The Labubu effect: How Pop Mart is leading the blind box economy
Inside Retail
OCTOBER 30, 2024
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. Pop Mart’s Hacipupu character also gained significant popularity due to endorsement from K-pop star Chanyeol, though Liu was quick to clarify neither celebrity’s post was part of a planned strategy. “It
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