The safest bet in an uncertain economy? A creepy doll. It doesn’t even have to be possessed. Labubu dolls, Nordic fairytale-inspired plushies that grin mischievously, are the hottest fashion accessory and collectible right now.
What is a Labubu? The dolls were created in 2015 by Hong Kong-based artist Kasing Lung, who started manufacturing them exclusively with Chinese toy retailer Pop Mart in 2019. The toy’s popularity skyrocketed last year when K-pop star Lisa from Blackpink was seen carrying them:
Celebrities like Rihanna and Dua Lipa have been spotted with Labubus. The dolls were even seen clipped to luxury bags at Paris Fashion Week this year.One big draw for collectors is that Labubus are sold in “blind boxes” so fans don’t know which creature they’ve gotten until they pop it open.
Despite a tariff-induced price increase from $22 to $28 for US customers, the newest Labubu collection managed to sell out online in minutes last month.
There’s big money in little dolls: Pop Mart reported $1.8 billion in revenue last year, an over 100% increase in revenue from 2023. About $400 million of that came directly from sales of Labubu dolls and their Monster tribe family. Labubus are also popular among resellers, and they have even inspired a secondary market of designer outfits and bags for the dolls.—MM
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