How a Small Chinese Store Became a $40B Toy Empire: The Rise of Pop Mart and Labubu Dolls
Started in 2010 by then-23-year-old entrepreneur Wang Ning as a small shop selling toys in China, Pop Mart has grown into a giant with a market cap of US$40 billion thanks to the popularity of its Labubu character. The Beijing-based toymaker is riding a wave of global success fueled by blind boxes, toys featuring Labubu—a…