The rise of China's trendy toy IP reflects the same trend as the global breakout of Chinese entertainment content in recent years. This phenomenon underscores China's growing national strength, particularly the rising competitiveness of its cultural industries,' said Fan Junhao, chief analyst for consumer discretionary at Huatai Securities. The making of a monster Labubu is the creation of Hong Kong artist Kasing Lung, who came up with the creatures in 2015 for his book series 'The Monsters'. Lung gave them a simple backstory. Labubu are forest-dwelling elves whose existence dates back millions of years, at least to the time of the dinosaurs. They number about 100 and are all female. In 2019, the artist signed an agreement with Pop Mart, granting the company exclusive rights to produce and sell toy versions of the storybook sprites, launching Labubu under its 'The Monsters' series. Much like there is more than one Labubu in Lung's story, there are a variety of Labubu toys on Pop Mart's shelves. The main difference is in the colouring, with different Labubu sporting a different colour of bunny-eared onesie, though the eyes, nose and teeth can also be colored differently. A Labubu figure and Labubu stickers are seen at a Pop Mart shop in Beijing. A Beijing auction house sold a Labubu figure for over US$150,000, as global demand for the dolls reaches fever pitch. PHOTO: AFP Some Labubu are rarer than others. One particularly sought-after version sports a charcoal grey onesie and a distinctive set of rainbow-colored teeth. Pop Mart sells the Labubu in 'blind boxes', so that buyers don't know which one they are getting until they tear open the packaging. This drives sales as it leaves particularly fanatical Labubu fans with no other choice than to keep buying the toy until they get the Labubu in their preferred colour of onesie. The toy was not an overnight hit. The dolls were originally made of hard vinyl, but sales started to pick up once Pop Mart started selling Labubu plush toys on key rings and as larger dolls in 2023. The watershed moment came the following year, when Lisa, the Thai member of the K-pop girl group Blackpink, repeatedly showcased her collection of Labubu plushies on social media. A buying frenzy began across South-east Asia. The impact was immediate. Pop Mart's revenue from 'The Monsters' series grew more than eightfold in 2024, making up 23.3 per cent of its total revenue, according to the company's financial report. Its plushie sales, spearheaded by Labubu, skyrocketed 1,289 per cent. South-east Asia emerged as Pop Mart's largest international market, contributing nearly half of total overseas revenue, which surged 375 per cent to nearly 5.1 billion yuan. Labubu's popularity is especially evident in Thailand. Outside Pop Mart's three-storey flagship store in Bangkok's bustling Siam Square, security guards watched over lines of customers on June 6. 'Around 500 tourists come each day just for Labubu, mostly Thais and Chinese', said a store employee. The employee said that Labubu plushies were sold out at every brick-and-mortar Pop Mart in the country. The unmet demand has created a grey market of unauthorized Labubu dealers. Just 50 meters from the official store, a tiny, unnamed shop stocks nearly every kind of Labubu – some priced at more than twice the official retail price. At the shop, one Chinese customer dropped more than 9,000 baht (S$353) on Labubu in a matter of minutes. Another customer, a tourist in his 50s, said he had no choice but to pay scalper prices to secure a Labubu for his daughter. 'The official store had nothing left,' he said. The Labubu fever has spread beyond South-east Asia. After pop superstar Rihanna was spotted with a pink Labubu hanging from her designer bag at an Los Angeles airport in February, the US and the UK got caught up in the frenzy. The release of the third-generation Labubu plushies two months later led to viral reports of overnight lines and fights breaking out among desperate customers outside Pop Mart stores. The toy's popularity has even impacted the Chinese banking industry, of all places. Caixin learned that several branches of Ping An Bank had to suspend a promotion that offered free Labubu toys as rewards for opening new accounts following discussions that the giveaway might be a violation of banking rules. Financial institutions in southeastern China have recently received regulatory reminders about the ban on attracting deposits with gifts, sources told Caixin. However, it remains unclear whether these warnings were related to the Labubu promotions. The game plan Pop Mart follows a three-part business model employed by many Chinese toy retailers, which blends premium IP with gamified retail and social media dissemination, the analyst Fan said. Under the model, companies either create original IP or acquire and manage existing properties, ensuring their products meet premium quality standards, Fan said. With strong IP as the cornerstone, they then turn buying their products into a kind of game. The randomness of the blind boxes sparks online discussions and a desire among customers to keep buying so they can collect an entire series of products. This also generates a secondary market driven by scarcity and rising value of the products among collectors. The third component is social media amplification, Fan said, explaining that companies leverage celebrity endorsements and encourage user-generated content such as memes to create a trend with mass-market appeal. An auctioneer congratulates the buyer who won the bid for a Labubu figurine, during an auction by Yongle International Auction in Beijing on June 10. PHOTO: REUTERS 'Lisa played a significant role in propelling Labubu into the mainstream,' said a designer specialising in trendy toy IP. 'Celebrity endorsements remain the most effective breakthrough strategy – a tried-and-tested approach drawn from the luxury sector.' In addition, unlike hard vinyl figures, the plush versions of Labubu possess a more inherent 'social' quality, and added straps make it easier for celebrities to wear and display them, the designer said, noting that, like Pop Mart, many toy companies are now developing their own 'fuzzy' collectible lines to leverage celebrity influence and drive sales. While Chinese brands have only recently perfected this approach, it has a long track record of success for global toy brands such as Kaws, Bearbrick and Jellycat, said Fan, who emphasised the model allows customers to be more than mere buyers, but content creators as well. Toy companies ought to evolve beyond being simple manufacturers or distributors, Fan said. Rather, they should become IP operating platforms, or even content creation companies. Chen Chufang, a former IP specialist for a toy company, believes that for an IP to become popular globally, it needs more than celebrity endorsements. It's just as important to have high-profile retail stores abroad. 'Opening a standout collectible toy store overseas makes a far bigger impact than doing so in China,' he said. By the end of 2024, Pop Mart had opened 130 stores overseas, locating most of them in prominent spots like Oxford Street in London and the Louvre in Paris, making it the first Chinese toy brand to enter the iconic museum. 'Previously, overseas IP derivatives were expensive. But now, Chinese companies are reaching overseas customers with relatively reasonable pricing and the novelty of blind boxes, while putting stores in core local commercial districts. They are becoming disruptors,' Chen said. CAIXIN GLOBAL
Yahoo
13-06-2025
- Business
- Yahoo
The Walt Disney Company (DIS): 'The Stock Can Go Much Higher,' Says Jim Cramer
We recently published a list of . In this article, we are going to take a look at where The Walt Disney Company (NYSE:DIS) stands against other stocks that Jim Cramer discussed. The Walt Disney Company (NYSE:DIS) is one of the biggest legacy media companies in America. It is also one of Cramer's top stocks in the traditional media sector. While the CNBC host regularly fawns over Netflix and believes it is the top streaming stock in the world, he also holds the opinion that The Walt Disney Company (NYSE:DIS) is turning its ship around. In his previous comments about the firm, Cramer has advised viewers to buy the shares and expressed optimism about its theme parks. Here are his recent thoughts about The Walt Disney Company (NYSE:DIS): "I've been hoping that Disney had a hit, this Lelo & Stitch is a hit. And I've got to tell you, this is again, a change in Disney. The movies have a family feel, not political. It's returned to the roots, and I think it's a big winner and that Disney's still undervalued. In his earlier remarks, Cramer discussed The Walt Disney Company (NYSE:DIS)'s parks and its movie business: 'Look, these things occur every day around here. Think about what happened to the stock of Disney in the last few months… A month ago, it was at $82…. People were buzzing about how the theme parks are too expensive. The sports entertainment's too expensive. The movies are either too woke or not woke enough, depending on who you ask. You never heard anyone say, did it got the right amount? Now, one month later, Disney's at $112 pretty much in a straight line. Overall, DIS ranks 2nd on our list of stocks that Jim Cramer discussed. While we acknowledge the potential of DIS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. This article is originally published at . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-06-2025
- Business
- Yahoo
Jim Cramer on The Walt Disney Company: 'I'd Like You to Buy More'
The Walt Disney Company (NYSE:DIS) is one of the 15 stocks that Jim Cramer recently talked about. Acknowledging that their investment in the stock did not make them money, a caller inquired if they should sell The Walt Disney Company (NYSE:DIS). In response, Cramer said: 'No, no. I think Disney's finally getting its feet right. I think that it had some management turnover. They're getting things, I like a lot of the things that Iger's doing now… I want you to stay. If anything, I'd like you to buy more…. Remember, we don't care where a stock came from, we care where it's going to. I think it's going higher.' A packed theater of moviegoers watching a blockbuster film produced by the entertainment company. Walt Disney (NYSE:DIS) creates and distributes a wide range of entertainment content as it operates streaming platforms, manages themed resorts, and sells consumer products. The company is also using its intellectual property across media, merchandise, and experiences. Additionally, Cramer favored the company stock even a few months ago, as he said in a February episode of Mad Money: 'You need someplace to go, don't you? I keep hounding you to buy the stock of Disney because it's doing so well. Yet all people seem to care about is that some weak link in the cable business that I think is gonna pick up this quarter anyway. Theme parks, yes, they are expensive, but it doesn't seem to stop people from going to them. While we acknowledge the potential of DIS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Sign in to access your portfolio
The Star
11-06-2025
- Entertainment
- The Star
Disney's Stitch crash lands at Pavilion Kuala Lumpur this school holiday
Disney's Stitch crash lands at Pavilion Kuala Lumpur this school holiday, bringing fun and excitement for visitors of all ages. KUALA LUMPUR: Get ready for a school holiday filled with tropical vibes as Pavilion Kuala Lumpur (PKL) transforms into a seaside paradise featuring Disney's Lilo & Stitch. Under the umbrella campaign of 'Aloha Summer' and in celebration of the live-action reimagining of Disney's Lilo & Stitch, visitors of all ages are invited to extend their love for Stitch beyond the screen at PKL's pop-up, running from now until June 15. Embark on an enchanting journey with the mischievous blue alien through adorable installations, exciting activities, special merchandise and unforgettable photo moments that bring the beloved character to life. PKL chief executive officer (retail) Datuk Joyce Yap said that the collaboration with Disney brings a special heartwarming and nostalgic touch to the festivities. 'Our 'Aloha Summer' campaign brings Stitch's playful spirit to life in a way that resonates with both longtime fans and newcomers alike. 'By featuring this beloved character in our mall-wide activation, we've created an activation that captures the essence of what makes Stitch's story so special - the perfect blend of adventure, mischief, and heart that appeals to visitors of all ages while embodying a summer vibe that everyone loves.' Visitors stepping into PKL's Centre Court will find themselves transported to a vibrant paradise complete with colourful tropical decorations inspired by Stitch's island home. (From left) The Walt Disney Company brand commercialisation (Malaysia) director Geraldine Naidu, Stitch mascot, Yap and executive vice president, group community financial services marketing head (regional cards) Vichelle Woon spreading the Ohana fun with Pavilion Junior. Shoppers can explore pop-up booths and exclusive activations by Parkson with select customisable merchandise, Miniso with a special Stitch-themed vending machine, Metapark with Stitch-themed collectibles and more. Lego will also be displaying creative Stitch figurine blocks on the malls' Spanish Steps for all to admire. Over at the Connection precinct, the Lilo & Stitch-themed Watsons Pop-Up awaits, featuring limited-edition products inspired by Lilo & Stitch, tropical gifts and delightful surprises throughout the shopping journey. Maybank Cardholders enjoy special privileges, with opportunities to receive a Lilo & Stitch themed furry pouch, a plush keychain blind box, or a puffy tote bag. 'At PKL, we're committed to crafting extraordinary experiences that transform everyday shopping into treasured family moments. 'This Lilo & Stitch-themed celebration embodies our vision of creating spaces where meaningful connections flourish. 'When families laugh together at Stitch's antics or share in the wonder of our tropical paradise, they're building emotional bonds that endure far beyond their visit. 'In today's fast-paced world, these shared experiences become the foundation of family stories that will be retold for years to come - and that's the true magic we aim to create at PKL,' added Yap. The tropical paradise extends beyond the Stitch-themed installations with a full line-up of entertainment - all exclusively organised by PKL as part of the 'Aloha Summer' activities. Shoppers can enjoy sweet treats from Frost N Bites, radiant ukulele performances from Ferris Music, Summer K-pop by Q-girls and Latin Breeze in Hawaii dance shows and kids' workshops organised by Curiouser London that blend creativity with educational elements - further cementing the mall's reputation as the ultimate destination for family fun and learning this school holiday. For more information, visit *Terms and conditions apply.
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First Post
08-06-2025
- Entertainment
- First Post
Miley Cyrus didn't have permission to perform 'Hannah Montana' songs: 'It was sad that...'
Last year, Cyrus was named a Disney Legend at D23 2024. Post which, she was allowed to perform the songs of the show. 'It was pretty cool,' she added. read more Hollywood actor-singer Miley Cyrus says she wasn't allowed to perform songs from her show 'Hannah Montana' after exiting Disney. Cyrus rose to fame with her role in the show, which ran from 2006-2011 on Disney channel. In 'Hannah Montana', Cyrus portrayed the role of a teenager, living a dual life as a regular girl and a popular pop star. The 32-year-old singer, who has tracks such as 'We Can't Stop', 'Wrecking Ball', and 'Flowers' to her credit, said she didn't want to perform the 'Hannah Montana' songs, but it did make her upset. STORY CONTINUES BELOW THIS AD 'After I left Disney, I wasn't allowed to perform any of the 'Hannah Montana' music. It's not like I wanted to, I mean, performing 'The Best Of Both Worlds' between 'We Can't Stop' and 'Wrecking Ball,' wouldn't have really made sense,' she said on The Ringer podcast. 'It was still sad knowing those songs have my voice, my face, and I wasn't allowed to sing them,' she added. Last year, Cyrus was named a Disney Legend at D23 2024. Post which, she was allowed to perform the songs of the show. 'It was pretty cool,' she added. Disney Legend is an honourific title bestowed by The Walt Disney Company on individuals who have made a significant impact on the Disney legacy. Cyrus' latest project is a 55-minute visual album, titled 'Something Beautiful'. It will release in theatres worldwide on June 27. Prior, it will hit big screen in US on June 12. It comprises 13 tracks.
