Labubu Dolls Spark Global Frenzy with Cute Horror Charm
The doll's unique design, varying rarity levels, and the thrill of unboxing have led to over 1 million TikTok videos mentioning the toy, with fans ranging from adults to parents willing to pay hundreds or thousands of dollars to get their hands on one, sparking a resale frenzy and soaring prices.
Labubu, a collectible doll created by Hong Kong artist Kasing Lung, has taken the world by storm, with its unique design and varying rarity levels driving a global phenomenon that has generated $423 million in revenue for its manufacturer, Pop Mart, last year.
The trend is driven by anxious, value-conscious adults seeking comfort and joy in small, meaningful purchases, a phenomenon attributed to the "lipstick effect" by Shaun Rein, founder of China Market Research Group. Rein believes Pop Mart is in its early stages of growth and may follow in the footsteps of major entertainment brands, potentially even opening a theme park or amusement park. The dolls' popularity has been fueled by celebrity endorsements and consistent demand, with some editions selling out online and reselling for high prices.
The Labubu craze has also inspired food-themed events, with an Instagram account hosting Labubu meal popups around the city. However, the resale frenzy has led to the emergence of fake Labubus in the market, which can be distinguished from authentic ones by a QR tag linking to Pop Mart's site. Despite this, the demand for Labubu dolls remains high, with toy stores struggling to keep up with supply and fans willing to wait in line for hours or even travel overseas to get their hands on one.
As the Labubu phenomenon continues to grow, it provides a window into how stressed-out consumers are seeking comfort, identity, and joy in small, meaningful purchases. With Pop Mart planning to expand internationally and diversify its artists' portfolio to create more characters, the future of the Labubu doll looks bright, and its impact on the toy industry is likely to be significant.