The Next Labubu? Pop Mart’s New ‘Healing’ Toy Ignites Market Frenzy
Pop Mart, the Chinese art toy giant, may have found its next blockbuster hit. A new character IP, “Twinkle Twinkle Little Star,” is generating a market frenzy reminiscent of the company's top-seller Labubu, signaling Pop Mart's continued ability to create sought-after collectibles and drive significant consumer spending.
The new IP's popularity reached a fever pitch on August 21, when a new series sold out within seconds of its online launch. One collection, the "Sweet Dream Weather Station" series priced at 474 yuan (US$65), saw its value triple to 1,400 yuan on resale platforms, highlighting intense speculative demand from both collectors and scalpers.
This online rush followed chaotic scenes at physical stores earlier in the month. On August 13, a restock of a blind box series at a store in Shaoxing, Zhejiang province, prompted a crush of shoppers. The inability to secure the products at retail has become a common complaint, fueling a booming and often inflated secondary market.
The success of “Twinkle Twinkle Little Star” underscores the growing market for products offering "emotional value." It also suggests a strategic evolution for Pop Mart, which appears to be betting on IPs with deeper narrative backstories to build more sustainable franchises beyond pure visual appeal—a move investors are watching closely.
Tapping into Emotional Needs
The appeal of Twinkle Twinkle Little Star is rooted in its "healing" and relatable persona—that of an "introverted, clumsy kid." The character, a star-shaped figure with a perpetually blushing face, resonates with young professionals seeking an escape from the pressures of work and adult life. Consumers describe the IP's aesthetic not as conventionally cute but as uniquely endearing, fostering a sense of personal connection.
Unlike many of Pop Mart’s other successful IPs that embody rebellious (Labubu) or melancholic (Crybaby) emotions, this new character is designed for comfort. Each blind box contains a card written as a letter from the character, framing the toy as part of an "adult fairy tale" that provides emotional validation and soothes anxiety. This focus on "healing" has allowed Pop Mart to tap into a different segment of the emotional spectrum driving the art toy market.
A Strategic Shift to Deeper Narratives
Twinkle Twinkle Little Star began as a minor character in the 2020 picture book Dream Island by illustrator Da Xin. After developing a dedicated online following through illustrated stories, the IP was signed by Pop Mart in 2024. Within six months, it became the fastest new IP in the company’s history to surpass 100 million yuan (US$13.7 million) in sales.
This rapid development is part of what appears to be a deliberate strategic pivot for Pop Mart. According to Wang Fei, director of the Center for Modern Advertising Research at Renmin University of China, the sustained success of IPs like Labubu depends on more than scarcity and social media hype. “If Pop Mart doesn't extend the content chain... relying only on the IP's visual symbols, its dividends will not be long-lasting,” Wang noted. By acquiring an IP with an existing backstory and planning further content, including an animated series, Pop Mart is actively working to build more robust, story-driven franchises to address this potential vulnerability.
Fueling the Hype, and the Frustration
Pop Mart has orchestrated a multi-pronged strategy to build momentum for the IP. Product design has evolved, with later generations featuring more diverse and customizable elements, such as different hairstyles. This sparked a viral DIY trend on social media where fans share tutorials for customizing their figures. The company also leveraged celebrity endorsements and integrated the character into its Pop Land theme park, where videos of the dancing mascot have gained widespread online traction.
However, this manufactured hype, combined with perceived stock shortages, has led to significant consumer frustration. On launch nights, social media platforms are flooded with complaints from fans who are unable to purchase the products despite multiple attempts. The difficulty of competing with scalpers and the inflated secondary market prices are testing the loyalty of the consumer base, with some collectors threatening to “quit the hobby” out of exasperation.
Measuring the New IP's Potential
While the new IP's ascent has been remarkable, Labubu remains Pop Mart's undisputed leader. According to the company's financial report for the first half of 2025, Labubu accounted for 34.7% of total revenue. By contrast, Twinkle Twinkle Little Star, which only began its commercial rollout in 2024, contributed 2.8%, making it the company’s fastest-growing new IP.
It is still too early to determine if Twinkle Twinkle Little Star can achieve the same commercial scale as Labubu. However, its immediate success demonstrates a powerful and enduring market appetite for collectibles that provide emotional comfort. In a high-pressure modern society, the business of selling "fairy tales for grown-ups" remains a lucrative one, and Pop Mart has proven once again its proficiency in capturing that demand.