July 05, 2025
What are the reasons behind Labubu's popularity?
Anatomy of a Phenomenon: Deconstructing the Global Ascendancy of Labubu
Executive Summary
The global popularity of the Labubu collectible toy is not a spontaneous or singular event but the calculated outcome of a powerful confluence of four strategic pillars. First, its foundation rests on an Authentic Artistic Vision, with creator Kasing Lung providing a unique “ugly-cute” cross-cultural aesthetic and a rich narrative backstory that fosters deep emotional resonance. Second, this artistic core is amplified by a Sophisticated Commercial Flywheel engineered by distributor Pop Mart, which masterfully leverages psychological drivers through its blind box model, engineered scarcity, and a scalable IP incubation platform. Third, Labubu’s rise coincided perfectly with the maturation of the “Kidult” Consumer, an adult demographic seeking nostalgia, therapeutic play, and tangible connection in an increasingly digital and uncertain world. Finally, these foundational elements reached a Cultural Tipping Point in 2024, ignited by a cascade of high-profile celebrity endorsements and amplified by social media, which successfully transformed the niche toy into a global fashion statement and status symbol. This report deconstructs these interconnected factors to provide a comprehensive analysis of the Labubu phenomenon, its market context, and its future trajectory.
Section 1: The Genesis of an Icon - Character Design, Narrative, and Aesthetic Appeal
The enduring appeal of Labubu is fundamentally rooted in its origin as an authentic artistic creation, rather than a product conceived in a corporate boardroom. This foundation, established by artist Kasing Lung, provides the essential emotional depth, narrative richness, and unique design language that were prerequisites for the cultural phenomenon that followed. The character’s pre-existing lore and distinctive aesthetic created a fertile ground for commercial success, demonstrating that in the modern collectibles market, genuine storytelling is the bedrock upon which hype is built.
1.1 The Artist’s Vision: Kasing Lung and “The Monsters” Universe
The story of Labubu begins not with a toy, but with the cross-cultural imagination of its creator, Kasing Lung. Born in Hong Kong in 1972 and subsequently raised in the Netherlands and based in Belgium, Lung’s artistic style is a direct product of his dual heritage, seamlessly blending elements from Eastern and Western cultures.¹ This unique perspective is central to Labubu’s global resonance. In an interview, Lung noted the different aesthetic preferences between European and Asian audiences, with the latter often preferring “cute” characters, but affirmed his commitment to mixing these styles to create his own distinct vision.⁴
Labubu was not initially designed as a standalone product but emerged in 2015 as one of many characters within a broader narrative universe called “The Monsters”.³ This world was first introduced to the public through a trilogy of picture books authored by Lung, titled
The Monsters Trilogy.⁷ The lore is heavily influenced by Lung’s childhood fascination with Nordic and Celtic folklore and mythology, which he enjoyed while growing up in Europe.² This pre-existing narrative provides the characters with personalities and emotional depth that are often absent in fad toys, giving them a significant competitive edge.¹²
Within this universe, Labubu is characterized as a kind-hearted but mischievous female elf.¹³ Her official biography describes her as a character who “is kind-hearted and always wants to help, but often accidentally achieves the opposite”.⁷ This flawed, relatable anti-hero persona fosters a deeper and more authentic emotional connection with consumers, who see a reflection of universal themes like imperfect intentions and curiosity.¹²
Lung’s artistic intent was deliberate and ambitious. He revealed in an interview that his goal was to create a large, vibrant universe of monsters, drawing inspiration from television shows of his youth like The Smurfs, which featured hundreds of distinct characters.⁴ He stated there is “no such thing as a main character in The Monsters land,” with each creature having its own story.⁴ To ensure his creations were unique in a crowded market, he made a specific design choice: giving them wide smiles with many teeth.⁴ This level of artistic intentionality, rooted in personal history and a clear creative vision, differentiates The Monsters from mass-market corporate characters and forms the authentic core of Labubu’s appeal.
1.2 The “Ugly-Cute” Paradox: Deconstructing a Winning Aesthetic
Labubu’s visual identity is its most powerful and recognizable asset. The design is consistently described as a memorable and compelling balance between cute and creepy, a paradox often termed “ugly-cute” or “creepy-cute”.⁵ Its key features include a round, furry body, wide and expressive eyes, long pointed elf-like ears, and a mischievous, devilish grin that reveals nine sharp, serrated teeth.⁵ This aesthetic is not merely a stylistic quirk; it is a sophisticated visual language that drives much of the character’s appeal.
The design’s success lies in its masterful fusion of cross-cultural aesthetics. It bridges the visual language of Western folklore—evoking goblins, elves, and other mythical creatures—with the sensibilities of East Asian kawaii (cute) and meng (childlike charm), particularly through its large eyes and plush, huggable form.¹² This hybrid nature makes Labubu globally accessible. For a Western consumer, it may evoke familiar fantasy archetypes, while for an Eastern consumer, it can be seen as a novel and edgy interpretation of the mascot figure. This aesthetic flexibility allows it to be embraced in Japan as an example of
kimo-kawaii (cute-grotesque) and in China as part of the “funny-ugly” trend, demonstrating its broad and adaptable appeal.¹²
This “off-kilter” and imperfect design language strongly resonates with younger consumer cohorts, particularly Gen Z and Gen Alpha. These generations are actively rejecting the polished, flawless, and highly curated aesthetic that defined the millennial-driven Instagram era.²² In its place, they favor authenticity, individuality, and a touch of edginess. Labubu’s weirdness becomes a symbol of creative taste and a countercultural statement against conventional beauty standards.¹²
The polarizing nature of the design further reinforces its unique market position. While adored by millions, some find its appearance unsettling. The Federation Council of Russia, for instance, proposed banning the sale of Labubus due to their “frightening appearance” and perceived potential to harm children’s mental health.⁵ This controversy, alongside the widespread adoration, generates discussion and media attention, solidifying Labubu’s identity as a character that defies simple categorization and provokes a strong reaction.¹⁵ It is this hard-to-explain charm—simultaneously “ugly, but huggable”—that fuels its appeal.⁵
Section 2: The Engine of Hype - Pop Mart’s Strategic and Commercial Flywheel
While Kasing Lung’s artistic vision provided the soul of Labubu, it was the strategic and commercial engine of Pop Mart that transformed it into a global powerhouse. The Beijing-based company, founded in 2010 by Wang Ning, operates less like a traditional toy manufacturer and more as a high-velocity intellectual property (IP) commercialization platform.²⁴ By plugging Lung’s authentic creation into a sophisticated system of gamified commerce, engineered scarcity, and omni-channel distribution, Pop Mart created a self-reinforcing flywheel that systematically converts niche cultural capital into mainstream commercial success.
2.1 The Blind Box Revolution: Gamifying Commerce
At the core of Pop Mart’s commercial strategy is the “blind box” sales model.²⁴ Consumers purchase a sealed, opaque package without knowing which specific character variation from a series is inside, transforming a standard retail transaction into a gamified event filled with mystery, surprise, and anticipation.²⁶ This model has proven to be the key to the company’s success, driving the “blind box economy” in China and beyond.³⁰
The blind box is a masterclass in psychological engineering, designed to tap into powerful cognitive biases and behavioral loops. The uncertainty of the outcome triggers a potent dopamine release in the brain, not upon receiving the reward, but in anticipation of it.³² This mechanism, known as intermittent or variable-ratio reinforcement, is the same neurochemical loop that makes slot machines and video game loot boxes highly addictive.¹⁷ It encourages compulsive repeat purchases as consumers chase the “high” of the reveal and attempt to acquire specific figures. The relatively affordable entry price point of a single box, typically between $15 and $30, lowers the barrier to entry for this addictive cycle, making it an accessible “treat” or impulse buy.²⁴
This strategy effectively shifts the product’s value proposition. The consumer is not just buying an object; they are purchasing an experience—the thrill of the hunt and the ritual of the reveal.³⁷ This unboxing experience is inherently shareable, providing a near-endless source of user-generated content for social media platforms, which in turn functions as powerful, organic marketing.¹¹
2.2 The Architecture of Scarcity and Exclusivity
Pop Mart amplifies the psychological pull of the blind box with a meticulously crafted architecture of scarcity. The company strategically limits the production runs of each series and, crucially, includes hyper-rare “secret” or “hidden” figures that have extremely low pull rates, such as 1 in 72 or even 1 in 144.¹⁴ This manufactured scarcity fuels a powerful sense of FOMO (Fear of Missing Out), a key driver of viral trends, and dramatically increases the perceived value and desirability of the entire product line.¹¹
This engineered rarity is the primary driver of a booming and highly lucrative secondary market.²⁴ On platforms like StockX and eBay, rare Labubu figures are resold for many multiples of their original retail price.³⁶ Limited-edition collaborations have fetched prices exceeding $30,000, and one-of-a-kind, life-sized figures have sold for over $150,000 at prestigious auction houses.⁴³ This speculative economy creates a “halo effect,” elevating the status of the toys from simple collectibles to tangible assets and making even the common figures in a series seem more valuable.
Pop Mart sustains this hype through a relentless cadence of new releases. The constant roll-out of new series, seasonal drops, and high-profile collaborations with brands like Coca-Cola, Uniqlo, and even the contemporary art fair Art Basel ensures that Labubu remains perpetually in the cultural conversation.⁴⁶ Each new drop is an event, reigniting the cycle of hype, scarcity, and consumer demand.
2.3 An IP-Driven Curation and Incubation Ecosystem
Pop Mart’s core business model is not rooted in creating its own IP from scratch, but in identifying, licensing, and scaling promising artist-driven creations.²⁵ The company functions as an “IP incubation and operation” platform, akin to a record label for toy artists or a venture capital firm for character design.³¹ This process is data-informed. The company’s journey into the blind box market began when its leadership analyzed sales data and discovered the immense popularity of a Japanese toy, “Sonny Angel”.³¹ This led them to research similar trends and discover Molly, designed by Hong Kong artist Kenny Wong, which became their first major success.³⁰ The later partnership with Kasing Lung for Labubu followed the same model of identifying an artist with a cult following and providing a platform for mass-market scaling.³
A key strength of this model is the development of a diversified IP portfolio. In its early years, Pop Mart was heavily reliant on the Molly IP, which at one point contributed to over 80% of its revenue, posing a significant business risk.⁴⁰ To mitigate this, the company has strategically built a stable of popular characters, including Labubu, Skullpanda, Dimoo, and Crybaby.²⁵ This diversification makes the business more resilient to shifts in trends. Labubu has since become the company’s flagship IP, far surpassing Molly in popularity and revenue generation.⁵²
Underpinning this entire ecosystem is a robust approach to IP protection. Pop Mart actively secures trademarks and copyrights for its licensed characters, which is essential for maintaining brand value and integrity.²⁴ This legal framework allows the company to control merchandising, prevent infringement, and build consumer confidence, which is critical for a business model built on the perceived value of its characters.
2.4 Omni-Channel Dominance and Global Expansion
Pop Mart’s strategy is executed through a comprehensive and ubiquitous omni-channel retail network. This includes hundreds of brick-and-mortar stores, a vast network of automated “roboshops” (vending machines), and a powerful online presence through its official website, app, and third-party platforms like TikTok Shop.³⁹ This integrated approach ensures that the products are highly visible and accessible, capturing both planned purchases and impulse buys. The roboshops, in particular, are strategically placed in high-traffic areas, serving as constant, low-cost advertisements and convenient points of sale.³¹
The company’s rapid global expansion has been a primary driver of its explosive growth. Initially focused on the Chinese market, Pop Mart has aggressively expanded its physical and digital footprint internationally, with operations now spanning across Asia, North America, and Europe.⁵⁴ This global push has successfully transformed Labubu from a domestic favorite into a worldwide phenomenon, reflected in the company’s soaring revenues and stock valuation, which has made founder Wang Ning one of China’s top billionaires.⁵⁸
This business model is not merely a set of disconnected tactics but a self-reinforcing flywheel. It begins with the identification and licensing of niche, artist-driven IP. This IP is then plugged into the standardized blind box and scarcity marketing system. This system is engineered to trigger specific psychological responses in consumers—such as addiction and FOMO—which drives repeat purchases and fosters the growth of a passionate fan community. This community, in turn, becomes a powerful marketing engine, generating vast amounts of free social media content through unboxing videos and collection showcases, which drives mainstream awareness. The engineered scarcity fuels a high-value secondary market, which generates media buzz and elevates the toy’s status to that of a collectible “asset.” The massive revenue and brand awareness generated from the success of one IP provides the capital and market insight to identify, acquire, and scale the next niche IP. This is a scalable and repeatable process for systematically converting subcultural appeal into commercial success. Labubu is the most successful product of this flywheel to date, but the process itself represents Pop Mart’s core innovation. Furthermore, the high frequency of purchases across this vast retail network provides the company with invaluable, real-time data on consumer preferences and IP performance, turning the sales model into a sophisticated market research engine that informs everything from inventory management to future IP acquisitions.³¹
Section 3: The Consumer Psyche - Decoding the “Kidult” and Collector Mindset
The commercial success of Labubu was met with a powerful and receptive consumer base, whose psychological and sociological trends created the perfect conditions for the toy’s ascendancy. The phenomenon cannot be understood without analyzing the demand side of the equation: the rise of the “kidult” consumer, the specific neurological hooks of the product’s design and sales model, and the deep-seated motivations of the modern collector.
3.1 The Rise of the “Kidult”: Toys as Therapeutic Objects for Adults
The primary consumer demographic for designer toys like Labubu is not children, but “kidults”—a portmanteau of “kid” and “adult”.⁶³ This group largely consists of adults, primarily millennials and Gen Z aged 18 to 35, who purchase toys and engage with youth-oriented content for themselves.⁵⁴ This demographic is not a niche but a major driver of growth in the global toy market, responsible for hundreds of millions of dollars in sales increases.⁵⁸
A key psychological driver for the kidult trend is a powerful sense of nostalgia and a desire to escape the pressures of modern adult life.⁶³ In a world characterized by economic uncertainty, digital burnout, and constant stress, tangible objects from childhood serve as a “psychological safe haven”.⁶³ Holding and collecting toys like Labubu offers a form of therapeutic comfort and a way to reconnect with the perceived simplicity and wonder of youth.⁶³ This behavior aligns with the “lipstick effect,” a well-documented economic theory where consumers, during times of uncertainty, forgo large-scale purchases in favor of “small luxuries” or affordable treats that provide an immediate emotional boost.³⁵ Labubu, with its relatively low retail price for a single blind box, perfectly fits this pattern of “comfort buying”.³⁵
3.2 Neuromarketing in a Box: Cute Aggression and Addictive Loops
Labubu’s design and sales model are uniquely effective at triggering specific and powerful psychological responses. The character’s “ugly-cute” aesthetic is a key component of this. Research in psychology has identified a phenomenon known as “cute aggression,” a dimorphous emotional expression where an overwhelmingly positive feeling (finding something adorable) produces a contradictory, aggressive-seeming urge, such as the desire to squeeze or pinch it.⁷³ Labubu’s blend of endearing and goblin-like features is a potent trigger for this intense emotional response, making the character highly engaging and memorable.¹⁸ For younger consumers, particularly tweens, the “creepy-cute” design serves a developmental purpose, offering a way to engage with and symbolically master the confusing and contradictory emotions of adolescence.³²
This aesthetic appeal is paired with the highly effective addiction model of the blind box. As detailed previously, the mechanism of intermittent reinforcement creates a powerful, dopamine-driven feedback loop centered on anticipation.¹⁷ This gamified purchasing model can lead to compulsive or addictive buying behavior as consumers chase the thrill of the unknown and the satisfaction of finding a rare item.³³ The combination of an emotionally resonant design and a psychologically compelling sales method creates a product that is difficult for its target audience to resist.
3.3 The Modern Collector: Identity, Community, and Status
Beyond the initial purchase, Labubu’s longevity is secured by its appeal to the fundamental psychology of collecting. A collection is far more than an accumulation of objects; it serves as a tangible extension of a person’s identity, reflecting their unique tastes, values, and passions.¹⁸ The act of curating a collection is a form of self-expression. For Labubu fans, this is taken a step further through the popular practice of customizing the figures, dressing them in tiny, often handmade or bootleg designer outfits, which deepens the personal connection to the object.¹⁹
The process of collecting is also driven by the “thrill of the hunt” for rare and valuable items, which provides a profound sense of achievement and mastery.⁶⁸ Successfully acquiring a complete series or finding a coveted “secret” figure offers a concrete and satisfying accomplishment.¹⁸ This pursuit is not a solitary one. Collecting fosters a powerful sense of community and social belonging.¹⁸ Fans congregate in dedicated online forums on platforms like Reddit and Discord, as well as on mainstream social media, to share their collections, trade duplicates, offer tips, and validate one another’s passion.³⁸ This social connection is a primary motivator, transforming the hobby from a private interest into a shared cultural activity.³⁴
Ultimately, Labubu’s primary function for many consumers is not as a toy to be played with in a traditional sense, but as a “social object”—an item whose main purpose is to facilitate social interaction. The act of unboxing is often a “public performance art” for social media.³⁷ Owning a Labubu, particularly a rare one displayed as a bag charm, becomes a “social signal” that communicates one’s participation in a trend and their “cultural fluency”.³² The toy’s value is derived less from its intrinsic play value and more from its ability to generate conversation, create community connections, and signal identity. It serves as a key to unlock participation in a global cultural conversation.
| Psychological Principle | Corresponding Pop Mart Tactic / Labubu Feature |
|---|---|
| Nostalgia & Escapism | The “Kidult” appeal of a toy collectible; Character lore rooted in fantasy and fairy tales ⁶³ |
| Intermittent Reinforcement | The blind box model with random-ratio rewards, creating a gambling-like dopamine loop ³² |
| Scarcity & FOMO | Limited-edition series, timed drops, and rare “secret” figures with low pull rates ¹¹ |
| Cute Aggression | The distinctive “ugly-cute” or “creepy-cute” character design with both endearing and edgy features ⁶³ |
| Social Proof & Belonging | Cultivation of an online fan community; Encouragement of shareable “unboxing” videos ¹⁸ |
| Self-Expression & Identity | Wide variety of themed series (e.g., Macaron, Yoga, Energy); Encouragement of customization with outfits ¹⁴ |
| Achievement & Mastery | The drive to complete a full collection (“completism”) and the “thrill of the hunt” for rare items ⁶⁸ |
Section 4: The Cultural Tipping Point - From Niche Toy to Global Fashion Statement
While the foundations for Labubu’s success were laid over several years, its explosion into a mainstream global phenomenon was a rapid event that occurred primarily in 2024. This section analyzes the specific catalysts and amplification mechanisms that propelled Labubu across the chasm from a niche collectible to a viral fashion statement, demonstrating how a powerful cultural catalyst can ignite a well-prepared commercial product.
| Date | Milestone | Significance |
|---|---|---|
| 2015 | Kasing Lung creates “The Monsters” book series, introducing the character Labubu.³ | Establishes the authentic, artist-driven origin and narrative foundation. |
| 2016 | Kasing Lung and Pop Mart leadership meet at the Taipei Toy Show.⁴ | Marks the beginning of the pivotal partnership. |
| 2019 | Pop Mart begins licensing and commercially producing Labubu vinyl figurines.⁵ | Labubu enters the mass market through the blind box model, building an initial collector base. |
| Oct 2023 | The first plush keychain series, “The Monsters - Exciting Macaron,” is released.⁵ | A critical product innovation that makes Labubu portable and enables its use as a fashion accessory. |
| Apr 2024 | BLACKPINK’s Lisa posts a photo with a Labubu charm on her bag to her 100M+ followers.⁵ | The Tipping Point. This organic endorsement catapults Labubu into global mainstream consciousness. |
| 2024-2025 | A cascade of celebrity sightings (Rihanna, Dua Lipa, Kim Kardashian, David Beckham) and high-profile brand collaborations (Coca-Cola, Uniqlo, Art Basel, Sacai) follow.⁴⁶ | Solidifies Labubu’s status as a global fashion and culture icon, sustaining the viral momentum. |
| June 2025 | A unique, life-sized Labubu figure sells for a record-breaking ~$150,000 at a Beijing auction.²⁴ | Cements Labubu’s status as a legitimate, high-value art collectible, generating significant media attention. |
4.1 The “Lisa Effect”: A Case Study in Celebrity Catalysis
The viral explosion of Labubu can be traced with remarkable precision to a single event: in April 2024, Lisa Manobal of the K-pop group BLACKPINK was seen with a Labubu keychain and shared images of it on her Instagram account, which boasts over 100 million followers.⁵ This organic endorsement acted as a powerful and immediate catalyst, introducing the relatively niche toy to a massive global audience and instantly bestowing it with a powerful stamp of cultural credibility and desirability.¹³
The impact was immediate and dramatic. Almost overnight, long queues began forming outside Pop Mart stores across Asia, and the toy’s popularity surged worldwide.¹⁵ Lisa’s endorsement was followed by a cascade of other high-profile celebrity sightings. Global icons including Rihanna, Dua Lipa, Kim Kardashian, Lizzo, David Beckham, and Simone Biles were all photographed with Labubu charms, reinforcing its status as a must-have accessory and cementing it in the mainstream consciousness.⁶ This “Lisa Effect” is a textbook example of how a trusted cultural arbiter can launch a product into stratospheric fame.
However, this was not pure luck. It was the convergence of a powerful cultural catalyst with a perfectly designed product. The vinyl figures had been available since 2019 without causing such a frenzy.⁵ The critical product innovation was Pop Mart’s decision to release the plush
keychain format in late 2023.⁵ This format is inherently portable, tactile, and designed to be displayed publicly. It was this specific, accessory-like version of Labubu that Lisa featured, enabling the toy’s transformation into a “wearable” item.¹³ Pop Mart’s strategic product design laid the commercial groundwork that Lisa’s cultural influence then ignited, highlighting the importance of creating products that anticipate and enable desired user behaviors—in this case, public display and social signaling.
4.2 The Social Media Amplifier: A Self-Perpetuating Hype Loop
Celebrity endorsement provided the initial spark, but social media provided the fuel that turned it into a raging fire. The blind box format is perfectly suited for the visual and narrative-driven nature of modern social platforms. “Unboxing” videos on TikTok, Instagram, and YouTube became a central ritual of the fan community, generating millions of views and creating a self-perpetuating viral marketing loop.¹¹ In this ecosystem, consumers seamlessly transition into creators and brand evangelists, sharing their excitement, disappointment, and the thrill of the hunt with a global audience. The hashtag #Labubu has been used in well over a million posts on TikTok alone, demonstrating the massive scale of this organic amplification.¹²
Beyond unboxing, the fan community generates a vast and diverse ecosystem of content that deepens engagement and continuously fuels the hype cycle. This includes elaborate collection showcases (known as “shelfies”), styling tips for using Labubu as an accessory, tutorials for creating DIY clothing and accessories for the dolls, and memes that tap into the character’s personality.¹⁹ This constant stream of user-generated content ensures that Labubu remains a relevant and active topic of conversation, far outlasting the initial celebrity buzz.
4.3 The Toy as Fashion Accessory: Blurring Boundaries
A critical factor in Labubu’s leap into the mainstream was its successful transition from a shelf-bound collectible to a wearable fashion accessory.⁵ The plush keychain format allowed fans to clip the toy onto handbags, backpacks, and belt loops, transforming it into a public statement of taste and trend-awareness.¹⁹ This dramatically increased its visibility compared to toys that remain in the home.
This fusion of toy culture and fashion created a new form of status symbol. Clipping a Labubu, especially a rare or limited-edition one, to a luxury handbag from a brand like Louis Vuitton, Hermès, or Bottega Veneta became a powerful signal.⁴⁴ It communicated not just the financial capacity to own a luxury item, but also the cultural capital of being “in the know” about the latest pop culture craze.⁷² This blend of high fashion and playful pop art is a defining feature of the Labubu trend and a key reason for its appeal among fashion-conscious consumers.
Labubu’s cultural footprint has expanded well beyond personal style, demonstrating a remarkable level of integration into diverse cultural domains. The character has been featured at major fashion events like Paris and Milan Fashion Weeks.¹² In Singapore, it was used in a political promotion by the People’s Action Party, which introduced a Labubu as its “cutest new volunteer”.⁵ In a particularly striking example of cultural fusion, a Singaporean temple dressed four Labubu figurines as devotees during the traditional Nine Emperor Gods Festival, a move that sparked widespread social media debate but successfully attracted younger generations to the religious practice.⁵ These instances show that Labubu has transcended its status as a mere toy to become a versatile and potent cultural symbol.
Section 5: Market Context, Competition, and Economic Impact
Labubu’s popularity exists within a dynamic and complex market ecosystem. Its rise has had a significant economic impact, fueling a speculative secondary market and spawning a parallel industry of counterfeits. To fully understand its position, it is essential to analyze Labubu in comparison to both its internal competitors within the Pop Mart portfolio and its external predecessors in the broader designer toy pantheon. This context reveals the specific combination of factors that allowed Labubu to achieve its unique level of success.
5.1 The Secondary Market Gold Rush: Labubu as a Tangible Asset
The combination of engineered scarcity and intense hype has created a highly active and lucrative secondary market for Labubu collectibles. This speculative economy thrives on platforms like eBay, StockX, and the Asian marketplace Carousell, where collectors and resellers trade figures for prices far exceeding their retail value.⁴² A standard blind box that retails for approximately $15-$30 can easily be resold for double, triple, or even ten times that amount, depending on the desirability of the character.²⁴
This market has reached staggering heights, cementing Labubu’s status as a collectible art piece. Limited-edition collaborations, such as one with the Japanese fashion label Sacai and K-pop group Seventeen, saw individual dolls sell for over $31,000 at auction.⁴⁴ The pinnacle of this trend was the June 2025 auction in Beijing, where a unique, four-foot-tall, first-generation mint-green Labubu figure sold for approximately $150,000.⁴³ Such record-breaking valuations generate significant media attention and reinforce the perception of Labubu not just as a toy, but as a tangible and appreciating asset.
However, this secondary market is inherently volatile and sensitive to the manufacturer’s supply decisions. In June 2025, when Pop Mart increased the supply of the popular Labubu 3.0 series to meet overwhelming demand, resale prices on second-hand platforms plunged by as much as 40-50%.⁸⁶ This event highlights the delicate balance Pop Mart must maintain between satisfying new customers and protecting the perceived scarcity that underpins the high-value collector’s market.
5.2 The Counterfeit Conundrum: The “Lafufu” Phenomenon
The immense popularity and high resale prices of Labubu have inevitably led to a flood of counterfeit versions on the market.¹⁵ These fakes, often colloquially known as “Lafufu,” are typically of lower quality—with flimsy materials, subpar paint jobs, or incorrect details—and are sold at a fraction of the price of authentic products.¹⁹ Chinese customs authorities have seized tens of thousands of counterfeit Labubu toys, indicating the scale of the problem.²⁴
While these counterfeits pose a clear threat to Pop Mart’s revenue and intellectual property rights, they also create a paradoxical dynamic. The widespread existence of fakes serves to reinforce the authenticity and elevated status of genuine products, making the ownership of a real Labubu a more significant marker of legitimacy. Furthermore, a fascinating counter-culture has emerged within the fandom, with some collectors ironically seeking out and sharing the weirdest and most poorly made “Lafufu” fakes.¹⁹ This niche hobby aligns with the mischievous and “off-kilter” personality of the original character, demonstrating how a brand’s hype economy can generate its own opposition that, in a strange way, reinforces the core brand identity.
5.3 Comparative Analysis: Situating Labubu in the Designer Toy Pantheon
Labubu’s success is best understood when compared to other key players in the designer toy space.
Internal Competition (Pop Mart IPs): Pop Mart’s strategy of building a diverse portfolio of characters is crucial to its long-term stability. A direct comparison between its top IPs reveals why Labubu was uniquely positioned for its explosive global breakthrough.
| Feature | Labubu | Molly | Crybaby |
|---|---|---|---|
| Creator | Kasing Lung (Hong Kong/Belgium) ¹ | Kenny Wong (Hong Kong) ³¹ | Molly Yllom (Thailand) ³⁰ |
| Origin / Inspiration | Nordic & Celtic folklore; “The Monsters” book series ³ | Artist’s interpretation of a confident, pouty child ³¹ | Artist’s personal grief after losing a pet ³⁰ |
| Core Aesthetic | “Ugly-Cute” / “Creepy-Cute”; Mischievous, toothy grin, elf-like ¹² | Classic kawaii; Pouty lips, wide innocent eyes, blonde hair ⁵¹ | Softer, traditional cute; Large teardrops, pastel colors ³⁰ |
| Emotional Appeal | Mischief, adventure, playful chaos, flawed kindness ⁶ | Confidence, petulance, classic cuteness ⁸⁹ | Vulnerability, sadness, emotional expression ³⁰ |
| Key Format for Fame | Plush keychain / Bag charm ⁵ | Vinyl figurine ³¹ | Plush keychain / Bag charm ³⁰ |
| Catalyst for Fame | Established the blind box craze in China for Pop Mart ³⁰ | Global viral trend ignited by BLACKPINK’s Lisa ⁵ | Popular IP, also favored by Lisa, with strong collaborations ³⁰ |
This comparison highlights Labubu’s unique formula for success. While Molly pioneered Pop Mart’s business model, her appeal was more rooted in a classic kawaii aesthetic. Crybaby offers a strong emotional narrative but a softer, more traditional design. Labubu combines a deep, artist-driven folkloric backstory with a fashion-forward “ugly-cute” aesthetic and a product format (the plush keychain) that was perfectly suited to become a celebrity-endorsed fashion accessory. This specific combination of narrative depth, edgy design, and functional form gave it a distinct advantage in capturing the 2024 cultural zeitgeist.
External Competition (Be@rbrick): The most relevant external predecessor is Medicom Toy’s Be@rbrick. Launched in 2001, Be@rbrick pioneered many of the strategies Pop Mart later perfected, including the blind box model, limited-edition releases, and high-fashion collaborations with brands like Chanel and artists like KAWS.⁹¹ Be@rbrick established the template for the designer toy as a collectible art form. However, Be@rbrick is fundamentally a “platform” toy—a standardized, bear-shaped canvas for different surface designs.⁹² Labubu’s success represents an evolution of this model. Instead of a blank canvas, Labubu is a character-driven IP with its own inherent personality and narrative. Its popularity is also more tied to its plush, tactile, and accessory-friendly formats, which are better adapted for the visual and social dynamics of the TikTok era than the more static vinyl art of Be@rbrick.
5.4 The Collaboration Ecosystem: Expanding the Cultural Footprint
Pop Mart has strategically used collaborations to expand Labubu’s cultural footprint far beyond the toy aisle. These partnerships serve to reinforce Labubu’s status as a legitimate cultural icon and introduce it to new audiences. Key collaborations include:
Fashion and Streetwear: Partnerships with global apparel giant Uniqlo and respected fashion and streetwear labels like Sacai, Vans, and Carhartt have solidified Labubu’s fashion credentials.⁴⁴
Global Brands: A collaboration with Coca-Cola, featuring Labubu dolls holding miniature Coke bottles, demonstrated its appeal to major international corporations.⁴⁹
High Culture: The creation of a limited-edition, art-themed Labubu for the prestigious Art Basel fair explicitly positioned the toy within the world of contemporary art collecting.⁴⁷
Lifestyle and Hospitality: Brands like French patisserie Ladurée and beauty company E.l.f. Cosmetics have used Labubu in social media campaigns and promotions, integrating the character into broader lifestyle contexts.⁴⁹
These collaborations are mutually beneficial. For the partner brands, it is a low-cost, high-impact method of tapping into a viral cultural moment and signaling relevance to a younger demographic.⁴⁹ For Pop Mart, each partnership elevates Labubu’s status, validates its cultural importance, and expands its market reach.
Section 6: Strategic Analysis and Future Outlook
The meteoric rise of Labubu is a landmark case study in modern brand-building, offering critical lessons on the interplay of art, commerce, and culture. A synthesis of its success factors, combined with an analysis of potential risks, provides a clear framework for understanding its future trajectory and the strategic imperatives required to sustain its momentum.
6.1 Synthesis of Success: A Perfect Storm of Art, Commerce, and Culture
Labubu’s global ascendancy is not attributable to a single factor but is the result of a perfect storm—a powerful synergy between four distinct but interconnected pillars. Without any one of these pillars, the phenomenon would not have reached its current scale.
Authentic Artistry and Narrative: The foundation was laid by Kasing Lung’s genuine artistic vision. The character’s cross-cultural “ugly-cute” design and its origins in a rich, folkloric narrative provided the emotional depth and unique identity necessary to capture the public’s imagination.³
A Powerful Commercial Engine: Pop Mart provided the sophisticated commercial flywheel. Its mastery of the blind box model, engineered scarcity, and a scalable IP incubation platform transformed Lung’s niche creation into a commercial juggernaut, expertly leveraging consumer psychology to drive demand.²⁷
Favorable Cultural Tailwinds: The phenomenon emerged at a time when the “kidult” consumer base was maturing. This demographic of adults seeking nostalgia, therapeutic play, and tangible comfort provided a ready and receptive market for a product like Labubu.⁵⁸
A Viral Catalyst and Cultural Validation: The final pillar was the cultural tipping point, ignited by the organic endorsement from BLACKPINK’s Lisa and amplified by a cascade of celebrity sightings and social media trends. This transformed Labubu from a collectible toy into a globally recognized fashion accessory and status symbol.¹³
The convergence of these four forces—an authentic product, a powerful sales engine, a receptive audience, and a viral catalyst—created the Labubu phenomenon.
6.2 Key Risks and Challenges for Sustained Momentum
Despite its current dominance, Labubu and Pop Mart face several significant risks that could challenge the brand’s long-term momentum.
Market Saturation and Hype Cycle Volatility: The most significant threat is the inherent volatility of the collectibles market and the natural lifecycle of trends.⁶¹ The “hype machine” culture can lead to rapid shifts in consumer taste, and as competitors rush to imitate the “ugly-cute” and blind box models, the novelty may fade, leading to a potential plateau or decline in consumer excitement.⁶¹
IP Over-Reliance and Brand Dilution: Pop Mart faces the persistent risk of over-exposing its star IP. The company previously faced this challenge with its Molly character, where over-reliance became a strategic vulnerability.⁴⁰ A continuous flood of Labubu releases could lead to brand fatigue. Simultaneously, the rampant counterfeit market threatens to dilute the brand’s value and erode consumer trust if not managed effectively.²⁴
The Scarcity Dilemma: Pop Mart is caught in a difficult strategic position regarding supply. Maintaining strict scarcity is essential for fueling the high-value secondary market and satisfying hardcore collectors who value exclusivity. However, insufficient supply frustrates new fans, drives them toward the counterfeit market, and leaves potential revenue on the table.⁵⁸ As demonstrated by the 2025 incident where increased supply caused resale prices to crash, any move to adjust supply carries significant risk to the brand’s perceived value.⁸⁶
Maintaining Authenticity at Scale: As Pop Mart grows from a niche player into a global entertainment giant, it risks losing the “indie,” artist-driven authenticity that was core to Labubu’s initial appeal. Critics within the art toy community already argue that the company’s focus has shifted from artistic expression to the sheer commodification of IP and volume of sales, a perception that could alienate the very creators and early adopters who give its products cultural credibility.⁹⁸
6.3 Strategic Recommendations for Future Growth
To navigate these challenges and build sustainable, long-term brand equity, Pop Mart should consider the following strategic directions for the Labubu IP:
Deepen the Narrative Universe: The most effective defense against the fleeting nature of fashion trends is to build durable emotional investment. Pop Mart should heavily invest in expanding “The Monsters” lore beyond collectibles. This includes developing other media formats such as animated series, video games, or publishing Kasing Lung’s new illustrated books on a global scale.⁴ A rich narrative transforms characters from trendy objects into beloved cultural figures with lasting power, akin to franchises like Pokémon or Sanrio.
Implement Strategic Scarcity Management: Rather than a one-size-fits-all approach to supply, a tiered product strategy is necessary. Pop Mart should maintain extreme scarcity and high price points for its premium collector’s items (e.g., the MEGA collection, limited artist collaborations) to fuel hype and cater to the high-end market. Concurrently, it should ensure a more stable and accessible supply of its entry-level blind box series to welcome new fans and satisfy mass-market demand without crashing the entire speculative ecosystem.
Continuously Cultivate the Next Wave of IP: The company’s greatest strength is its IP incubation model. To avoid the trap of over-reliance on Labubu, Pop Mart must proactively and continuously leverage its platform to identify, nurture, and scale the next Kasing Lung. Investing in and promoting a diverse pipeline of emerging artists and unique IPs is the most effective long-term strategy for sustained growth and market leadership.
Embrace the Community as Co-Creators: The fan community’s creativity is one of the brand’s most valuable, yet underutilized, assets. Instead of viewing fan activities like customization solely as a byproduct of consumption, Pop Mart should actively engage with it. This could involve launching official customization contests, collaborating with prominent fan designers on official releases, or creating digital platforms that celebrate and showcase fan-made content and outfits. This approach transforms the community from passive consumers into active brand partners, fostering deeper loyalty and ensuring the brand’s evolution remains organic and fan-driven.
Cited works
en.wikipedia.org, https://en.wikipedia.org/wiki/Labubu#:~:text=Labubu%20(Chinese%3A%20%E6%8B%89%E5%B8%83%E5%B8%83,China%2Dbased%20retailer%20Pop%20Mart.
Kasing Lung New Now - Phillips Auction, https://www.phillips.com/detail/kasing-lung/HK010324/76
Kasing Lung, the artist behind Labubu - Bangkok Post, https://www.bangkokpost.com/thailand/people/2783937/kasing-lung-the-artist-behind-labubu
Bryan Yambao in conversation with Kasing Lung, the creative force …, https://www.theperfectmagazine.com/features/kasing/lung-kd7tf-blckg-f6lhj-s9akw-wyjtk
Labubu - Wikipedia, https://en.wikipedia.org/wiki/Labubu
Kasing Lung: The Artist Behind the Internet’s Favourite Monster, Labubu - TheArtGorgeous, https://theartgorgeous.com/kasing-lung-the-artist-behind-the-internets-favourite-monster-labubu/
THE MONSTERS | Blind Box - POP MART (United States), https://www.popmart.com/us/collection/11/the-monsters
Labubu creator Kasing Lung shares the vision behind his unique plush toys - YouTube, https://www.youtube.com/watch?v=IIxQBYkAlUM&pp=0gcJCfwAo7VqN5tD
POP MART OFFICIAL (United States), https://www.popmart.com/
en.wikipedia.org, https://en.wikipedia.org/wiki/Labubu#:~:text=Labubu%20began%20as%20a%20character,he%20enjoyed%20during%20his%20childhood.
The Marketing Madness Behind the Labubu Craze - Media Update, https://www.mediaupdate.co.za/marketing/159441/the-marketing-madness-behind-the-labubu-craze
The Labubu Phenomenon: How a Cute Monster Conquered Pop Culture - Powerdrill AI, https://powerdrill.ai/blog/labubu-phenomenon-how-a-cute-monster-conquered-pop-culture
8 Fun Facts About Labubu: The Toy That Stole Hearts Worldwide - Novelship News, https://novelship.com/news/8-fun-facts-about-labubu-the-toy-that-stole-hearts-worldwide/
The Monsters: 10 Things To Know About The Beloved Labubu, https://bagaholicboy.com/2024/08/the-monsters-10-things-to-know-labubu
Labubu: Why everyone is obsessed with this weird fuzzy doll | Today News - Mint, https://www.livemint.com/news/trends/labubu-why-everyone-is-obsessed-with-this-weird-fuzzy-monster-doll-11742678028751.html
The Monsters - pop mart australia, https://au.popmart.com/collections/the-monsters
Labubu – Rise Of A Big Cultural Phenomenon - Transformidy, https://transformidy.com/insight/labubu-rise-of-a-big-cultural-phenomenon/
What is the psychology behind Labubu? - Feltify, https://www.feltify.com/blogs/all-about-labubu/what-is-the-psychology-behind-labubu
Labubu Explainer 2025 | The Strategist - New York Magazine, https://nymag.com/strategist/article/labubu-explainer-2025.html
Labubu, Kawaii: Cuteness could be luxury’s secret weapon | Jing Daily, https://jingdaily.com/posts/labubu-mania-is-western-luxury-going-kawaii
[Opinion] Labubu and the rise of “funny-ugly” aesthetics in global youth culture, http://www.koreapost.com/news/articleView.html?idxno=45031
Why are people obsessed with Labubu? - Northeastern Global News, https://news.northeastern.edu/2025/06/26/what-are-labubus-collectible-toy-trend/
Exploring the Adorable World of Labubu! - Lemon8, https://www.lemon8-app.com/@chloeezhang/7431306808440553989?region=us
Labubu knockoffs ‘Lafufus’ toy with fans; fake it till they almost make it, https://economictimes.indiatimes.com/tech/technology/lafufus-flood-market-as-labubu-craze-catches-on/articleshow/122255833.cms
How Pop Mart’s Trademark and IP Strategy Creates Global Fan Culture - Alt Legal, https://www.altlegal.com/blog/cultural-capital-how-pop-marts-trademark-and-ip-strategy-creates-global-fan-culture/
Who Is Labubu? Pop Mart’s Fan-Favorite Toy Explained | Trink Shop CA – The Unboxaholic, https://www.theunboxaholic.com/blogs/news/trink-talk-labubu-popmart-explained
(PDF) Analysis of Blind Box Economy Based on Product Design and Marketing Strategy of “POP MART - ResearchGate, https://www.researchgate.net/publication/379908207_Analysis_of_Blind_Box_Economy_Based_on_Product_Design_and_Marketing_Strategy_of_POP_MART
Labubu Dolls: Know their Features & Reasons Behind their Popularity! - Testbook, https://testbook.com/blog/labubu-dolls-features-and-why-they-are-so-popular/
Research on the Impact of Blind Box on Consumers and Marketing Strategies - SHS Web of Conferences, https://www.shs-conferences.org/articles/shsconf/pdf/2024/27/shsconf_icdeba2024_01011.pdf
Beyond Labubu: 9 blind box series by Asian designers | Tatler Asia, https://www.tatlerasia.com/lifestyle/entertainment/get-to-know-the-most-popular-blind-box-series
Case Study: Toy Story Inside Pop Mart’s Blind Boxes-Guanghua School of Management, https://en.gsm.pku.edu.cn/info/1029/5328.htm
Yes, Labubu Dolls Are Ugly, Your Tween Will Want One Anyway | Psychology Today, https://www.psychologytoday.com/us/blog/targeted-parenting/202506/yes-labubu-dolls-are-ugly-your-tween-will-want-one-anyway
Negative Consumer Psychology Generated by Blind Boxes: How the Uncertainty Attribute of Blind Boxes Affects Compulsive Buying Te - ResearchGate, https://www.researchgate.net/publication/375551411_Negative_Consumer_Psychology_Generated_by_Blind_Boxes_How_the_Uncertainty_Attribute_of_Blind_Boxes_Affects_Compulsive_Buying_Tendencies/fulltext/654e63d43fa26f66f4ed2db7/Negative-Consumer-Psychology-Generated-by-Blind-Boxes-How-the-Uncertainty-Attribute-of-Blind-Boxes-Affects-Compulsive-Buying-Tendencies.pdf
(PDF) How Do Blind Boxes “Blind” Customers’ Minds? A Qualitative Study about Purchase Decisions of Blind Box Consumers - ResearchGate, https://www.researchgate.net/publication/364209935_How_Do_Blind_Boxes_Blind_Customers’_Minds_A_Qualitative_Study_about_Purchase_Decisions_of_Blind_Box_Consumers
Labubu and the Psychology of Viral Marketing - Cyberclick, https://www.cyberclick.net/numericalblogen/labubu-and-the-psychology-of-viral-marketing
How much does a labubu cost? - Limited Resell, https://limitedresell.com/en/blog/post/how-much-does-a-labubu-cost/
The Definitive Guide to Pop Mart: What You Need to Know - Park Magazine NY, https://parkmagazineny.com/popmart/
More than toys: The rise of Blind Boxes - Twimbit, https://twimbit.com/about/blogs/more-than-toys-the-rise-of-blind-boxes
Labubu Branding for Million Dollars - The Brand Strategy Lab, https://thebrandstrategylab.com/blog/labubu-branding-strategy-from-million-dollar-collectible/
(PDF) Research on the Business Model and Consumer Behavior of Bubble Mart, https://www.researchgate.net/publication/392535663_Research_on_the_Business_Model_and_Consumer_Behavior_of_Bubble_Mart
Labubu Plush Toys Are On The Rise - Here’s What Makes Them Special | Fingerlakes1.com, https://www.fingerlakes1.com/2025/07/03/labubu-plush-toys-are-on-the-rise-heres-what-makes-them-special/
Thieving, Reselling & Stalking: The Lengths We’re Going To For Labubus - Refinery29, https://www.refinery29.com/en-us/labubu-plushie-charm-popularity-high-spending
Someone spent $150000 on a Labubu. Yes, really. - Mashable, https://mashable.com/article/labubu-auction-150000-rare-figure
Meet the most expensive Labubu dolls ever sold – PrestigeOnline Malaysia, https://www.prestigeonline.com/my/lifestyle/culture-plus-entertainment/most-expensive-labubu-dolls-auction/
Meet Labubu, the wildly collectible doll that’s causing a worldwide frenzy - Global News, https://globalnews.ca/news/11259457/labubu-doll-craze/
Pop Mart x Uniqlo UT “The Monsters” Collection: Labubu Takes Center Stage, https://livinglifefearless.co/2025/fashion/pop-mart-x-uniqlo-ut-the-monsters-collection-labubu-takes-center-stage/
Art Basel edition Labubu doll sells out as the fair opens. - Artsy, https://www.artsy.net/article/artsy-editorial-art-basel-edition-labubu-doll-sells-fair-opens
Limited-edition Labubu causes bedlam at Art Basel Shop - The Art Newspaper, https://www.theartnewspaper.com/2025/06/16/limited-edition-labubu-causes-bedlam-at-the-art-basel-shop
Labubu: The Viral Toy Phenomenon Reviving Brands Worldwide - tovima.com, https://www.tovima.com/world/labubu-the-viral-toy-phenomenon-reviving-brands-worldwide/
Marketing Strategy Behind the Pop Mart——Based on 4C and 4P, https://www.ewadirect.com/proceedings/aemps/article/view/12494
The Best Pop Mart Original Blind Box Items and Figurines - BestProducts.com, https://www.bestproducts.com/lifestyle/g64841650/best-pop-mart-collectibles/
POPMART MOLLY OPTIMUS PRIME | Page 4 | TFW2005 - The 2005 Boards, https://www.tfw2005.com/boards/threads/popmart-molly-optimus-prime.1276134/page-4
Labubu or Crybaby Which Viral Toy Reigns Supreme Now - Vertu, https://vertu.com/lifestyle/is-labubu-still-popular-in-2025-viral-toy-comparison/
The Labubu Effect: How POP MART Is Revolutionizing Consumer Engagement and Creating Collaboration Opportunities - Sparkle Insights, https://www.sparkleinsights.com/the-labubu-effect-how-pop-mart-is-revolutionizing-consumer-engagement-and-creating-collaboration-opportunities/
Pop Mart’s Labubu craze supercharges TikTok Shop sales, https://www.modernretail.co/operations/pop-marts-labubu-craze-supercharges-tiktok-shop-sales/
Analysis of Pop Mart based on STP, 4P and PSESTEL, https://bcpublication.org/index.php/BM/article/download/3011/2968/2940
Marketing Strategy Behind the Pop MartBased on 4C and 4P - ResearchGate, https://www.researchgate.net/publication/380752272_Marketing_Strategy_Behind_the_Pop_MartBased_on_4C_and_4P
Labubu toys surge in popularity on social media | cbs8.com, https://www.cbs8.com/article/news/nation-world/labubus-pop-mart-frenzy/507-bf659610-07c8-443d-a035-ce93ec831846
Analysis of Marketing Strategies of POP MART - Advances in Engineering Innovation, https://www.ewadirect.com/proceedings/aemps/article/view/19257
Wang Ning, the creator of Pop Mart, was ranked as China’s tenth richest man, https://www.prestigeonline.com/id/people-events/people/pop-mart-founder-wang-ning-10th-richest-man-in-china-2025/
Has Labubu’s Hype Peaked Here What The Data Say And Where It Is Likely To Go Next, https://greyjournal.net/hustle/finance/has-labubus-hype-peaked-here-what-the-data-say-and-where-it-is-likely-to-go-next/
Labubu mania: How a quirky doll made Pop Mart a global giant - India Today, https://www.indiatoday.in/business/story/labubu-mania-how-a-quirky-doll-made-pop-mart-a-global-giant-ceo-wang-ning-among-china-top-10-richest-2745398-2025-06-24
How Pop Mart’s Labubu is sparking the ‘kidult’ trend in a stressed-out world | Tatler Asia, https://www.tatlerasia.com/power-purpose/impact/labubu-craze-redefining-adult-play-sparking-kidult-movement-deep-dive
Navigating the Kidult Frontier, a BrandTrends research to unveal the huge potential of kidults for the Toys and Games industry, but not only - Market Research, https://brandtrends.ai/navigating-the-kidult-frontier-a-brandtrends-research-to-unveal-the-huge-potential-of-kidults-for-the-toys-and-games-industry-but-not-only/
Exploring the Evolution and Sustainability of the Designer Toy Community in China - EUDL, https://eudl.eu/pdf/10.4108/eai.24-5-2024.2350104
Unpacking the Kidult phenomenon: Insights from a YouGov Behavioral report, https://business.yougov.com/content/50436-unpacking-the-kidult-phenomenon-insights-from-a-yougov-behavioral-report
The Rise of ‘Kidult’ Culture in China’s Consumer Market, https://www.hubofchina.com/the-rise-of-kidult-culture-in-chinas-consumer-market/
The Psychology of Collecting: Why We Love Hobby Toys | by Reed Samuel | Medium, https://medium.com/@reed.samuel/the-psychology-of-collecting-why-we-love-hobby-toys-5523d61a6fa3
The Psychology of Collecting: Exploring the Fascination with Collectible Toys | by Holland Ryan | Medium, https://medium.com/@holland.ryan/the-psychology-of-collecting-exploring-the-fascination-with-collectible-toys-50f07d6ef62f
The Kidult Trend: Why Adults are Rediscovering the Magic of Toys …, https://sago.com/en/resources/blog/the-kidult-trend-why-adults-are-rediscovering-the-magic-of-toys/
Delving Deep: The Psychology Behind Collecting - Archadia Decor, https://archadiadecors.in/blogs/action-figures/delving-deep-the-psychology-behind-collecting
The cult and community of Labubu - Mashable, https://mashable.com/article/labubu-internet-craze-community
Cute aggression: why you might want to squash every adorable thing you see - UNSW, https://www.unsw.edu.au/newsroom/news/2024/02/cute-aggression-why-you-might-want-to-squash-every-adorable-thing-you-see
Why do you want to squeeze cute things? - Joshua Paul Dale - YouTube, https://www.youtube.com/watch?v=yxsoE3jO8HM&pp=0gcJCfwAo7VqN5tD
The Labubu Phenomenon Explained: Why Everyone Loves The Creepy Cute Toy, https://www.flexdog.com/magazine/the-labubu-phenomenon-explained-why-everyone-loves-the-creepy-cute-toy
A deep dive into toy collector culture and what it means for brands - EQL Blog, https://www.eql.com/media/collector-culture-insights
Shopping: The rise of Labubu: Meet the quirky collectables taking over social media - InsightTrendsWorld, https://www.insighttrendsworld.com/post/shopping-the-rise-of-labubu-meet-the-quirky-collectables-taking-over-social-media
Labubu: Cute, Creepy, and Collectible - Sports Illustrated, https://www.si.com/collectibles/non-sports-entertainment/labubu-cute-creepy-and-collectible
Labubu Isn’t Just Gen Alpha’s Latest Obsession. What to Know About the High-Fashion Accessory Everyone Loves Right Now - People.com, https://people.com/labubu-everything-to-know-about-the-toy-turned-fashion-accessory-11749470
Fashion: Labubu’s Long Journey to Viral Fame: From Nordic Myth to Global Sensation, https://www.insighttrendsworld.com/post/fashion-labubu-s-long-journey-to-viral-fame-from-nordic-myth-to-global-sensation
Labubus Are the Most Exclusive Fashion Accessory of 2025—Here’s Where to Find One, https://www.realsimple.com/labubu-doll-11753038
Cult toy to couture: Labubu’s ascent redefines luxury | Jing Daily, https://jingdaily.com/posts/from-cult-toy-to-couture-labubu-s-ascent-is-redefining-luxury
Brands bet on Labubu to generate their next viral social media moment - Modern Retail, https://www.modernretail.co/marketing/from-e-l-f-to-pillsbury-brands-bet-on-labubu-to-generate-their-next-viral-social-media-moment/
Labubu The Monsters Toys series POPMART X Kasing Lung TIN TOY & PLUSH TOY SET, https://www.ebay.com/itm/154421163515
Labubu - eBay, https://www.ebay.com/shop/labubu?_nkw=labubu
Labubu’s biggest threat is not Wakuku, or Lafufu - Jing Daily, https://jingdaily.com/posts/labubu-biggest-threat-is-not-wakuku-or-lafufu
Pop Mart Slumps After Chinese Toymaker Boosts Labubu Supply Causing Resale Prices to Plunge - Yicai Global, https://www.yicaiglobal.com/news/pop-mart-slumps-after-chinese-toymaker-boosts-labubu-supply-causing-resale-prices-to-plunge
Lafufus Toy with Fans; Fake it Till They Almost Make it, https://retail.economictimes.indiatimes.com/news/toys-kids-and-baby/toys/labubu-vs-lafufu-the-battle-against-counterfeit-collectibles/122261535
Meet Mega Royal Molly, the New Pop Mart Doll Everyone’s Going Crazy About, https://www.prestigeonline.com/th/lifestyle/culture-plus-entertainment/mega-royal-molly-pop-mart-labubu/
From Labubu to Crybaby, these collectible bag charms are on every It girl’s wishlist - Vogue Singapore, https://vogue.sg/labubu-crybaby-bag-charms/
All About Bearbricks: The Ultimate Collectible | Sneakers, Sports …, https://www.sothebys.com/en/articles/all-about-bearbricks-the-ultimate-collectible
The crazy rise of Be@rbrick - Artoyz, https://artoyz.com/en/blogs/news/la-folle-ascension-du-berbrick
Interpretation: The Designer Toy Platform - The AOI, https://theaoi.com/2014/09/08/interpretation-the-designer-toy-platform/
Labubu x Uniqlo : the August collaboration that’s already causing a stir… - Limited Resell, https://limitedresell.com/en/blog/post/labubu-x-uniqlo-the-august-collaboration-that-s-already-causing-a-stir-/
What is a ‘Labubu’ and why has the $7000 bug-eyed Pop Mart toy fuelled so much hype, https://m.economictimes.com/news/international/global-trends/what-is-a-labubu-and-why-has-the-7000-bug-eyed-chinese-toy-fuelled-so-much-hype/articleshow/121617923.cms
Analysis of Success Factors and Developing Potential of Pop Mart - Atlantis Press, https://www.atlantis-press.com/article/125966196.pdf
Art Toy Market Size, Share & Outlook to 2033 - Global Growth Insights, https://www.globalgrowthinsights.com/market-reports/art-toy-market-113074
Why is Pop Mart controversial in the art toy community? : r/vinyltoys, https://www.reddit.com/r/vinyltoys/comments/1lg498q/why_is_pop_mart_controversial_in_the_art_toy/