The film will combine live action and computer-generated animation and is in "early development".
9 hours ago
Osmond ChiaBusiness reporter
Getty Images
The hugely popular Labubu dolls will soon star in their own feature film, Chinese toy company Pop Mart and Sony Pictures have announced.
A Labubu movie that will combine live action and computer-generated animation is in "early development", the two companies said in a statement.
The film will be directed by Paul King, whose credits include Wonka, Paddington and BBC comedy series The Mighty Boosh. No release date has been set.
Labubus have become a global sensation in recent years and sales have turned Pop Mart into a toy-making behemoth worth nearly $40bn (£29.9bn), surpassing established rivals like Barbie-maker Mattel.
The Labubu craze has helped Pop Mart expand beyond toys to operating a theme park in Beijing. Now, the company is venturing into film.
Labubus are Pop Mart's most popular toys. Part of their appeal is that they are sold in blind boxes - buyers don't know which Labubu they are getting until they open the package.
Celebrities like Rihanna and Lisa from Blackpink have also been photgraphed wearing Labubu charms with their designer bags.
Pop Mart
Created over a decade ago by Hong Kong artist Kasing Lung, Labubu is a forest elf inspired by Nordic mythology and part of Lung's book series, The Monsters, which features a large number of fantasy characters.
The Labubu movie was announced in Paris on Wednesday during a global exhibition tour for the Labubu toys' 10th year anniversary.
Lung will serve as the film's executive producer. Aside from directing, King will also co-produce and develop the script with Steven Levenson, the writer behind the stage show Dear Evan Hansen and the musical film Tick, Tick... Boom!
Pop Mart's plan to launch a Labubu media franchise is a logical next step after the toys' popularity, experts said.
A Labubu movie could help Pop Mart evolve from a toy retailer to an entertainment brand, said Kim Dayoung a marketing lecturer at the National University of Singapore.
"For Gen Z and Millennial consumers, content and commerce are closely intertwined - watching a story, connecting with a character, and then buying into that world is a seamless journey... The potential is very high," Kim told the BBC.
It could also re-assure Pop Mart investors about the value of the company.
"Labubu has a loyal and fanatic customer base, so a film could potentially be a significant growth opportunity for them, if the content is appealing," said Kapil Tuli from the Lee Kong Chian School of Business at the Singapore Management University.
"It's a good moment to make that jump."
Manufacturers stopped operations after supplies of propane and natural gas reduced sharply in recent days.
As the war in Iran rages and the consequences of the shock to commodity markets become clearer, the vulnerability of Asia’s economies tops the list of concerns in the research reports of investment banks. The region’s reliance on energy imports from the Gulf has come under scrutiny. The facts speak
China’s urban youth unemployment rate fell in February for the sixth consecutive month, though the marginal improvement provides little reprieve for jobseekers in a challenging post-holiday labour market. The jobless rate for the 16-to-24 age group, excluding students, edged down to 16.1 per cent in
Chinese authorities have renewed their push for stricter oversight of the electric vehicle (EV) market, urging carmakers to move away from aggressive discounting and focus instead on technological innovation. The directive comes as domestic manufacturers struggle with cooling demand and the phasing