Summary: Labubu, a plush toy created by Hong Kong artist Lung Kasing, has become a global phenomenon, driving Pop Mart International’s stock up by over 180% this year. The company’s success is attributed to its strategic approach, combining exclusive intellectual property, scarcity created by blind-box sales, and social media amplification through celebrity endorsements. Labubu’s popularity, particularly in Southeast Asia and the US, has led to a surge in demand, creating a grey market and even impacting the Chinese banking industry.

Link: https://www.businesstimes.com.sg/international/how-pop-marts-labubu-became-monster-business