Pop Mart’s new mini Labubus spark buying Frenzy in China

Chinese toy sensation Pop Mart just can’t keep their adorable Labubu dolls in stock. The latest batch of these rabbit-eared collectibles vanished from online stores in mere minutes after dropping Thursday night on WeChat and Tmall, according to The Business Times.

Fans scrambled to snag the 4-inch figures, which retail for 79 yuan (about $12). Those who missed out online will have another shot when physical stores stock up tomorrow. Die-hard collectors also rushed to grab the premium version at 499 yuan ($69,75), along with various Labubu accessories.

This surge in demand is unsurprising, as Pop Mart recently posted profits that far exceeded expectations. The company’s stock price has skyrocketed over 200% this year, turning founder Wang Ning into one of China’s youngest billionaires.

The brand’s success at home has paved the way for global expansion, with plans to launch in the US, Thailand and Australia, although international fans should expect to pay a bit more for their Labubu toys. Pop Mart’s winning formula combines their mysterious «blind box» concept with smart celebrity partnerships, helping turn these quirky collectibles into a worldwide phenomenon and establishing the company as the undisputed king of designer toys.