Labubu, the plush toy from China's Pop Mart. — Pop Mart/AP
Pop Mart has struck it rich. The Chinese company that caters to toy connoisseurs and influencers said this week that it expects profit for the first six months of this year to jump by at least 350% compared with the prior-year period, largely because of its smash hit plush toy, the Labubu.
Pop Mart joins a small list of companies that have tapped into the zeitgeist, drawing in millions of buyers who, for one reason or another, simply must get their hands on a toy or gadget of the moment.
