How Labubu Catapulted China's Pop Mart to $1.8B in Revenue

Chinese toy company Pop Mart's stock exploded over 1,200% in the past year thanks to its success it built off blind box collectibles like Labubu. These hard-to-get toys drive the majority of Pop Mart's revenue as unboxings have flooded social media and have fans flocking overseas to buy exclusive products. But how is the retailer making itself more than just a trend?

WSJ explores how Pop Mart is harnessing the craze to create IP longevity and looks at how the company has ambitious growth plans beyond this viral moment.