This week, we dive into the Labubu craze! Whether you find them cute, ugly, or just plain weird, you’ve probably heard of Labubu -  the plush toys that have taken the world by storm. Originally conceived as monster elves, these fluffy, sharp-toothed plush toys have evolved into a global cultural and commercial sensation, fueled by their scarcity and the “blind box” retail strategy from Pop Mart, the Beijing-based company behind the phenomenon.

But Labubu is just the tip of the iceberg! Chinese homegrown brands are thriving, becoming global tastemakers and redefining what it means to be cool. How did we get here? Why is there such an obsession with these quirky collectibles? To find out,  CM Chan and Chloe Feng chats with Ashley Dudarenok, founder of the China-focused research firm ChoZan,