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Labubu dolls by Pop Mart International Group sparked a global craze in 2025, boosting Wang Ning’s wealth past Jack Ma.
Wang Ning (Left), the co-founder of Pop Mart & Jack Ma (Right), the founder of Alibaba.
You might have heard or seen online that Chinese dolls called ‘Labubu’ – pointed ears, jagged teeth, and a mischievous grin, giving you a paradoxical feeling of cute but creepy. The craze of Labubu dolls in 2025 is phenomenal, breaking all records in terms of sales and attraction. Labubu has become a pop culture globally, creating fashion-related accessories such as keychains, bag charms, and more that are attracting celebrities as well.
Thanks to the phenomenal frenzy of Labubu dolls, the toy maker Pop Mart International Group has witnessed a record-breaking growth in 2025, propelling its chairman and CEO Wang Ning’s wealth.
Ning, as Forbes reported, is now richer than Alibaba Jack Ma. He ranks on the eight position among the top 10 richest people in China with a total wealth of $27.5 billion (Rs 24,240 crore).
According to Forbes report, Ning’s wealth mainly came from stake-sale in Pop Mart’s following the whopping rise in the market capitalization to HK$435.7 billion ($56 billion), reflecting a jump of shares over 250 per cent year-to-date.
The size of toy maker company is now three times higher than Barbie manufacturer Mattel and fellow American toy maker Hasbro combined, as per Forbes report.
What Is Labubu?
Labubu looks like a character from a fantasy story with its pointed ears, big, wide eyes and mischievous grin that shows nine pointy teeth. It is part of a group called “The Monsters”, which includes other quirky creatures like Zimomo, Mokoko and Tycoco. The doll’s design is inspired by Nordic mythology.
Labubu was created by Kasing Lung, an artist born in Hong Kong and now living in Belgium. The character first appeared in Lung’s children’s book series. In 2019, Pop Mart, a popular toy company, started making Labubu dolls as collectables. Since then, Labubu has become more popular with new versions released regularly.
Pop Mart describes Labubu as “kind-hearted and always wants to help, but often accidentally achieves the opposite.”
Labubu started as a collectable toy, but now it is a fashion accessory. One reason for its popularity is the “blind box” format, where buyers don’t know which version they will get until they open the box. This surprise element makes the quest of collecting them fun and exciting.
The big boost came from celebrities and social media. Lisa from BLACKPINK is often credited with starting the craze. In a Variety interview, Lisa said, “I can’t stop talking about Labubus. I’ve been going crazy for them for almost a year, but now I can’t really get new Labubus. They’re really hard to find. I’m kind of sad.”
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
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