How China’s Labubu became Pop Mart’s $1.8 billion plush powerhouse

Labubu, a plush toy from China's Pop Mart, gains popularity on social media. Artist Kasing Lung created Labubu, inspired by Nordic mythology. Pop Mart sold Labubu figurines and key rings. Celebrities like Rihanna and Lisa from Blackpink showcase Labubu. Pop Mart's revenue doubled in 2024. Adult buyers drive toy market growth. Pop Mart monitors US trade negotiations and expands production.