Pop Mart International Group, the renowned toy manufacturer behind the globally popular Labubu dolls, experienced a notable decline in its share prices on November 7, 2025. The dip followed a live-streaming incident where an employee suggested that the company’s ‘blindbox’ products were overpriced. The incident, which occurred on November 6, quickly gained media attention, prompting the company to launch an internal investigation. A spokesperson for Pop Mart assured Bloomberg News that the situation is being thoroughly examined. Labubu dolls, celebrated for their unique ‘cute-creepy’ aesthetic and eerie smiles, have captivated consumers worldwide, often leading to long queues and rapid sell-outs. The ‘blindbox’ concept, where buyers are surprised by the design or color of the doll they receive, has fueled a collecting frenzy. Limited editions of Labubu can fetch prices exceeding Dh1,000, and the dolls have inspired a wide range of merchandise, from cakes to keychains. The phenomenon extends beyond purchasing, with enthusiasts engaging in unboxing videos, collecting entire sets, and even customizing their dolls. Earlier in 2025, a TikToker gained viral fame for owning a 24k gold Labubu. The Labubu series, created in 2015 by Hong Kong-born illustrator Kasing Lung, draws inspiration from Nordic folklore and has become a cultural sensation.