Pop Mart Brings Labubu to the Big Screen in New Film Collaboration

Collectible toy giant Pop Mart is taking its flagship character Labubu beyond retail shelves and into cinemas, partnering with Sony Pictures to develop a hybrid live-action and CGI movie. The project is currently in early stages and reflects Pop Mart’s broader ambition to transform its intellectual properties into full-scale entertainment franchises.

The film will be directed and produced by Paul King, known for titles such as Paddington and Wonka, alongside screenwriter Steven Levenson. Their involvement signals a strong creative push to bring Labubu’s whimsical universe to a global audience through cinematic storytelling.

Labubu, originally created by artist Kasing Lung, is part of “The Monsters” universe — a key pillar of Pop Mart’s business. The character gained massive popularity through the company’s signature “blind box” model, where customers purchase sealed packages without knowing which figure they will receive, adding an element of surprise and collectibility.

The character reached peak hype in mid-2025, with resale prices surging in secondary markets as demand outpaced supply. However, as Pop Mart increased production to meet demand, resale prices began to normalize. While this cooled speculative trading, the company indicated that broader accessibility could support more sustainable long-term growth.

Financially, “The Monsters” line has been a major contributor to Pop Mart’s success. In the first half of 2025, the series accounted for more than a third of the company’s total revenue, significantly outperforming other product lines such as Molly and Skull Panda. This concentration highlights both the strength and the risk of relying heavily on a single breakout franchise.

Analysts have cautioned that the Labubu phenomenon may not maintain its peak momentum indefinitely. A recent report from HSBC suggested that Pop Mart’s growth could moderate in the coming years as demand stabilizes, potentially impacting earnings forecasts.

In response, Pop Mart is actively investing in content and storytelling to extend the lifecycle of its intellectual properties. According to Chief Operating Officer Si De, the goal of the film is not simply to produce entertainment, but to deepen emotional connections between audiences and its characters.

By bringing Labubu’s world to life on screen, Pop Mart aims to create a richer narrative universe that can feed back into its core business. Story-driven content can inspire new product designs, enhance brand loyalty, and even support expansion into areas such as theme parks and immersive experiences.

The move reflects a broader trend among consumer brands shifting toward IP-driven ecosystems, where characters evolve from products into multi-platform franchises. As Pop Mart continues to build out its entertainment strategy, the success of the Labubu film could play a pivotal role in defining the company’s next phase of growth.