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Exclusive-Labubu-maker Pop Mart learns from Disney to capitalise on toy's viral success
['Tue', 'September', 'At A.M. Gmt', 'Min Read']
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By Casey Hall and Sophie YuSHANGHAI (Reuters) -China's Pop Mart is borrowing from Disney's playbook to turn toothy monster Labubu's blockbuster sales into long-term success, Executive Director and co-COO Si De told Reuters in a rare interview.
Pop Mart has already done what many thought impossible - making Labubu the first Chinese product to win a global audience for its emotional and creative appeal rather than because it represents value-for-money.
Now it aims to capitalise on the art toy's success.
THE LABUBU PARADOXLabubu's global success has sent the Hong Kong-listed company's shares up almost 200% so far this year, and Pop Mart is now worth more than Hasbro, Mattel and Sanrio combined.
It has also fuelled investment in China's red-hot art toy industry, intensifying the competitive pressure on Pop Mart, the market leader.