In a world saturated with mass-produced merchandise and fleeting fads, a small, mischievous-looking creature named Labubu has quietly and then suddenly captured the imagination of collectors and casual consumers alike. At first glance, Labubu appears to be just another vinyl figure in the ever-expanding universe of designer toys. But a closer look reveals something different: a brand that has cleverly leveraged scarcity, storytelling, and community to spark a global movement.
What started as a niche character created by a Hong Kong-based artist has evolved into a cultural phenomenon, with long queues at pop-up shops, skyrocketing resale prices, and devoted online fan clubs. This rise isn't merely a testament to good design; it's a case study in modern brand-building, one that blends art and commerce, nostalgia and novelty, emotional connection, and calculated marketing.
Where It All Began
Labubu was born from the imagination of Kasing Lung, a Hong Kong-based illustrator known for his whimsical and often eerie characters. Originally a comic artist, Kasing Lung infused his drawings with emotional depth and childlike wonder, creating creatures that seemed to carry stories in their eyes. Labubu, one of the central figures in his universe known as The Monsters, quickly emerged as a fan favorite for his impish grin, wide eyes, and unpredictable charm.
The transition from page to product began when Lung partnered with How2Work, a Hong Kong design studio that specializes in translating artistic visions into collectible forms. Together, they brought Labubu to life as a vinyl art toy, retaining the handcrafted essence of Lung's drawings while making the character physically collectible.
Early Labubu releases were modest in number, often only available in limited runs at conventions or specific art toy fairs. These figures weren't originally meant for mass markets; they were expressions of creativity, meant for a small but passionate group of designer toy enthusiasts. However, as word spread and social media began to catch on to the unique aesthetic, demand grew rapidly.
What makes this origin story stand out is that Labubu was never created to be a commercial sensation. It was an artist's vision - raw, emotive, and personal. And that authenticity laid the foundation for what would later become a highly strategic and successful global brand.
Why Labubu Stands Out in a Crowded Toy Market
Labubu's charm lies in its ability to stir both nostalgia and novelty. With its toothy grin, pointy ears, and mischievous expression, the figure strikes a delicate balance between cute and eerie, a design choice that resonates across age groups. Each release presents a unique twist: from dreamy pastels and dark forest creatures to seasonal or pop-culture-inspired variants. These drops are often packaged as blind boxes, adding a thrill of surprise that turns buying into an experience. The occasional ultra-rare "chase" figure only deepens the collector's excitement, creating a cycle of anticipation and emotional attachment.
What truly separates Labubu from the pack is how it blends artistic storytelling with playful consumerism. Unlike Funko Pops, which leans heavily on licensed IPs, Labubu springs from an original narrative world crafted by illustrator Kasing Lung. Compared to Bearbrick's sleek, fashion-forward minimalism, Labubu's designs offer emotional texture and character depth. Each figure feels like a story fragment, not just an object, but a personality. This uniqueness allows the brand to resonate beyond fandoms and enter the realm of personal expression.
Even pricing sets Labubu apart. While many figures remain affordably collectible, limited editions can fetch upwards of $1,000 on the resale market, signaling both their demand and cultural cachet. It's not just a toy; it's an artifact of modern design culture, where art, scarcity, and storytelling combine to create lasting value. In a crowded designer toy landscape, Labubu has carved out a niche that feels intimate, expressive, and quietly irresistible.
The Hype Machine
Labubu's business strategy is a masterclass in controlled supply and amplified demand. Instead of flooding the market, the brand opts for limited releases, often via flash drops, online raffles, and exclusive retail partnerships. This artificial scarcity creates a sense of urgency that turns ordinary customers into competitive collectors.
One of the most impactful distribution decisions was the partnership with Pop Mart, a Chinese retail powerhouse known for its mystery box toy strategy. Pop Mart helped scale Labubu's reach across Asia and beyond while retaining its exclusivity. The mystery box model added another layer of gamification, where you don't just buy a toy, you enter a lottery of sorts, which heightens both anticipation and emotional investment.
Going Global
While Labubu began as a regional art toy, it has since become a global collectible icon. With a firm foothold in China, Japan, Southeast Asia, and increasingly in Europe and North America, the character now appears at major toy expos, lifestyle stores, and designer toy fairs worldwide.
The rise of social commerce has been crucial. Social media platforms have been instrumental in propelling Labubu to global fame. TikTok, Instagram, and YouTube are flooded with unboxing videos, collection showcases, and fan art. Celebrities like Rihanna and Hailey Bieber have shared their Labubu collections online, further amplifying the brand's visibility. This demonstrates the power of organic celebrity endorsements in today's digital marketing landscape.
Pop-up events and collaborations with local artists or brands have further localized Labubu's appeal while keeping it aspirational. Whether it's a glow-in-the-dark Halloween edition or a floral Spring festival variant, each drop feels regionally rooted and globally relevant.
The Kidult Economy
Labubu's success is emblematic of the burgeoning "kidult" market, a demographic of adults indulging in toys and collectibles for nostalgia, stress relief, and aesthetic pleasure. This trend has been amplified by social media platforms like TikTok and Instagram, where unboxing videos and collector showcases have gone viral.
The "kidult" phenomenon reflects a cultural shift where adults seek comfort and identity expression through playful consumerism. Labubu's quirky design and limited-edition releases tap into this desire, offering both emotional satisfaction and a sense of exclusivity. Moreover, the blind box model adds an element of surprise and collectibility that resonates with this audience.
Pop Mart has effectively capitalized on this trend, with its diverse range of IPs, including Labubu, Molly, and Skullpanda, catering to the "kidult" market's appetite for unique and expressive collectibles.
Behind the Scenes: The Creation of a Labubu Doll
Labubu, the brainchild of Hong Kong artist Kasing Lung, is part of Pop Mart's "The Monsters" series. The design process begins with Lung's whimsical illustrations, which are then transformed into 3D models by Pop Mart's design team. These models are crafted using materials like PVC and ABS plastic, chosen for their durability and ability to capture intricate details.
Production is primarily based in China, where Pop Mart oversees a meticulous manufacturing process. Each figure undergoes rigorous quality control to ensure consistency and fidelity to the original design. However, some collectors have reported quality issues, such as misaligned features or paint imperfections, highlighting the challenges of mass production at scale.
The Toy That Turned Into a Market
Labubu's rise is more than a cultural trend; it's a business breakthrough. As part of Pop Mart's "The Monsters" series, Labubu helped drive the company's revenue to $1.8 billion in 2024, with profits tripling and its valuation reaching $38 billion, surpassing Mattel and Hasbro. "The Monsters" sales jumped over 700%, generating $86 million in the first half of 2024 alone and accounting for 14% of Pop Mart's total revenue.
Global expansion has been rapid. Revenue in Southeast Asia grew 619% in 2024, while the U.S. market doubled in early 2025. Pop Mart now runs 26 U.S. stores and has over 1.7 million members.
Labubu isn't just a product; it's now a micro-economy. The secondary market has exploded, with some rare figures reselling for five to ten times their original price. Many dedicated resellers track releases, while communities on Discord and Reddit share pricing charts and trading tactics. This surge has created an investment dynamic, where some buyers don't just collect for fun, but for profit. While this has introduced some speculation into the community, it also reflects a larger shift in consumer culture, one where emotionally resonant products double as assets. From a business standpoint, this creates long-term brand value. Unlike traditional toys that depreciate with time, Labubu figures often appreciate, driven by scarcity, fandom, and timeless design.
Labubu has gone from toy to cultural icon to thriving market, blurring the line between plaything and investment.
Big Lessons from a Small Brand
Labubu's rise offers several insights for entrepreneurs, creators, and brand strategists:
Community comes before scale: Labubu didn't start by chasing mass markets. It built a loyal, emotionally invested fan base first.
Scarcity isn't a weakness; it's a strategy: By making the product slightly out of reach, Labubu increased its perceived value.
Storytelling is everything: People don't just buy toys, they buy meaning, emotion, and narrative.
Design is not just how it looks, it's how it feels: Every variant of Labubu feels thoughtfully made, which reinforces quality and collectibility.
In essence, the brand proves that you don't need a billion-dollar budget to create global demand, just a clear vision, authentic design, and the ability to build desire.
Labubu's transformation from a niche designer toy to a global phenomenon reflects broader shifts in consumer behavior, branding, and market dynamics. It exemplifies how value today is not just measured in utility or function but in emotion, narrative, and perceived scarcity. In many ways, Labubu is a product of its time, a symbol of how fandom, social media, and limited-edition culture can converge to create both meaning and monetary value.
But this convergence of culture and commerce also prompts a deeper question about long-term value. In a market shaped by hype, social media influence, and fast-moving trends, can such emotionally charged products sustain their worth over time? Will Labubu figures continue to appreciate as assets, or will their value fade as the novelty wears off and the market matures?
Now that we've explored how Labubu has captured attention and created demand, the real question is: in a world increasingly driven by emotional economics, would you see it as a meaningful investment or just a beautifully crafted moment in pop culture?