Pop Mart, maker of the famous Labubu doll, has named London for its new regional headquarters, and said it would open seven more UK stores, as British Prime Minister Keir Starmer secured the “ugly-cute” investment on his trip to China.
Starmer’s four-day visit aims to inject growth into Britain’s economy by strengthening ties between the countries through improved market access, lower tariffs and investment deals, such as Pop Mart’s.
The Labubu dolls, whose toothy grin and pointy ears are behind their intentionally-imperfect “ugly-cute” appeal, have become collector’s items since going viral on social media 18 months ago.
Starmer’s visit has secured export deals worth £2.2bil (RM11.9bil) as well as market access valued at £2.3bil (RM12.4bil) over five years, and hundreds of millions of pounds in investment, a statement from his office said on Friday.
Pop Mart will open in seven locations in Britain, including Birmingham, Cardiff and a new flagship store on London’s Oxford Street. It also plans 20 more stores across Europe.
The investment will create over 150 jobs in Britain, the statement said.
“London stands at the heart of the global creative ecosystem and we are thrilled to plant our European roots here,” Grant Wang, Pop Mart’s founder and chief executive, said in a statement. — Reuters
