Naomi Osaka of Japan shows off her grey sparkling Labubu Althea Glitterson while talking to the media after defeating Coco Gauff of the United States in the fourth round on Day 9 of the US Open at USTA Billie Jean King National Tennis Center on September 01, 2025 in New York City.

Once richer than Peter Thiel, Pop Mart’s Wang Ning sees $6 billion vanish with Labubu hype

Once celebrities start posing with a toy, Gen-Z tunes out. What was scarce and cool suddenly feels commercial and inauthentic.

September 15, 2025

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