From surprise toys to billions: The story behind the creator of Labubu

Wang Ning, the 38-year-old head of Pop Mart, has become one of China's 10 youngest billionaires, thanks to a doll named Labubu. With a fortune estimated at $22.7 billion, his success is a modern story of a simple idea becoming a phenomenon.

The secret lies in the “blind box” model, where buyers do not know which toy they will receive. This sense of surprise has created a real addiction among collectors, especially those from Generation Z. Small and cute dolls like Labubu have become not only collector's items, but also part of global urban culture.

Meanwhile, big names like Rihanna have contributed to Labubu's rise to a fashion and lifestyle symbol.

From shelves filled with toys to rows of surprise packages, Pop Mart is more than a store, it's an experience. And at the heart of this phenomenon is Wang Ning, a CEO who turned nostalgia into an empire.

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