Labubu’s Global Toy Craze Becomes a Billion-Dollar Empire

Published Time: 08-16-2025, 14:45

A once-niche creation by artist Kasing Lung has transformed into one of the world’s most successful toy brands. Labubu, now central to Pop Mart’s billion-dollar empire, has become a cultural force—blending emotional connection, celebrity appeal, and collectible frenzy to reach audiences across continents.

The Birth of a Global Icon

Labubu was created over a decade ago by Hong Kong-born, Belgium-based artist Kasing Lung, but it wasn’t until years later that the character gained mainstream recognition. Its breakthrough came through a partnership with Beijing-based Pop Mart, a toy company best known for its blind box collectibles.

The collaboration tapped into social media-driven trends, with the hashtag #Labubu now appearing in more than two million TikTok videos. Celebrity fans, including Rihanna, Kim Kardashian, and David Beckham, further propelled its rise to global fame.

The Business Behind the Monster

Global investment firms have taken notice of Labubu’s unprecedented success. JPMorgan even dubbed it “the next Hello Kitty.” In June 2025, Pop Mart’s valuation hit $44 billion, surpassing the combined market values of iconic toy makers such as Sanrio, Mattel, and Hasbro.

The company’s “The Monsters” collection, which features Labubu, became its most lucrative intellectual property. In 2024, the line generated $419 million in revenue, marking a staggering 726% year-on-year increase, according to Pop Mart’s financial disclosures.

A Surging Collector’s Market

Produced in Dongguan, southern China, Labubu toys were initially sold for about $14 per figure. But demand has far outpaced supply. The latest 3.0 blind box series sold out rapidly in China, driving up resale values. While standard figures now resell for three times their original price, rare editions have fetched as much as $600.

Outside China, the toy’s popularity has created long queues at Pop Mart stores in Los Angeles, London, Milan, and Tokyo. Analysts expect overseas revenue to reach $1.95 billion in 2025, cementing Labubu as a cornerstone of Pop Mart’s global expansion.

Redefining Cute: The “Ugly-Cute” Appeal

Unlike traditional toy mascots designed around polished charm, Labubu breaks convention with its oversized ears, jagged nine-toothed grin, and mischievous expression. This aesthetic is part of a broader “ugly-cute” trend that resonates with younger consumers seeking authenticity over perfection.

“Labubu stands out in a saturated market of flawless, glossy characters,” explained Cheng Fei, an indie designer from Shanghai. “Its anti-aesthetic speaks to youth culture today, where self-expression outweighs conformity.”

The Thrill of the Blind Box

Part of Labubu’s success lies in Pop Mart’s blind box model, where customers buy sealed mystery figures without knowing which design they will receive. This sense of suspense fuels excitement and keeps fans coming back.

Unboxing has become a cultural phenomenon, with countless videos shared across TikTok, YouTube, and Instagram. “Tearing open the box feels like betting on fate,” said A Yuan, a collector from Guangzhou, who recalled pulling a hidden edition on her very first purchase. “That moment felt like pure luck.”

According to a report from the China Consumers Association, this emotional rush is now a major factor in how young consumers make purchasing decisions—placing greater value on experience and connection than on practical use.

Beyond Borders: Global Adaptations

Labubu’s appeal lies in its ability to cross cultural boundaries. Unlike many branded characters tied to fixed storylines, Labubu offers narrative flexibility, allowing fans to project their own stories and meanings.

This openness has fueled user-generated creativity, from handmade costumes to beauty-inspired makeovers featuring rhinestones and playful lashes. A thriving secondary economy has also emerged. Gu Huijie, a seller in Yiwu, reported that “over half of our accessory orders come from overseas, mostly from the U.S.”

Pop Mart has localized its strategy to strengthen global relevance. Recent special editions include a Merlion-themed Labubu in Singapore and a traditional Thai-inspired version in Bangkok, blending cultural motifs with the character’s distinctive charm.

A Cultural Phenomenon in the Making

Labubu is no longer just a toy. Its adaptability, community-driven fan base, and unconventional appeal have elevated it into a global cultural symbol. From luxury resales to international collaborations, Labubu demonstrates how a quirky, “ugly-cute” figure can redefine consumer culture and rival industry giants.

As Pop Mart continues expanding its international footprint, Labubu’s empire shows no signs of slowing down—proving that in today’s market, emotional resonance and creativity are just as valuable as tradition and nostalgia.