Labubu film is official with Paddington director at the helm

Labubu film is official with Paddington director at the helm3 hours agoOsmond ChiaBusiness reporterGetty ImagesLabubu dolls are coveted by collectors and celebrities around the worldThe hugely popular Labubu dolls will soon star in their own feature film, Chinese toy company Pop Mart and Sony Pictures have announced.A Labubu movie that will combine live action and computer-generated animation is in "early development", the two companies said in a statement.The film will be directed by Paul King, whose credits include Wonka, Paddington and BBC comedy series The Mighty Boosh. No release date has been set.Labubus have become a global sensation in recent years and sales have turned Pop Mart into a toy-making behemoth worth nearly $40bn (£29.9bn), surpassing established rivals like Barbie-maker Mattel.The Labubu craze has helped Pop Mart expand beyond toys to operating a theme park in Beijing. Now, the company is venturing into film.Labubus are Pop Mart's most popular toys. Part of their appeal is that they are sold in blind boxes - buyers don't know which Labubu they are getting until they open the package.Celebrities like Rihanna and Lisa from Blackpink have also been photgraphed wearing Labubu charms with their designer bags.Pop MartLabubu creator Kasing Lung and movie director Paul KingCreated over a decade ago by Hong Kong artist Kasing Lung, Labubu is a forest elf inspired by Nordic mythology and part of Lung's book series, The Monsters, which features a large number of fantasy characters.The Labubu movie was announced in Paris on Wednesday during a global exhibition tour for the Labubu toys' 10th year anniversary.Lung will serve as the film's executive producer. Aside from directing, King will also co-produce and develop the script with Steven Levenson, the writer behind the stage show Dear Evan Hansen and the musical film Tick, Tick... Boom!A 'good moment' for Pop MartPop Mart's plan to launch a Labubu media franchise is a logical next step after the toys' popularity, experts said.A Labubu movie could help Pop Mart evolve from a toy retailer to an entertainment brand, said Kim Dayoung a marketing lecturer at the National University of Singapore."For Gen Z and Millennial consumers, content and commerce are closely intertwined - watching a story, connecting with a character, and then buying into that world is a seamless journey... The potential is very high," Kim told the BBC.It could also re-assure Pop Mart investors about the value of the company."Labubu has a loyal and fanatic customer base, so a film could potentially be a significant growth opportunity for them, if the content is appealing," said Kapil Tuli from the Lee Kong Chian School of Business at the Singapore Management University."It's a good moment to make that jump."