LVMH’s Andrew Wu Joins Labubu’s Maker Pop Mart as Nonexecutive Director

LONDON — Andrew Wu, radical president of LVMH Moët Hennessy Louis Vuitton China, has been appointed a nonexecutive manager of Pop Mart, the shaper of the Labubu plush and unsighted boxes, among different IPs.

A salient manner enforcement based successful Shanghai, Wu has been overseeing the concern of LVMH’s portfolio successful the Chinese marketplace for 2 decades.

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Prior to that, helium was the vice president of Asia astatine Sony Music Entertainment Group and worked arsenic the wide manager and managing manager of Parfums Christian Dior betwixt 1993 and 2000, overseeing the brand’s China operations astir from the precise opening of LVMH’s enlargement into the market.

Pop Mart, the Chinese collectables shaper that has made planetary headlines for the occurrence of Labubu, said the archetypal word of Wu’s assignment volition beryllium 3 years, and each year, Wu is entitled to person a fixed currency compensation of 1.2 cardinal Hong Kong dollars, and a share-based compensation of 1.8 cardinal Hong Kong dollars.

The institution said Wu’s emoluments were determined by the committee aft considering his invaluable insights and planetary imaginativeness arsenic “a starring authorization connected user trends and an influential nonrecreational successful the luxury manufacture for the region.”

Wu’s assignment comes conscionable weeks aft Bernard Arnault, president and main enforcement serviceman of LVMH, stopped by a Moynat event during Art Basel Paris to spot the storied Parisian luxury bag-maker’s European motorboat of its hyped Labubu collaboration with the creator Kasing Lung.

Many are speculating that, fixed the overwhelmingly affirmative marketplace effect to the Moynat collaboration, Lung could perchance beryllium a contender for Louis Vuitton’s adjacent large creator collaboration, pursuing successful the steps of Richard Prince, Jeff Koons, Yayoi Kusama and Takashi Murakami, who besides attended the Moynat container signing lawsuit successful Paris.

First designed successful 2015 by Lung, Labubu is portion of the Monsters series, which besides includes characters Zimomo, Spooky, Tycoco and Pato. Lung signed a licensing statement with Pop Mart successful 2019.

In the archetypal fractional of 2025, The Monsters scope raked successful 4.81 cardinal renminbi, oregon $673 million, up 668 percent year-over-year, representing 34.7 percent of the full gross of Pop Mart.

The large leap tin beryllium mostly attributed to the merchandise of the vinyl plush “Big Into Energy” series, arsenic good arsenic the “Wacky Mart” unsighted container fig artifact range.

Last month, Sony Pictures acquired surface rights to Labubu and has acceptable its sights connected processing a diagnostic movie and perchance a franchise.