Lovey dolls are on display at a Popmart store in Shanghai, China.
Video Visual China Group | Getty Images
Leading collectible toy manufacturer and IP company pop mart is teaming up with sony Photos to bring the very popular Lovebu doll to movie theaters.
The live-action/CGI hybrid film is in early development, according to a Thursday press release. The film is produced and directed by Paul King, known for 2014’s Paddington and 2023’s Wonka, and co-wrote the screenplay with screenwriter Steven Levenson.
The now iconic Labub character was created by artist Kasing Lung as part of “The Monsters” toy universe and later became one of Pop Mart’s signature “blind box” hits. This is a gift packaged in such a way that shoppers don’t know exactly what they’re buying until they complete the purchase.
Sales on the secondary market skyrocketed, and Lovebu reached its peak popularity in the summer of 2025. But the hype quickly began to wane as reseller sales lost momentum as Chinese company Popmart ramped up toy production to meet consumer demand. At the time, PopMart told CNBC that lower resale prices would benefit the company.
In the first half of 2025, the Monsters series accounted for 34.7% of PopMart’s revenue, followed by the Molly series of wide-eyed, pouting girl figurines at 9.8% and the dark, Gothic-themed character Skull Panda at 8.8%, according to data PopMart provided to CNBC.
Franchise expansion
In the February 2026 report, HSBC Analysts warned that PopMart’s profits could decline as enthusiasm for Lavvu wanes, writing: “Based on our analysis of Lavvu’s growth risks, we expect growth to normalize in 2026, resulting in an 11-13% decline in profits in 2026-27.”
Now, Popmart is looking for ways to maintain the series’ momentum, and the company says this collaboration is a big step in expanding “The Monsters” from a collectible to a big-screen story.
In an interview with CNBC’s Elaine Yu on March 1, Chief Operating Officer Shi De said movies are not a goal for PopMart.
“What we’re also looking forward to is using storytelling to help people fall deeper in love with these IPs or find points of connection. I think that’s the core of what we want to accomplish with our content,” he said.
Mr Si De said the advantages of film and animation are two-fold. “On the one hand, people can see the world (of the characters) more intuitively. On the other hand, a large amount of material is generated. Some of this material could end up in product design, and some could inspire the design of our theme parks,” he said.
