In a recent interview with the Communist Party’s official publication, the founder of Pop Mart, known for its trendy “Lovebu” toys, praised China’s culture and manufacturing strengths. He emphasized the country’s inclusive culture as well as its diverse market opportunities.
The business leader shared his thoughts as part of a series of interviews featuring prominent figures who align with Xi Jinping’s advocacy for self-improvement through patriotism. He referred to China’s manufacturing base as strong and noted that the government promotes a “world-class culture.” However, he didn’t touch upon issues of labor rights that have been widely criticized.
Support from successful companies like Pop Mart is encouraging for the Chinese Communist Party, especially given the declining foreign investments partly due to mismanagement and political tensions. The government’s scrutiny has led to reduced economic growth, particularly after the U.S. imposed tariffs targeting Chinese manufacturing and raised concerns about spying and human rights violations.
Wang described China’s market as fertile ground for creativity, contrasting it with a more restrictive environment faced by many innovators.
“Some companies resemble fast-growing grass; they thrive but lack substance. Others are like fleeting flowers. We aspire to be more tree-like,” he explained, noting how China’s extensive culture and manufacturing prowess create a nurturing soil for businesses.
“It is precisely Chinese manufacturing and culture that have shaped our identity,” he added.
Wang encouraged artists and other business leaders to explore opportunities in China, suggesting that its robust markets could help global artists cultivate their intellectual properties there, before launching them worldwide.
He discussed the unconventional approach of marketing Pop Mart products to adults, emphasizing exclusivity through higher prices, which create a sense of status.
“Over the last four decades, most Chinese producers have prioritized cost-cutting. For example, some items have seen their prices slashed to increase sales volume. But we create unique value by collaborating with top designers,” he explained, referencing how a glass cup branded with designs can sell at a premium.
Wang mentioned that Labubu, Pop Mart’s signature product, achieved a remarkable profit of $418 million in 2024, significantly linked to the buzz on social media platforms like TikTok, even as concerns about mental health related to social media use have been raised.
Pop Mart’s business model revolves around “blind box” toys, where purchasers remain unaware of the specific designs until they unwrap the product. This strategy, where certain designs are scarce, drives consumers to buy multiple boxes in hopes of finding rarer items.
The Lovebu character, designed by artist Casing Lang and inspired by Nordic mythology, is highly sought after and widely recognized as a symbol of Pop Mart’s success. Described as a “small monster with kind intentions,” Lovebu has gained traction not just in China but in markets like the U.S., especially after being embraced by celebrities like Dua Lipa and Rihanna.
K-Pop star Lisa from BlackPink has also expressed her fondness for Pop Mart, sharing in an interview how her friend in Thailand introduced her to these collectibles, which she finds irresistible.
It’s clear that while the Chinese government promotes Pop Mart through positive media coverage, the Lovebu character has unintentionally sparked debates about its implications in capitalist societies, notably after it was left at Marx’s tomb as a symbolic gesture.
The cost of Labubu toys can be around $30 when purchased directly, but due to their limited availability, fans often turn to third-party sellers where prices can soar. Rare editions have even surfaced on resale sites for hundreds of dollars.
“You can expect to find Labubu figures selling for far more than retail prices on platforms like eBay,” noted a report.
