Labubu, a furry doll made by the Chinese toymaker Pop Mart, has gone viral this year, with K-pop stars influencing its popularity in South Korea.
"This is as close to a nuclear bomb as the toy industry has ever faced," Steve Velte stated, emphasizing the unprecedented challenges to supply chains and pricing.
"Barbie was one of my favorite toys when I was a kid. Barbie and plush. Those were the things that I played with a lot. And so my journey, it's almost poetic. When people look at it, they think I planned it - but I didn't."
The Barbie franchise has recently seen a resurgence, maintaining its spirit of fun and connection, exemplified by a collaboration with Kodak for a special instant camera.
