"The costly and creepy plushies, made popular by Gen Z celebrities and used as bag charms by rich teens, got a much-needed boost from a sexagenarian man. Apple CEO Tim Cook visited a Labubu exhibition in China on Monday, sending the stock of Pop Mart, Labubu's manufacturer, up as much as 6% on Tuesday. Cook's appearance at the Shanghai Pop Mart event, where he was seen meeting with Pop Mart CEO Wang Ning and Labubu designer Kasing Lung, inspired rumors of a potential collaboration."
"A tie-up could come in the form of an Apple TV show, Labubu-adorned Apple products, or mobile games, Gadjo Sevilla, senior tech analyst at EMARKETER, told Business Insider. "Apple could be the right partner to sustain virality through various content and software partnerships," Sevilla said. Last month, Pop Mart's COO Si De said he wanted to emulate Disney in using the company's IP. Spokespeople for Apple and Pop Mart did not respond to a request for comment from Business Insider on future partnerships."
Tim Cook visited a Pop Mart Labubu exhibition in Shanghai and met Pop Mart CEO Wang Ning and Labubu designer Kasing Lung. The visit coincided with Pop Mart shares rising as much as 6%. Analysts suggested potential collaborations that could include an Apple TV show, Labubu-branded Apple products, or mobile games. Pop Mart's COO expressed ambitions to emulate Disney in leveraging the company's IP. Over the past year Pop Mart's share price and sales surged, with estimated toy sales reaching $1 billion this year. The Labubu resale and bootleg markets grew, though demand and prices have recently cooled.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]