Labubu, the enchanting plush toy hailing from China's Pop Mart, has captivated the hearts of social media users, yet its journey to fame was anything but swift. Emerging a decade ago, Labubu has now seemingly cemented its status as a staple in the collectible toy market for the foreseeable future.
Created by the talented artist and illustrator Kasing Lung, Labubu first made its debut in 2015 with piercing ears and sharpened teeth in three picturesque tomes, drawing inspiration from the depths of Nordic mythology. Then, in 2019, Lung inked a deal with Pop Mart, a company that catering exclusively to toy enthusiasts and influencers, to introduce Labubu figurines to the masses.
However, it wasn't until Pop Mart unveiled Labubu plush toys adorning key rings in 2023 that these toothsome creatures seemingly burst onto the scene, becoming an omnipresent fixture in the hands of celebrities like Rihanna, Kim Kardashian, and NBA star Dillon Brooks. The popularity soared even further when K-pop sensation Lisa of Blackpink began showcasing her own Labubu collection to her over 100 million followers on Instagram and TikTok, sparking a Labubu frenzy across the platform.
TikTok is now ablaze with 1.4 million #Labubu posts and counting, featuring videos of avid fans unboxing their treasures, showcasing styles inspired by the character, and, of course, engaging in Labubu cosplay.
Enthusiasts have eagerly embraced Labubu's fusion of playfulness and fashion, transforming these whimsical creations into accessories for handbags, backpacks, belts, and even dangling charmingly from car mirrors. "Labubu has transformed into a sought-after collectible and a style emblem, resonating deeply with fans who appreciate its eccentric aesthetic and captivating backstory," exclaimed Emily Brough, Head of IP Licensing for Popmart in the Americas.
For Pop Mart, Labubu has proven to be a goldmine. In 2024, the company's revenue skyrocketed by over 100% to reach 13.04 billion yuan ($1.81 billion), partially fueled by the enchanting elfish monster. According to Pop Mart's annual report, sales of its plush toys surged an astonishing 1,200% in 2024, accounting for nearly 22% of its total revenue.
Labubu's appeal stretches beyond merely intriguing toy enthusiasts and fashion lovers; it has also capitalized on the blind box craze, where the excitement lies in the uncertainty of which variant of the plush toy one will receive. Pop Mart has ensured that Labubu is accessible to all, regardless of budget, with prices ranging widely from $20 to $300, with special collaborations and limited editions fetching even higher prices, as revealed by Brough.
Unlike conventional toys, Labubu boasts a loyal following comprising numerous adults. Market research firm Circana reports that in 2024, buyers aged 18 and above drove a year-over-year increase of over $800 million in the U.S. toy market. Predominantly female adult shoppers purchased these toys for themselves. In the first quarter of 2025, toy sales for this age group surged 12% compared to the previous year, with adults accounting for the highest quarterly spending at $1.8 billion among all age groups.
Like many retailers, Pop Mart is keenly monitoring the ongoing negotiations between the U.S. and its trading partners, as these could impact pricing. The situation with China is particularly crucial, with President Donald Trump stating on Friday that the country had "violated" an agreement with the U.S. on trade talks.
Currently, Pop Mart, whose products are manufactured across Asia, asserts that it is consistently expanding production and distribution through its online store, retail outlets, and blind box vending machines to meet the escalating demand. This shortage has led to lengthy queues outside stores and even a physical altercation at a U.K. shopping center. Consequently, Pop Mart announced on Instagram late last month the temporary suspension of all in-store and blind box machine sales in the U.K. Peter Shipman, Head of Europe, posted on Facebook that the company is developing a novel distribution method for stores.
Resellers have emerged as a nuisance, yet many Labubu aficionados remain willing to shell out exorbitant prices. Kena Flynn recently encountered Labubus being sold at a kiosk at The Grove shopping center in Los Angeles. In a TikTok post on Sunday, Flynn lamented that the prices were "outrageous," yet her boyfriend purchased two anyway. "At some point, you just can't resist," Flynn remarked in her video. "I desperately want a Labubu, but I can't buy one from Pop Mart, so here we are."
Striving to keep pace with the overwhelming demand, Pop Mart affirms that it is on course to open 50 more retail locations in the U.S. by year-end. This expansion will provide shoppers with more opportunities to hunt for Labubus, as Pop Mart plans multiple new Labubu releases tied to seasonal events and holidays throughout the remainder of the year.
