An ugly-cute monster has become a global sensation. PopMart, the company behind Labubus, has leveraged blind-box packaging, scarcity and artist collaborations to turn these collectible plushies into a booming business. WSJ's Kaitlyn Wang explains the rise of the Labubu and a "Labubu influencer" describes the appeal. Michelle Hackman hosts. Further Listening: - How the Stanley Cup Became the Internet’s Favorite Water Bottle - Mattel Bets Big on Barbie - Is Supreme Still the King of Streetwear? Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices