Success of Labubu dolls part of new development stage
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The emergence of Pop Mart's Labubu collectible dolls as a worldwide craze reflects the shift from "Made in China" to "Created in China", said Chris Pereira, founder and CEO of iMpact, a global communications and business consulting company headquartered in New York.
Pereira said Labubu's success lies in its parent company creating a brand and a phenomenon that truly resonates with people.
"The key to telling China's story well is having others tell it for you," he said.