Wang Ning's Wealth Plummets as Labubu Demand Declines
Wang Ning, founder of Pop Mart, has seen his net worth drop by nearly $6 billion in less than a month due to a significant decline in demand for the Labubu toy series. Once a trendy item among Gen-Z, the toy's appeal has waned following its commercialization by celebrities, leading to a sharp decrease in its market value.
Wang Ning's Wealth Plummets as Labubu Demand Declines
Wang Ning, founder of Pop Mart, has seen his net worth drop by nearly $6 billion in less than a month due to a significant decline in demand for the Labubu toy series. Once a trendy item among Gen-Z, the toy's appeal has waned following its commercialization by celebrities, leading to a sharp decrease in its market value.
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