Labubu Dolls Take US by Storm with Rihanna and Blackpink
The Labubu phenomenon is driven by its exclusivity, social media presence, and the growing "unboxing culture," where consumers buy and collect toys without knowing what they will receive. This trend is also tied to the current "moment of infantilization," where the fashion world is leaning into childhood and girlhood, with consumers seeking to participate in a cultural moment and show off their status through the possession of certain toys.
Labubu dolls, created by designer Kasing Lung, have become a social media sensation, with celebrities like Rihanna and Lisa from Blackpink spotted with them, contributing to a 170% year-over-year increase in revenue for manufacturer Pop Mart.
The dolls, which come in blind boxes, are part of a larger universe or story, but details are scarce, adding to their exclusivity and collectible value. Sold at Pop Mart for $30, they have become a must-have item among Gen Z fashion enthusiasts, with some kids becoming obsessed with them. The toy's popularity can be attributed to its ubiquity on social media, with A-listers featuring the toy on their designer bags, creating a sense of FOMO among consumers.
The rise of Labubu is part of a larger trend of toys becoming luxury items, with everyday objects transforming into status symbols. The toy industry has a history of creating trends, but consumers also drive the demand for certain toys. The Steiff Bear, created in 1902, is an example of a toy that became a popular trend, and its popularity can be attributed to consumer demand. Other status stuffed animals, such as Jellycats and Squishmallows, are also popular, and the trend is not limited to Labubu.
As the toy industry continues to see a surge in demand for luxury toys, it remains to be seen whether Labubu will be the Beanie Babies of the 2020s or something bigger. With its current popularity and social media presence, Labubu is solidifying its place in the collectible toy market, and its impact on the industry will be interesting to watch in the coming years.