Wang Ning, founder of Pop Mart, the creative force behind the trendy “Labubu” plush toy, praised China’s manufacturing strength, inclusive culture, and expansive market in an interview published Monday by the Communist Party’s People’s Daily. The feature formed part of a series spotlighting business leaders aligned with President Xi Jinping’s call for “self-improvement in terms of patriotism.”
Wang described China’s manufacturing infrastructure as “excellent” and its culture as a “world-class culture” that’s gaining global influence. He credited these factors, along with a receptive domestic market, for providing fertile ground for Pop Mart’s success—even as foreign direct investment in China has declined and economic growth slowed following U.S. tariffs and elevated tensions over trade, espionage, and human rights.
Characterizing his company’s vision metaphorically, Wang compared Pop Mart to a sturdy tree deeply rooted in supportive soil. He encouraged other entrepreneurs and artists to leverage China’s manufacturing excellence and market power to incubate intellectual properties domestically and launch them internationally.
Wang noted that Pop Mart diverged from traditional Chinese manufacturers focused on low-cost efficiency. “However, the same glass cup, printed with a Labubu design, can be resold for 100 yuan,” he said. By collaborating with leading artists and China’s mature manufacturing base, Pop Mart created premium, collectible toys.
Citing company reports, Wang said the Labubu brand earned $418 million in profits in 2024. Its fame surged in Western markets after celebrities like Dua Lipa, Rihanna, and K-pop star Lisa from BlackPink were seen with the plush toys in their accessories. Lisa, speaking to Vanity Fair, admitted to a Labubu obsession, describing her global hunt for the collectibles as “like finding treasure.”
Pop Mart’s business model centers on blind-box toys, where buyers don’t know which design they will receive and chase rare figures to complete collections. The most popular Labubu retails at around $30 in the U.S., but scarcity drives resale prices far higher on secondary markets like eBay and StockX.
In a curious cultural moment, a Labubu was reportedly left at Karl Marx’s gravesite, prompting criticism from leftist observers who argued the toy had become a symbol of capitalism and consumerism—ironic, given the government’s favorable coverage.
