Labubu is securing the bag—in additional methods than one.
As gross sales of the toy proceed to skyrocket, Mart’s Wang Ning is cashing in on a staggering, 10-digit revenue.
Ning—who’s the founder, chairman and CEO of Pop Mart Worldwide Group, the corporate behind Labubu—has a jaw-dropping internet value estimated to be $22.1 billion, in line with Forbes. And that quantity has solely elevated within the final yr, with Ning’s internet value estimated to be $1.8 billion on the finish of 2024.
And sure, Labubu deserves quite a lot of credit score right here. Whereas the toy was launched in 2015 in artist Kasing Lung’s The Monsters e-book, the important thing ring didn’t truly hit Pop Mart cabinets till 2023.
After which got here Blackpink’s Lisa, who revealed that the nine-toothed, furry monsters had been her “secret obsession.”
“If I fly to New York, I am going to Miami, I attempt to discover Pop Mart there,” she stated a 2024 video interview with Vainness Honest, “Paris, all over the place. Form of like discovering treasure.”
