Lower thirds:

00:05 Report by / Emily Siu
01:59 Mohammed Almayali / Entrepreneur
02:06 Bella Fuscala / Tourist
02:36 Ashley Dudarenok / China Marketing Expert
02:56 Miss Jiang

Script:

VISION: MONTAGE POP LAND THEME PARK, FANS AND INTERACTION

This is Pop Land - a place where Popmart toys come to life. 

UNNAMED VOXPOP (MANDARIN - DUB) 

I come here all the time to interact with all the characters. I love all of them.

The 40,000‑square‑meter theme park has re-opened after a year of renovations.

VISION: “HIT” RESTAURANTS, MILD THRILLS, SHOPS 

Located in the heart of Beijing, it features game booths, mild thrills and shops selling limited edition merchandise. 

VISION: LABUBU SHOW  

The big draw:

UPS “LABUBU!”

…the “ugly cute” elf-like creature that turned Popmart from a small startup into a global toy empire…

…winning fans over with its secret blind box formula for selling the character.

Labubu’s popularity drove Popmart’s stock price to record highs last summer.

The company’s revenue almost tripled to nearly 5-and-a-half billion dollars last year.

Popmart’s ridden the frenzy to diversify its business model…

HIT: EYE

…and is eyeing the kind of expansion that could see it compete with the likes of Disney.

VISION: UNDER CONSTRUCTION THEME PARK SECTIONS 

Pop Land renovations are ongoing.

And plans are in the pipeline to open additional parks.

There’s also a “Pop Bakery” dessert brand in the works.

Meanwhile the company is partnering with Sony to bring Labubu to the big screen…

though there’s no release date just yet for a movie.

But the toymaker’s race into new categories is also fuelling fears the Popmart bubble could soon…pop.

VISION: POPMART SHOP - LOGO

The company’s stock price plunged by 30% in late March after Popmart revealed Labubu accounts for nearly half of its revenue.

Sales in the US - its biggest market outside China - fell by more than 40% in March and April.

VISION: POPMART SHOP - CUSTOMERS SHAKE BOX

Analysts say a Labubu fad could be fading.

Popmart may need to rely on its other characters to find new fans.

01:58
MOHAMMED ALMAYALI, ENTREPRENEUR 
"I didn’t buy a Labubu because it was a big trend back then, but it died down now."

02:05
BELLA FUSCALA, TOURIST  
"I moved to Skull Panda, it’s not Labubu anymore but it’s kind of the same but different and kind of weird."

Characters like Skullpanda, Dimoo and Molly are drawing crowds in China.

But they haven’t won over western consumers in the same way as Labubu.

VISION: ASHLEY BROLL SEQUENCE

Digital marketing expert Ashley Dudarenok has followed the Popmart phenomenon for the past few years.

02:33
ASHLEY DUDARENOK, MARKETING EXPERT 
"In order to become an international company, not just a Chinese company / they need to start thinking differently. They need to hire a different team. They need to take the globe into account. They need to start / making not just stories more appealing, but also / themselves as a company more appealing."

VISION: POP LAND LABUBU PHOTOS

Fo now, the fever shows no sign of cooling… at least here inside Pop Land.

MISS JIANG (Mandarin - DUB)
"I won’t fall in love with other characters, I will only love Labubu."

VISION: Miss Jiang carry big Labubu doll

But turning one viral character into a lasting global entertainment brand… 

may prove more challenging.