LONDON — Andrew Wu, group president of LVMH Moët Hennessy Louis Vuitton China, has been appointed a nonexecutive director of Pop Mart, the maker of the Labubu plush and blind boxes, among other IPs.
A prominent fashion executive based in Shanghai, Wu has been overseeing the business of LVMH’s portfolio in the Chinese market for two decades.
Prior to that, he was the vice president of Asia at Sony Music Entertainment Group and worked as the general manager and managing director of Parfums Christian Dior between 1993 and 2000, overseeing the brand’s China operations almost from the very beginning of LVMH’s expansion into the market.
Pop Mart, the Chinese collectables maker that has made global headlines for the success of Labubu, said the initial term of Wu’s appointment will be three years, and every year, Wu is entitled to receive a fixed cash compensation of 1.2 million Hong Kong dollars, and a share-based compensation of 1.8 million Hong Kong dollars.
The company said Wu’s emoluments were determined by the board after considering his valuable insights and global vision as “a leading authority on consumer trends and an influential professional in the luxury industry for the region.”
Bernard Arnault with Kasing Lung
Flo Kohl/Courtesy of Moynat
Wu’s appointment comes just weeks after Bernard Arnault, chairman and chief executive officer of LVMH, stopped by a Moynat event during Art Basel Paris to see the storied Parisian luxury bag-maker’s European launch of its hyped Labubu collaboration with the creator Kasing Lung.
Many are speculating that, given the overwhelmingly positive market response to the Moynat collaboration, Lung could potentially be a contender for Louis Vuitton’s next big artist collaboration, following in the steps of Richard Prince, Jeff Koons, Yayoi Kusama and Takashi Murakami, who also attended the Moynat bag signing event in Paris.
First designed in 2015 by Lung, Labubu is part of the Monsters series, which also includes characters Zimomo, Spooky, Tycoco and Pato. Lung signed a licensing agreement with Pop Mart in 2019.
In the first half of 2025, The Monsters range raked in 4.81 billion renminbi, or $673 million, up 668 percent year-over-year, representing 34.7 percent of the total revenue of Pop Mart.
The big jump can be largely attributed to the release of the vinyl plush “Big Into Energy” series, as well as the “Wacky Mart” blind box figure toy range.
Last month, Sony Pictures acquired screen rights to Labubu and has set its sights on developing a feature film and potentially a franchise.
