By bizn_fun 
Pop Mart is best known for selling toys in “blind boxes” – a type of packaging that conceals its contents until it is opened. The marketing method has been criticised for encouraging gambling-like behaviour and compulsive buying.
Collectors have been obsessed with Labubus – the fictional elf-like creatures with a row of jagged teeth – which have sparked long queues in shops worldwide.
Labubu has taken off, especially in the US, thanks to celebrity endorsements by including celebrities like Kim Kardashian and Lisa from K-pop group Blackpink.
Partnerships with major names such as Coca-Cola and the manga franchise One Piece have also helped to boost Labubu’s profile around the world.
Launched in 2019, Labubu dolls have helped Pop Mart become a major retailer, operating more than 2,000 vending machines and stores around the world.
The company began selling its shares on the Hong Kong Stock Exchange in 2020, with their price has risen by more than 280% since then.
Pop Mart’s shares had dipped in recent weeks over concerns raised by the likes of Wall Street investment bank JPMorgan that it was overvalued and that the firm would be unlikely to sustain the popularity of its toys.