Labubu craze to drive up profit 350%, Pop Mart says

Pop Mart projects a 350% increase in profits for the first half of the year driven by the Labubu doll craze, with revenues tripling. The Chinese toy firm's stock value exceeds $45bn, attributing profitability growth to global brand recognition and cost management. Labubu dolls, characterized by elf-like creatures with jagged teeth, have become a viral sensation, leading to high demand and long queues at stores globally.