CX Daily: How Labubu Proved Pop Mart Right

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In Depth: How Labubu proved Pop Mart right

A new line of collectibles featuring Labubu, an elf doll distinguished by its big cute eyes and slightly creepy sharp-toothed smile, sold out within seconds of its online launch on June 12.

Flaunted by celebrities such as Rihanna and K-pop superstar Lisa, the toy has become a global sensation, spawning bidding wars and unruly lines outside stores. The frenzy has transformed its owner, Pop Mart International Group Ltd. — a company dismissed by many investors in its early days — into one of the world’s most valuable intellectual property (IP) firms.