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This doll bubble will turn ugly

The Observer

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August 24, 2025

If you want to invest in a truly classic bubble, forget artificial intelligence firms and crypto, and instead buy shares in Pop Mart, the company responsible for the Labubu craze.

Collecting these so-called "ugly-cute" toy dolls, many of them sold in a "blind box" so that you don’t know which of the characters you are getting until you open it, has become a summer hit, popular with celebrities including Rihanna, Lady Gaga, BTS and David Beckham.

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