THE LUXURY OF LABUBU
David’s Bridal Labubu collab
Maybe you’ve noticed the fuzzy, pointed ear monsters hanging on your friend’s purse. Or perhaps you saw their mischievous, toothy grins in a viral TikTok video. Have you seen these creepy but cute keychains advertised on blind boxes online? If you haven’t noticed them, don’t worry, I’ll fill you in. However you have been introduced to Labubus, there is no denying these furry plush creatures are taking the fashion and toy worlds by storm.
Originally seen in a trilogy of picture books published in 2015 by Kasing Lung in Hong Kong, Labubu monsters are now sold in blind boxes at stores internationally along with other product lines under the Labubu name. Pop Mart (The retailer that sells Labubus) of North America reported that “The Monsters” alone brought in $419 million in 2024, a rise in profit of over 700% in just one year. The numbers are projected to increase further as well. These trendy toys are breaking records and surprising rival toy giants like Hasbro and Mattel. Celebrities and influencers have been sucked into the world of Labubu, which is fueling a higher demand by consumers.
This phenomenon makes Labubus a sought after and treasured luxury good. Fake Labubus, dubbed “Lafufus” by the fanbase, are being sold everywhere and enthusiasts are making internet content on how to spot these monster imposters. Real Labubus are selling out seconds after they’re released. A life-sized Labubu was resold at an auction in Beijing for $150,000 this June. These charm-like dolls are being resold at a steep price increase from retail value. In the US, Pop Mart sells Labubus starting at the retail price of $27.99, but you can pay upwards of a few thousand dollars for some rare variants being resold. The scarcity and resale values of Labubus are similar to what you’d expect from a limited edition sneaker drop.
The idea of Labubus coming in blind boxes is a fun gamble for consumers and also encourages impulsive purchases. The concept of a blind box is to buy a few of the boxes for the thrill of seeing if you got the one you wanted. There is nothing more validating than opening the box to see your favorite model waiting for you inside. It’s almost a game, and some people are completionists, so they will want to collect them all. It’s a luxury to have a singular Labubu, let alone finding and owning them all.
In our blatantly consumeristic society, we are more inclined to want something luxurious that we see as an icon of status. However, in the recent rough economic period, a lot of people can’t afford the luxury items like clothes or bags they used to purchase. The term “affordable luxury” describes Labubus perfectly. Labubu offers premium quality products at a lower price than typically purchased luxury goods. A keychain is a great item that shows personality and is affordable, which also makes the hype for Labubus skyrocket.
Like I said before, celebrities and other influential people, not just your average consumer, are on the Labubu train too. Their marketing initiatives are helping to spread Labubu awareness and market the keychain dolls as a desirable luxury fashion piece. One of the first celebrities who was known to speak out on Labubus was Lisa from the k-pop group Blackpink in April 2024. She posted various pictures of herself posing with Labubu keychain dolls on Instagram. Since then, mega stars like Rihanna, Dua Lipa, Kim Kardashian, Cher, and Simone Biles have been seen copping these plush monsters. Labubus aren’t just for women either, with one of the most famous retired soccer players ever, David Beckham, also repping these cute but creepy collectables.
But are Labubus here to stay or are they just another trendy fad? In the past, toys like Cabbage Patch Kids in the 80s, Beanie Babies in the 90s, and Silly Bandz in the 2010s have all tanked. Blind boxes themselves have been a recurring trend since the 1980s. Introduced in Japan, the bling box evolved from a combination of “fukubukuros” (lucky bags) and “gachapons” (capsule toys), and Labubus are a huge brand in modern blind boxes. Today, the Labubu craze seems to be running rampant. Accessories for Labubus are even being released, including a collaboration with David’s Bridal where you can purchase a wedding or bridesmaid dress for your Labubus. The dresses are advertised as $35 for a custom made bridesmaid dress and $50 for a wedding dress. China along with other Asian countries control a lot of the market, but the US also hopped on the blind box bandwagon recently and now hold the largest share (40%) of the blind box market in the world. Pop Mart predicts that Labubu sales will rise over 350% in 2025. Critics however say that is optimistic, as recently their stock dropped 6% the day after they announced the prediction. Only time will tell if Labubus will retain value. When and if this fad fizzles, what will be the next Labubu? Whatever it is, I’m sure it will have a phenomenal impact, just like the cute and creepy creatures hanging off your bag did this summer.