The Labubu effect: How Pop Mart is leading the blind box economy

Founded as a small toy store in China in 2010 by Wang Ning, Pop Mart has grown into one of the leaders in the blind box industry. The company now boasts more than 450 retail stores and achieved global sales of US$871 million last year. This is the story of Pop Mart, the company behind the Labubu craze, and how a single social media post from a K-pop superstar catapulted the brand into the stratosphere of the blind box economy. Surge in popularity While the growth of Pop Mart can be traced back s

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