Chinese toy company Pop Mart has announced that a live-action and CGI Labubu movie is in early development with Sony Pictures, multiple news outlets report.
Filmmaker Paul King, director of “Paddington” and “Wonka,” is set to direct, produce and co-write the script with screenwriter Steven Levenson.
The Labubu character was created by artist Kasing Lung as part of “The Monsters Trilogy” picture books in 2015. Mr. Lung will serve as executive producer on the film.
The announcement comes as Pop Mart expands beyond collectible toys into entertainment, theme parks and additional merchandise.
Labubu dolls sell for about $40 and are released in limited “blind box” quantities.
The dolls’ charms have adorned the handbags of celebrities such as pop stars Rihanna and Dua Lipa, becoming massively popular and drawing long queues at Pop Mart stores worldwide.
The toy’s popularity has driven Pop Mart’s shares up 64% over the past year, soaring past the combined worth of rivals Hasbro, Mattel and Sanrio, the CBC reports.
HSBC analysts cautioned that the Labubu craze could cool, forecasting a normalization of growth and cutting earnings estimates for 2026-2027 by 11%-13%, CNBC reports.
