Pop Mart and Sony Pictures are developing a feature film about Labubu, the fuzzy collectible dolls that became a global phenomenon. The companies announced Thursday that Paul King, director of "Paddington" and "Wonka," will produce and direct the movie, with Steven Levenson writing the screenplay. The announcement offered few details and no release date.

Labubu dolls, created by Hong Kong artist Kasing Lung, feature impish elves with snaggletoothed grins that have become must-have collectibles. Each new release sells out online within minutes, with fans including Rihanna, Dua Lipa, and Naomi Osaka. The dolls have driven Pop Mart's stock prices higher as communities form around collecting the characters.

This follows a trend of turning popular toys into major motion pictures, from "The Lego Movie" grossing nearly $500 million to Mattel's "Barbie" earning $1.5 billion. While some adaptations flop—like the 1993 "Super Mario Bros." film—successful ones can boost both toy sales and franchise value. As one intellectual property expert noted, the strategy represents "completely ruthless marketing" but can succeed if the creative execution resonates with audiences.