How Labubu’s monster summer gave it a shot at Minions-like success

With big eyes, sharp teeth, and a furry body with rabbitlike ears, Labubu—a character in the Chinese retailer Pop Mart’s The Monsters collection, based on Nordic folklore—ruled the summer of 2025. It adorned millions of belts and bags and created an entire mini-economy of customization around it. The toy’s popularity helped Pop Mart’s 2025 revenue hit $5.1 billion, a 184% year-over-year jump. The Monsters brought in $2.1 billion globally in 2025, with North America as Pop Mart’s largest...