BEIJING, Aug. 26 -- Labubu plush toys from China's Pop Mart International Group Ltd. have ignited a global collecting frenzy, driving billion-dollar sales, record resale prices and soaring fortunes for its young founder.

The toothy dolls, packaged in mystery blind boxes, are fetching far above retail, with an ultra-rare edition once sold for US$150,000 (RM632,000) at a Beijing auction, Bloomberg reported.

Collectors from the United States to China are buying and reselling the toys as investments, while an ecosystem of doll clothing, meme coins and even rental services has developed.

The craze has helped propel Pop Mart's market value to around US$55 billion, according to Bloomberg, with CEO Wang Ning's net worth surging 243 per cent th...