Just a Chinese doll that sparked a revolution in the toy industry, changing the global market and turning a simple young man into a billionaire! In one of the streets of Chongqing, there was a 23-year-old young man named Wang Ning. He graduated in 2009 from the advertising department of Qingzhou University and opened a small store selling accessories, phones, and some toys. It seemed like a simple project to make a living, but chance led him to discover an idea that would change his life.
Wang noticed that customers were more attracted to small toys with unique designs than to phones or accessories, especially collectible items like Yu-Gi-Oh cards and Pokémon. These toys were achieving high sales and remain very popular today. He realized that the real market wasn't in what he was selling, but in the world of innovative toys.
Wang launched his idea, changed his store’s name to POP MART, and registered it with a capital of no more than $60,000. Everything was moving slowly until the crisis came; in 2014, Wang faced a severe liquidity shortage. Many would have given up, but he decided to take the risk. He closed the lines of accessories and other products, focusing entirely on manufacturing and selling toys. But he didn’t stop there; he decided to present them in a completely different way: blind boxes.
A simple yet brilliant idea: you buy a closed box without knowing what’s inside until you open it. Sometimes you find a rare figure, and sometimes you get an ordinary character, but the excitement and curiosity will make you come back for more. This step turned the tables, and POP MART's sales began to soar.
In 2016, Wang took a smarter step: collaborating with artists and creators to design special and unique characters. Among them was artist Kenny Wong, who created the famous Molly doll. The success was astounding:
In 2017, sales reached $22 million.
In 2018, it rose to $83 million.
In 2019, POP MART products topped sales on platforms like AliExpress, surpassing Disney!
Wang was no longer just a small store owner; he became the leader of a toy empire valued at $7 billion today, and his personal wealth surpassed $27 billion in 2024, making him the youngest billionaire on the list of the top 10 richest people in China.
But the most important milestone was with a character that changed everything: Labubu.
This strange doll was inspired by Scandinavian folklore by artist Kasing Long, and produced by POP MART in limited editions. When it was first launched, the surprise happened: all pieces sold out in just 6 minutes, achieving sales of 12 million yuan. Since that day, everyone has been obsessed with collecting the various Labubu editions, especially the rare ones that have reached auction prices of $150,000 for a single piece!
Today, POP MART’s revenue has reached over $1.8 billion annually, with expectations to double in the coming years. Meanwhile, Labubu has transformed from just a doll into a global phenomenon, with American markets witnessing unprecedented crowds for any new release.
The secret behind this success is not just a beautiful toy, but a genius mix of unique design, an element of surprise, and limited editions. This strategy turned buying a doll into an enjoyable experience full of excitement and competition, making millions enter a race to collect rare pieces.
Who would believe that a small doll could unleash an economic revolution, transforming an ordinary young man into a billionaire?
Perhaps the most important question now is: Can we see a similar story in our Arab world?!
