In a central Wuhan shopping centre, a banner for a new Pop Mart hangs where an Air Jordan store once stood. When the store famous for the wildly popular Labubu figures opens early next year, it will sit next to a Tiffany & Co boutique and across from a Prada shop on the ground floor – space traditionally reserved for high-end purveyors of apparel, jewellery and cosmetics. The mall in the capital of central China’s Hubei province is not an isolated case. Pop Mart and fellow makers of collectible...