Labubu mania is only getting bigger. Pop Mart, the company behind the wildly popular character, just announced that mini versions of its hit dolls could be released as soon as this week – and they're small enough to hang off your phone.

The news sent fans and investors buzzing. Shares of the Hong Kong listed company surged nearly 12% on Wednesday, closing at $40.75 – their highest level since Pop Mart went public in 2020.

It's not the first time the toy maker has sparked a frenzy. Previous launches have sold out within minutes, even crashing its website. CEO Wang Ning, who founded Pop Mart in 2010, says demand is only pushing the company higher. Pop Mart is on track to reach its revenue target of 20 billion yuan ($2.78 billion), and Wang added that even $4.18 billion "should be quite easy" this year.

While most sales still come from China, Pop Mart's overseas fan base is catching up fast. In the first half of the year, revenue in the Americas jumped an eye-popping 1,142% compared to last year. The company now runs about 40 stores in the U.S. and plans to open 10 more before the year is out, part of what Wang calls a "relatively rapid" expansion.

All of this momentum has translated into big gains – Pop Mart reported profits up nearly 400% in the first half of 2024. With Labubu minis on the horizon and global demand soaring, it looks like the toy craze is nowhere near slowing down.

Pop Marts stock has been on fire this year– soaring more than 200% and giving the Beijing-based toy giant a market value of over $46 billion. That's nearly eight times bigger than Mattel, the company behind Barbie, which is valued at $5.7 billion.

A big part of the Labubu craze comes from Pop Mart's signature "blind box" sales, where fans don't know which version or colour they're getting until they rip open the package. The thrill of the surprise has turned unboxing into a viral trend, with videos racking up millions of views online.

Celebrities have also helped fuel the hype. K-pop star Lisa, Rihanna, and even soccer legend David Beckham have all been spotted showing off their Labubus – dangling them from handbags, car keys, and more.

With dolls selling out in stores worldwide, the resale market has exploded too. Rare Labubus have been spotted on eBay fetching hundreds – and sometimes even thousands – of dollars.

With the mini version dropping soon, the only thing left to ask is: when will you make it yours?