Labubu Craze to Spur 350% Surge in Profit, China’s Pop Mart Says

Chinese toymaker Pop Mart International Group Ltd. expects the soaring global popularity of its Labubu plush toys to drive a threefold increase in first-half revenue and an even bigger boost to profit.

Labubu — a plush, pointy-eared, serrated-tooth monster — is the center of a global collectibles craze, with celebrities like Rihanna and BlackPink’s Lisa flaunting them. Last month, a human-sized toy sold for $150,000 at an auction in Beijing.