Latest news with #WangNing
India Today
4 days ago
- Entertainment
- India Today
Labubu mania: How a quirky doll made Pop Mart a global giant
A small toy with big eyes, messy hair, and a wide toothy smile is taking the world by storm, and helping build a billion-dollar empire along the way. Meet Labubu, the odd-looking but loveable doll that's become a social media sensation, a collector's dream, and the crown jewel of China's booming toy brand, Pop QUIRKY COLLECTABLE TO GLOBAL SENSATIONLabubu is not just a toy, it's a trend. Created by artist, Kasing Lung, the quirky doll started off as a character in a picture book inspired by Nordic mythology. It later became part of a blind box toy series launched by Pop Mart in 2019. Blind boxes are sealed packs that don't reveal what's inside until you open them, a surprise that fans, especially Gen Z and millennials, find hard to then, Labubu has gone viral. From unboxing videos on TikTok to appearances on the arms of celebrities like BLACKPINK's Lisa, Rihanna, and Dua Lipa, the toy has become a pop culture icon. Some limited-edition versions even sell for six-figure prices in resale MART'S RISE WITH LABUBU Founded in 2010 by Wang Ning, Pop Mart began as a small shop in Beijing selling comics and phone covers. But once Wang noticed the growing love for designer toys, he switched focus. First came the Molly doll, but it was Labubu that truly changed the Mart went public on the Hong Kong Stock Exchange in late 2020, and its shares have jumped more than 500% in the last year, according to the value of Pop Mart's Hong Kong-listed shares has soared three times this year, exceeding HKD $270 (US $34.40), as per company now operates stores across Asia and ships toys worldwide. It's not just seen as a toy brand anymore; Pop Mart is compared to fashion and luxury labels for the cult-like loyalty of its NING: NOW AMONG THE RICHEST PEOPLE IN CHINAAt the heart of this success is Pop Mart's 38-year-old founder Wang Ning, now one of China's top 10 richest people. As of June 2025, he's worth $22.7 billion, according to Forbes, all thanks to spotted the potential of mixing art, surprise, and collectability early on. His company's focus on emotional connection and design has turned small plastic toys into status EVERYONE WANTS A LABUBULabubu's charm lies in its story and design. Originally featured in the 2015 book series The Monsters Trilogy, which draws from Nordic myths, Labubu is portrayed by Pop Mart as a kind-hearted, elf-like creature who tries to help but often causes unintended dolls are made in various seasonal and limited-edition styles, which makes collecting them even more to the buzz are 'secret' editions, super-rare versions with only a 1-in-72 chance of appearing in a blind box. These often become collector gold, fetching thousands doll even made an appearance at Paris Fashion Week, further blurring the lines between toys and fashion.A TOY THAT'S MORE THAN JUST A TOYadvertisementWhat started as a niche book character has grown into a global sensation, sparking queues outside stores, a trading frenzy online, and a whole new category of luxury collectables. Labubu isn't just a toy, it's a movement, and it's showing no signs of slowing Pop Mart's soaring valuation and Wang Ning's rising fortune, one thing is clear: this bug-eyed doll has become a billion-dollar force in the world of business, fashion, and fun.- Ends
Independent Singapore
5 days ago
- Entertainment
- Independent Singapore
A bunny made him a billionaire: Pop Mart's Labubu turned Wang Ning into China's youngest tycoon
CHINA: In the world of designer items, where a whimsical mind meets commerce, few stories are as astonishing and as pleasantly peculiar as that of Wang Ning and his business, Pop Mart. At age 38, Wang has soared into the exalted ranks of China's top 10 wealthiest individuals, and he owed it to the breakneck fame of a playful, rabbit-like character named Labubu. In the latest Forbes ' billionaire list, Wang now claims an overwhelming net worth of $22.7 billion, making him the 10th richest individual in China. His meteoric rise, according to a recent article published by Punchng , mirrors not only the financial triumph of the Pop Mart International Group but also the cultural sensation that the company has triggered worldwide. From niche to global craze Created by Hong Kong-born artist Kasing Lung, Labubu isn't your archetypal fluffy mascot. With round, enlarged eyes manifesting an 'innocent gaze', shabby fur, and a 'nonchalant brashness,' the vinyl figure has found an improbable fan base extending from Asia to Europe to the U.S. The company's shares, traded on the Hong Kong Stock Exchange, have risen threefold in 2025, now soaring above HK$270 ($34.40), driving Pop Mart's market value to a jaw-dropping HK$365 billion. 'This is more than just a toy—it's a cultural export,' according to Deutsche Bank analyst Jessie Xu in a recent note. 'It's rare for a comic or toy IP to break cultural walls so effectively, appealing to both Asian fans and Western pop culture icons.' Indisputably, Labubu's list of 'devotees' reads like a music holiday roster — Rihanna, Dua Lipa, and Lisa of Blackpink — have all been seen with Pop Mart's iconic figures, bolstering the brand's worldwide desirability and X-factor. Billionaire at play Wang Ning's journey is a masterclass in niche advertising and shrewd brand building. Established in 2010, Pop Mart began as a tiny Beijing store fixated on blind-box novelties — taped-up parcels that make the toy inside a surprise until unlocked. The idea swiftly progressed into a fever of swapping, selling, trading, collecting, and social media sharing, building a 'subculture' that is a lot different from that of streetwear or sneaker culture. Labubu took the company to another level. When the third edition showed up in April, scenarios at a London Pop Mart store looked like Black Friday havoc — fans pushed and shoved to grab the £13.50 to £50 toys, while others resold them online for hundreds. In Beijing, a full-size Labubu recently made 1.08 million yuan ($150,000) at a public sale, fortifying its position as a luxury collectible. Even banks took part in the fun, Ping An Bank offered Labubu dolls as an 'incentive' to new account holders who placed more than 50,000 yuan as a deposit. The promotional stunt was so effective, regulators noticed it and eventually stopped. Investors took note Pop Mart's spectacular upsurge hasn't gone unobserved on Wall Street. Deutsche Bank recently increased its price target for the stock by 52%, and Morgan Stanley followed, speculating on the brand's international growth. Labubu and Pop Mart's route is vastly different from the conventional path to affluence in China, such as real estate, tech, or manufacturing. Instead, Wang Ning proved that pop culture can be just as potent as an engine for progress. Now hobnobbing with giants like ByteDance founder Zhang Yiming, Nongfu Spring's Zhong Shanshan, and Tencent's Ma Huateng, Wang is the newest and youngest member of China's billionaire exclusive. However, unlike his equals, his domain didn't grow through data or drinks, but on a radiant, tiny rabbit with a grunge smile. As hoarders and fans queue for the next release of Labubu, its influence grows further, and one thing is clear — with the kind of global economy at present, quirkiness and wealth are, in reality, closely aligned.
Time of India
19-06-2025
- Entertainment
- Time of India
Meet Wang Ning, Pop Mart CEO who's viral Labubu doll made him one of China's top 10 billionaires with a $22.7 billion fortune
Labubu, a Chinese doll, is a worldwide phenomenon dominating the internet. The strange toothy-eyed plus doll has turned into a viral hit, fashion statement and pop culture symbol, particularly among Gen Z collectors. These blind boxes and limited-edition dolls have created huge demand, ranging from the long store lines to resale prices going into six figures. This viral craze has made founder of Pop Mart International, Wang Ning, a top 10 richest billionaire in China with a net worth of more than $22 billion. Labubu trend makes Pop Mart founder Wang Ning China's top 10 billionaires Behind the dynamism of Pop Mart's explosive expansion is its 38-year-old founder, Wang Ning. A Zhengzhou University graduate in advertising, Wang opened the company's first store in 2010 in Beijing's tech district, Zhongguancun. The store initially sold comics and phone accessories but shifted to collectible toys when Wang saw a gap in the market. In 2016, he teamed up with artist Kenny Wong to introduce the Molly doll series, which turned out to be a business success. But it was Labubu that rocketed Pop Mart and Wang to the stratosphere. Wang is now China's 10th richest man with a net worth of $22.7 billion , according to Forbes' Real-Time Billionaires List . by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 年最紓壓的農場遊戲！無需安裝 東加：島嶼農場 立即播放 Undo He is also the youngest member of China's elite billionaire club. Labubu dolls : From blind box toy to international sensation Labubu dolls, with their unkempt hair, smiling faces, and alternative appeal, were created by Hong Kong designer Kasing Lung in 2019. Available in forms of plush toys, vinyl characters, and blind box mystery, the collectible series plays off the excitement of surprise and rarity. Customers usually have no idea what figure they'll receive until they unpack the box; a surprise that has been too tempting for Gen Z and millennial shoppers to resist. From the unboxing on social media to streetwear combinations, Labubu dolls have gone mainstream. They have been seen up close with such celebrities as Rihanna, Dua Lipa, and BLACKPINK member Lisa, who have contributed to the doll's transformation from bohemian cult favourite into global fashion phenomenon. Pop Mart becomes a $365 billion powerhouse thanks to Labubu At the heart of this whirlwind success is Pop Mart International Group, the toy firm behind Labubu. Pop Mart has expertise in designer toys and blind box culture, combining art, collectability, and consumer psychology. The company's success has been meteoric, largely owing to its skill in transforming toys into fashionable lifestyle products. Pop Mart shops all over Asia and online websites often sell out in minutes, with resale prices of Labubu dolls reaching two to three times the original price. Some limited versions even sell for six-figure figures, such that they become highly sought-after amongst collectors. Pop Mart was listed in December 2020 at a market cap of $12.5 billion, raising $676 million in its IPO on the Hong Kong Stock Exchange. Ever since, its expansion has been proceeding at a remarkable rate. Shares have tripled, with just HK$365 billion in 2025 alone. Pop Mart, in its latest quarterly filing, reported a 170% year-over-year jump in sales, led by Labubu's aggressive growth. This expansion has prompted comparisons to business groups like Funko and even luxury fashion brands as far as cult-like status and customer loyalty are concerned. How blind boxes and social media transformed Labubu into an international sensation The trend is fueled by a combination of creative design, nostalgia, and healthy online communities, Pop Mart's brand executives say. Enthusiasts use social platforms such as TikTok and Instagram to post sophisticated display arrangements, exchange rare toys, and even dress up Labubu toys as accessories. The blind-box model introduces a gamified experience consumers aren't merely purchasing a product; they're engaging in a game of fortune. Coupled with limited releases, seasonal drops, and celebrity promotion, Labubu has become a cultural phenomenon. Maybe due to its quirky looks, Labubu has been polarizing. Some have called it "creepy," "overhyped," or even "odd." Others see it as an ingenious combination of street culture and collectible art. This divisive attraction has only spawned more attention, making every new drop a spectacle. Also Read | 5,000-year-old dress discovered in Egyptian tomb reveals the ancient craftsmanship
Hindustan Times
18-06-2025
- 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$365 billion, is trading at over 50 times its estimated 2025 earnings — a figure that speaks to the toy's sudden cult following. According to preliminary results announced via the Hong Kong Stock Exchange in April, the company reported a 170% year-on-year growth in sales during the first quarter of this year. Originally launched in 2019 and designed by Hong Kong artist Kasing Lung, Labubu toys are part of the 'blind box' phenomenon. Fans buy a sealed box without knowing which figure they'll get, an irresistible combination of mystery, collectibility, and gamified luck that appeals especially to Gen Z and adult collectors. The dolls, with their oddball charm, have now entered global pop culture. Rihanna, Dua Lipa, and Blackpink's Lisa are both known collectors, helping to rocket Labubu from niche fandom to viral sensation. This cultural crossover is truly translating into some serious cash.
India.com
18-06-2025
- Entertainment
- India.com
Meet Labubu Love, Sensational Doll That Has Sent Internet Into Frenzy For...
photoDetails english 2917920 Updated:Jun 18, 2025, 05:04 PM IST Rohit Sharma's Instagram Story 1 / 7 A fluffy, quirky-looking doll with fangs recently puzzled Indian cricketer Rohit Sharma. He posted a photo of the figurines on his Instagram story, writing, "My girls tried explaining these to me, I still don't get it." His wife and daughter aren't the only fans — the Labubu doll has taken social media by storm, captivating everyone from Gen Alpha to Gen X. Pop Mart's Chairman and CEO, Wang Ning 2 / 7 The dolls have become a huge hit across Asia, the US, and Europe, leading to massive profits for Pop Mart, the company based in Beijing. The company's stock, listed on the Hong Kong stock exchange, has tripled in value since it closed at HK$ 89.65 on December 31. This rapid rise in popularity and earnings has pushed Pop Mart's Chairman and CEO, Wang Ning, into the top ten richest people in China for the first time. According to Forbes' Real-time Billionaires List, his net worth has reached $22.7 billion as of June 12. Pop Mart revenue 3 / 7 In 2024, Pop Mart earned $1.8 billion in revenue—more than twice what it made the year before. With the rising popularity of its toys, major financial firms like Deutsche Bank and Morgan Stanley have raised their stock price targets by 30 to 50 percent. Biggest viral trends 4 / 7 Celebrities such as Rihanna, Dua Lipa, David Beckham, Ananya Panday, and Sharvari Wagh have been seen showing off these tiny charms. Their endorsement has transformed Labubu from a simple plush toy into a trendy fashion accessory and one of 2025's biggest viral trends. Human sized figure doll 5 / 7 The Labubu doll craze has taken the world by storm, reaching new heights with a recent auction of a human-sized figure that fetched over 1 million yuan. According to Reuters, a Beijing auction house sold the life-sized Labubu for 1.08 million yuan (around $150,275) earlier this week — a clear sign of the collectible's soaring popularity. Labubu figure unique design 6 / 7 Standing at 131 cm (4.3 feet) tall, the mint green Labubu figure was the highest-selling item at the auction. Its unique design and limited availability make it a prized possession among Labubu enthusiasts. Blind Box 7 / 7 Influencers say the craze is largely due to Pop Mart's unique distribution method. Each Labubu figure comes in a 'blind box,' so buyers don't know which colour or design they'll receive. This mystery adds excitement to the unboxing experience and often encourages customers to keep buying until they find the one they want.
