Labubu toy craze sweeps the U.S. as Pop Mart expands presence

Labubu, a popular furry toy character, is causing a shopping frenzy in the U.S. as Pop Mart expands its presence. Lines form overnight outside stores, with fans eager to buy the latest releases, which often sell out within minutes. The toy's popularity surged after K-pop star Lisa shared a video with Labubu, leading to increased demand. Pop Mart has opened 16 U.S. locations since September 2023, with sales in North America reaching $24.9 million in the first half of 2024. Pop Mart is adapting to the craze, implementing crowd control measures and managing limited stock due to supply chain timelines. The company reported a 62% revenue increase compared to last year, driven by the success of plush toys like Labubu.