The makers of Labubu dolls reported a near 400% increase in profits in the first half of this year after demand for the ugly-cute toys soared.
According to Sky News, the dolls' makers, Pop Mart, has released its half-year results as shares in the company have risen more than 230% since the beginning of 2025, reportedly making the Chinese company more valuable than Barbie-maker Mattel, Hello Kitty parent company Sanrio and Transformers makers Hasbro combined.
Famous celebrities, including Rihanna, David Beckham and Paris Hilton were also spotted with these labubu dolls.
The Chinese toy company's sales tripled to 13.9bn yuan (£1.4bn), while net profit soared almost 400% to 4.6bn yuan (£474m) during the first six months of the year, according to the Financial Times.
Around 40% of the sales are said to have come from outside China.
Labubu, a toothy-grinned member of "The Monsters" series of toys designed by illustrator Kasing Lung, has become a favourite of celebrities including David Beckham, Rihanna and Paris Hilton.
They have also proved difficult to get hold of for consumers after selling out at various places across the world.
Pop Mart boss Wang Ning said on Wednesday that his toy company was on track to meet its targeted revenue goal of 20bn yuan (£2.06bn) in 2025, and that "30 billion (£3.10bn) this year should also be quite easy".
The 38-year-old chief executive's net worth has skyrocketed since 2024, according to Forbes - from $1.8bn (£1.3bn) to $26.3bn (£19.5bn). He was named China's 10th richest person in June
