Deep Dive: How Labubu Turned Pop Mart Into a Global Toy Empire

This episode of The Rundown dives into the Labubu phenomenon, exploring the origins of the plush toy created by Hong Kong-based artist Cassing Leung and how it became a global sensation through Pop Mart, a Chinese toy company. The podcast discusses Pop Mart's business model, its financial success, and the potential threats it faces, including possible government regulations in China due to the addictive nature of blind box sales, as well as comparisons to past collectible crazes like Beanie Babies and NFTs, questioning the sustainability of the Labubu hype.