Labubu dolls first appeared on the market in 2019, but by 2025, they were experiencing a viral surge.
A fluffy ball with a monster face, you might wonder, what is the aesthetic appeal? The dolls are the creation of Hong Kong-born, Netherlands-raised artist Kasing Lung, who drew inspiration from Nordic mythology when he designed his "Monsters" characters for a series of picture books in 2015, of which Labubu is one.
The toys, produced and distributed by Chinese company Pop Mart, are available in both miniature and plush versions, often sold through "blind box" packaging where buyers do not know which design they will receive.
Some models are released in limited quantities, a strategy that has driven high resale values, with certain editions fetching over €800 online.
For example, Pop Mart has reported unprecedented demand in Australia, with customers queuing as early as 3 am to secure new stock. The company's spokesperson described the phenomenon to News.com.au as part of a broader "collectable, pop-culture movement" rather than a conventional toy market.
While collectable toy trends are not new, the Cabbage Patch Kid stampedes of 1983, the Tamagotchi craze of the mid-90s, and the Beanie Baby bubble that burst by the early 2000s are examples.
Labubu stands out for its predominantly adult fan base. The dolls have been photographed with celebrities like Rihanna and Lisa from the K-pop group Blackpink, positioning them as both fashion accessories and toys.
Men's fashion magazines have also featured them amid the growing market for luxury handbags.
The culture behind the craze
Analysts note that the dolls’ success reflects broader cultural trends, including nostalgia marketing, as some adult collectors seek items that evoke their childhood memories.
The allure of scarcity in consumer goods, such as limited editions and "blind box" purchases, mimics the dynamics of art collecting and encourages repeat buying. By appearing in both fashion and toy retail spaces, Labubu has expanded its potential customer base and, of course, gained digital amplification through social media platforms.
For collectors, the appeal lies not only in the object itself but also in the thrill of the chase, the opportunity to acquire a rare item that they may appreciate and the brand is expected to remain a significant presence in the luxury collectable market.
