Labubus is the hottest accessory right now. (Photos: Instagram/what_snkr)
Jaw-dropping exotic leather Birkins teamed up with a plushie that’s a fluffy figurine with a grin of spiky teeth – welcome to the world of Labubu toys that has become a rage. While the trend of bag charms is still going strong, Labubu toys are dangling around those pricey luxury bags of celebrities, pop stars, influencers and fashion-loving girlies.
The Monsters range was created by Hong Kong artist Kasing Lung, and the Labubu was first designed in 2015. It also included other characters such as Zimomo, Spooky, Tycoco and Pato. In 2019, Lung signed a licensing agreement with Pop Mart. But what adds to the thrill is that it is sold in a blind box – that means you receive a random product from the series. It is on the high wish list of collectors as a result, who are willing to spend much more to get their desired plushie. Since they are dropped as limited editions, you can imagine their demand, and the dopamine fix for those who are hooked on to it. On average, a Labubu retails for £25.
According to WWD, “Thai princess Sirivannavari Nariratana, a fixture at the fashion week front row, attended the Hermès Fall 2024 show in Paris in a pristine ensemble. She paired her crocodile Birkin bag with two dolls, one of them being a Labubu.” The royal endorsement has led to a rapid increase in Labubu’s popularity in Thailand, thus causing long lines outside Pop Mart’s local stores, and an influx of Daigou buying up stock in China and nearby nations like Singapore to sell in Thailand.
According to reports, Pop Mart, which manufactures Labubu, has doubled its profits in the last year and is eyeing up global expansion in 2025. It was also reported that in the first half of 2024, the Hong Kong-listed Pop Mart’s revenue outside of mainland China reached $189 million, up 259.6 percent year-over-year. It makes up nearly 30 percent of the company’s overall earnings. According to WWD, “Southeast Asia, in particular, generated $78.4 million in sales, representing more than 40 percent of the total international business.”
Monsters has also become the second most popular and fastest-growing Pop Mart proprietary product during this period.
In an interview with Hypebeast, Lung said that he read storybooks and was inspired “by ancient European elf legends.”
