SEATTLE (AP) — Two men

Fans have latched on to Labubu’s mashup of play and fashion, making them accessories on handbags, backpacks and belts, or hanging them from car mirrors.“The character has evolved into a collectible and style symbol, resonating with fans who connect with its quirky aesthetic and unique backstory,” Emily Brough, Popmart’s head of IP licensing in the Americas, said.

Labubu has been a bonanza for Pop Mart. Its revenue more than doubled in 2024 to 13.04 billion yuan ($1.81 billion), thanks in part to its elvish monster. Revenue from Pop Mart’s plush toys soared more than 1,200% in 2024, nearly 22% of its overall revenue, according to the company’s annual report.Aside from their ability to pique the interest of toy aficionados and fashionistas, Labubu latched on to the blind box phenomenon, where the purchaser doesn’t know exactly which version of the plush toy they’ll get.And Pop Mart made sure there is a Labubu for everyone, regardless of income. Most are priced in a wide rage between $20 and $300, with certain collaborations or limited editions priced higher, according to Brough.

Unlike many toys, Labubu devotees include a large number of adults. Buyers ages 18 and over drove a year-over-year increase of more than $800 million in the U.S. toy market in 2024, according to market research firm Circana. Adult shoppers, mostly female, bought the toys for themselves. In 2025’s first quarter, toy sales for those ages 18 and over rose 12% from the prior-year period. At $1.8 billion, adults also accounted for the highest spending among all age groups in the quarter.Like many retailers, Pop Mart is actively monitoring

as prices may be impacted. The situation with

is at the forefront, with President Donald Trump saying on Friday that the country “violated” an agreement with the United States on trade talks.In 2023, Italian multinational Enel withdrew from the Windpeshi onshore wind energy project in La Guajira. By late 2024, EDP Renewables canceled two major projects, Alpha and Beta, two large-scale onshore wind farms in the same region. In May, Colombian state-owned oil company Ecopetrol acquired nine solar and wind energy projects from Norway’s Statkraft, marking the European firm’s exit from the country. The portfolio spans La Guajira, Sucre, Cordoba, Caldas, and Magdalena, with a combined potential capacity of 1.3 gigawatts. Only one project is currently operational, with others expected to come online between 2026 and 2027.

The move is part of Ecopetrol’s broader energy transition strategy to reduce reliance on oil and gas and meet net-zero goals by 2050. However, challenges like regulatory delays, governance concerns, and potential impacts on Colombia’s fiscal stability raise questions about the transition’s pace and economic effects.Nieves warned that the situation is “very concerning,” with only two of over 20 planned projects advancing. She stressed the need to speed up regulatory processes,

— notably the Wayuu in La Guajira — and ensure sufficient electrical infrastructure.“Colombia has more than 20 years of delay in wind energy,” Nieves said. “Brazil, in contrast, has built over 1,300 onshore wind farms in the last two decades and is a top global turbine producer.”