For the past few months, a strange creature has been invading celebrity handbags, social media, and even auction rooms. More than one person is willing to do anything to own it. Its name is Labubu. It's a plush toy with big ears, pointy teeth, a mischievous look, and above all, a crazy price! Behind its quirky appearance lies a veritable global commercial tidal wave.
The birth of the beast...
When he first drew it in 2025, Hong Kong artist Kasing Loung was far from imagining that the plush toy would become such a phenomenon. It was actually part of a series of drawings called The Monsters.
But in 2019, the Chinese toy giant Pop Mart brand took over the Labubu character. It produced it as plush toys, figurines, keychains, etc. These products sold out quickly across its 400 stores worldwide.
The phenomenon was enchanted by a K-pop star
However, the real explosion took place in March 2024, K-pop star Lisa, from the group Blackpink, was photographed with a Labubu attached to her bag. A few days later, Rihanna, Dua Lipa, David Beckham, Olivia Atwood, and Paul Pogba all showed up with the plush toy.
Sales then exploded. Pop Mart generated around 360 million euros in revenue thanks to this figure. The company's stock has climbed 167% since the beginning of 2025, and 520% in the space of 12 months.
How can this commercial success be explained?
If Labubus are so successful, it's also thanks to their distribution strategy. Indeed, you buy a figurine without knowing exactly which model you'll get until you open the box. It's this element of surprise that makes the experience addictive.
But that's not all! The Labubu seems to have become a symbol of originality, due to its departure from kawaii standards. Rather strange, even disturbing, it is described as "different, imperfect, inclusive."
A trend that's setting social media and the secondary market ablaze
On TikTok, unboxing videos number in the millions. The r/labubu subreddit already has more than 79,000 members. Some are there to share, others to keep an eye on the limited editions.
Indeed, while a classic Labubu plush costs an average of 20 to 30 euros, limited editions easily reach hundreds of euros. A giant 131 cm sculpture even sold for 156,000 euros at an auction held in Beijing on June 10.
Naturally, such success also brings its share of excess. For example, the company had to suspend sales in some stores because queues were becoming unmanageable.
Furthermore, numerous cases of theft, burglaries, scams and counterfeiting have been recorded.
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