In recent years, the Chinese trendy toy brand “POP MART” has taken the world by storm, with its popular character Labubu sparking a buying frenzy, also boosting the fortune of founder Wang Ning. According to the Forbes Real-time Billionaires List, as of the morning of the 8th, the 38-year-old Wang Ning's assets have reached 20.3 billion USD (approximately 85.9 billion MYR), making him the new-generation richest man in Henan Province.
Wang Ning, born in Xinxiang, Henan, moved from Zhengzhou to Beijing to start his business in 2009 and founded POP MART the following year. The brand initially focused on trendy toy retailing, and has now successfully created multiple original IP characters like Labubu, MOLLY, and SKULLPANDA, gaining international recognition. Their blind box products have become a hot topic in the trend circle.
The key to POP MART's rise lies in the outstanding performance of Labubu from its own IP “THE MONSTERS.” In 2024, the revenue brought by Labubu reached 3.04 billion RMB (approximately 1.8 billion MYR), with an annual growth rate of as much as 726.6%. It not only became the top revenue generator for the group but also strongly drove the overall performance growth. Additionally, as “BLACKPINK” member Lisa is also a fan, it further boosted the buying enthusiasm.
Source: United Daily News
Wang Ning, born in Xinxiang, Henan, moved from Zhengzhou to Beijing to start his business in 2009 and founded POP MART the following year. The brand initially focused on trendy toy retailing, and has now successfully created multiple original IP characters like Labubu, MOLLY, and SKULLPANDA, gaining international recognition. Their blind box products have become a hot topic in the trend circle.
The key to POP MART's rise lies in the outstanding performance of Labubu from its own IP “THE MONSTERS.” In 2024, the revenue brought by Labubu reached 3.04 billion RMB (approximately 1.8 billion MYR), with an annual growth rate of as much as 726.6%. It not only became the top revenue generator for the group but also strongly drove the overall performance growth. Additionally, as “BLACKPINK” member Lisa is also a fan, it further boosted the buying enthusiasm.
Source: United Daily News