Sony Pictures has reportedly acquired the screen rights to the Labubu brand and plans to develop it into a full-length film — and, if it’s successful, launch an entire franchise.
It remains unclear whether the film will be animated or live-action. The project is in its early stages, and producers and a director have not yet been named. However, it’s already clear that Sony hopes to replicate the success of «The Lego Movie» and «Barbie» by adapting another popular toy brand for the big screen.
Labubu was created by Chinese artist Kasing Lung. The toys surged in popularity after retailer Pop Mart began releasing them in «blind box» format, in which buyers don’t know exactly what they’ll get. The model has built a cult following around the characters and fueled a booming secondary market, with collectors willing to pay hundreds of thousands of dollars for rare figures.
Notably, Wang Ning, CEO of Pop Mart, has ranked among the top 10 richest entrepreneurs in China. According to Forbes, his net worth has reached $22.3 billion.
