A mischievous grin. Ears that jut out just a bit too far. An aesthetic that flirts with both the adorable and the uncanny. Labubu, the now-iconic figure at the heart of Pop Mart’s explosive ascent, isn’t your average collectible. In fact, its story reads as a case study in how culture, commerce, and the psychology of desire can converge to create a monster business—one plush at a time.
The Rise of an “Ugly-Cute” Icon
In a market saturated with saccharine, wide-eyed cartoon mascots, Labubu’s “eerie yet endearing” design is nothing short of a rebellion. Its creator rejected the conventional ‘kawaii’ blueprint, instead crafting a figure that is as mischievous as it is magnetic. The result? A toy that manages to be both “ugly-cute” and instantly recognizable, a rare feat in the world of collectibles.
It is precisely this offbeat charm—the sense that Labubu doesn’t quite fit in, and thus stands out—that has made it a status symbol among young, trend-conscious consumers. Where other collectibles fade into the background, Labubu’s unique style demands to be noticed, owned, and displayed. In the age of individuality, Labubu is the antihero mascot for a generation that values quirks over conformity.
From Niche Toy to Social Media Obsession
Labubu’s early years were marked by modest sales and a dedicated, if limited, fanbase. But the digital age would prove to be the great equalizer. As social media platforms became the new runways and art galleries, Labubu’s cult status blossomed, fueled by influencers and celebrities who recognized the character’s viral potential.
The turning point arrived in 2024, when global superstars thrust Labubu into the limelight. BLACKPINK’s Lisa, herself a fashion icon and trendsetter, began showcasing Labubu dolls as playful bag charms on Instagram, igniting a wildfire of mimicry among her millions of followers. Soon after, Thailand’s Princess Sirivannavari Nariratana—renowned for her own ties to high fashion—paired Labubu with Hermès at Paris Fashion Week. The toy’s street cred was cemented when figures like Rihanna and David Beckham joined the chorus, sharing Labubu’s image with their own global audiences.
These powerful endorsements transformed Labubu from a quirky collectible into a bona fide global status symbol. What’s especially noteworthy is the organic nature of this growth: Pop Mart’s own marketing efforts played second fiddle to the viral, grassroots spread of Labubu mania.
Labubu Mania: The Mechanics of Viral Collectibility
The celebrity effect was not just cultural—it was commercial. In 2024 alone, Pop Mart’s revenue doubled to nearly $2 billion, with Labubu leading the charge. Plush toy sales skyrocketed by an astonishing 1,200%, and plushes accounted for nearly a quarter of total revenue. The hunger for Labubu collectibles spilled over onto marketplaces like StockX and Whatnot, where these figures became the hottest trade items; the number of Labubu sellers doubled month after month since March 2024.
At the heart of this craze is Pop Mart’s signature “blind box” model. Buyers purchase sealed boxes, not knowing which character they’ll unbox. This taps into the powerful psychology of surprise and reward—think of the thrill of a lottery ticket, but with far better odds of delight. The anticipation, the repeated purchases, the viral unboxing videos: together, they create an ecosystem where desire feeds on itself, propelling both sales and social buzz.
- Blind box collecting becomes a ritual—one that is endlessly shareable across TikTok, Instagram, and YouTube.
- Trading and reselling inject an element of gamification, as collectors hunt for rare editions or complete sets.
- Surprise and scarcity stoke FOMO (fear of missing out), ensuring that demand remains white-hot.
Labubu, in this environment, is more than a toy—it’s a ticket to an exclusive club, one where creativity and community collide.
Pop Mart’s Strategy: Intellectual Property as Empire
While Labubu’s viral appeal might look serendipitous, Pop Mart’s rise is the result of calculated strategy. The company’s leadership recognized early the risks of overreliance on licensed characters and instead doubled down on building a robust Intellectual Property (IP) matrix. This multi-pronged approach harnesses both in-house design talent and external collaborations, ensuring a diverse stable of characters and stories.
After experiencing the pitfalls of lost licenses, Pop Mart pivoted toward IP-driven growth, forging strategic partnerships while nurturing proprietary brands like Labubu. This IP-centric vision has created a self-sustaining ecosystem: characters are not just merchandise, but media properties, fashion accessories, and social signifiers.
The company’s business acumen extends beyond product development. Pop-up stores and relentless international expansion have been vital. The brand’s footprint now spans the major capitals of Asia, Europe, and the United States, making Labubu a global citizen in the truest sense.
The results speak volumes: in fiscal 2024, Pop Mart’s net profit nearly tripled to 3.125 billion yuan (about $430.6 million USD), and revenue soared past 13 billion yuan ($1.8 billion USD). Labubu’s runaway success has been both the engine and the emblem of this new era.
Labubu and the New Language of Cultural Capital
Labubu’s ascent is not merely a business story—it’s a cultural phenomenon. In an age defined by the collision of nostalgia and newness, Labubu offers the perfect blend. Its design nods to vintage cartoon archetypes while staking out fresh territory in the “ugly-cute” aesthetic. It’s at once familiar and otherworldly, inviting both comfort and curiosity.
But perhaps Labubu’s most potent alchemy lies in its integration with fashion. No longer confined to toy shelves, Labubu appears as a bag charm at Paris Fashion Week, a desk companion in creative offices, a recurring motif in the feeds of celebrities. The collectible has become a fashion statement, a conversation starter, and a cultural shibboleth.
This is the future of collectibles: objects that are not merely amassed, but lived with—woven into the fabric of daily life and digital identity. Labubu’s story exemplifies how, when design, psychology, and marketing align, a simple figure can transcend its category and become a global icon.
The Business of Desire: Lessons from Labubu’s Meteoric Rise
What makes Labubu’s journey instructive is its demonstration of how modern consumer culture operates at the intersection of emotion, exclusivity, and experience. Pop Mart’s triumph is not about selling toys; it’s about selling aspirations, connections, and moments of joy.
- Design that defies convention captures the imagination—and the wallets—of a generation seeking self-expression.
- Celebrities and influencers can amplify a brand’s reach exponentially, especially when their endorsements are organic and authentic.
- Blind-box collecting leverages the thrill of the unknown, creating rituals that are ripe for social sharing.
- Strategic IP management future-proofs a brand, providing both resilience and room for creative evolution.
Labubu’s monster success is both a playbook and a challenge: it asks brands to think bigger, to trust in the power of difference, and to build communities rather than just products.
What’s Next for Pop Mart—and the Culture of Collecting?
As Pop Mart continues its global expansion, the question is not whether Labubu will endure—it’s how the brand will harness this momentum. Will Labubu evolve into a multimedia franchise? Will Pop Mart’s stable of IPs replicate this magic formula, or was Labubu lightning in a bottle?
One thing is certain: the age of collectibles has entered a new era, one where design, cultural cachet, and emotional resonance matter as much as rarity or nostalgia. Labubu, in all its oddball glory, stands as proof that the next global icon may not be what you expect—but it will certainly be unforgettable.
A mischievous grin. Ears that jut out just a bit too far. An aesthetic that flirts with both the adorable and the uncanny. Labubu, the now-iconic figure at the heart of Pop Mart’s explosive ascent, isn’t your average collectible. In fact, its story reads as a case study in how culture, commerce, and the psychology of desire can converge to create a monster business—one plush at a time.
The Rise of an “Ugly-Cute” Icon
In a market saturated with saccharine, wide-eyed cartoon mascots, Labubu’s “eerie yet endearing” design is nothing short of a rebellion. Its creator rejected the conventional ‘kawaii’ blueprint, instead crafting a figure that is as mischievous as it is magnetic. The result? A toy that manages to be both “ugly-cute” and instantly recognizable, a rare feat in the world of collectibles.
It is precisely this offbeat charm—the sense that Labubu doesn’t quite fit in, and thus stands out—that has made it a status symbol among young, trend-conscious consumers. Where other collectibles fade into the background, Labubu’s unique style demands to be noticed, owned, and displayed. In the age of individuality, Labubu is the antihero mascot for a generation that values quirks over conformity.
From Niche Toy to Social Media Obsession
Labubu’s early years were marked by modest sales and a dedicated, if limited, fanbase. But the digital age would prove to be the great equalizer. As social media platforms became the new runways and art galleries, Labubu’s cult status blossomed, fueled by influencers and celebrities who recognized the character’s viral potential.
The turning point arrived in 2024, when global superstars thrust Labubu into the limelight. BLACKPINK’s Lisa, herself a fashion icon and trendsetter, began showcasing Labubu dolls as playful bag charms on Instagram, igniting a wildfire of mimicry among her millions of followers. Soon after, Thailand’s Princess Sirivannavari Nariratana—renowned for her own ties to high fashion—paired Labubu with Hermès at Paris Fashion Week. The toy’s street cred was cemented when figures like Rihanna and David Beckham joined the chorus, sharing Labubu’s image with their own global audiences.
These powerful endorsements transformed Labubu from a quirky collectible into a bona fide global status symbol. What’s especially noteworthy is the organic nature of this growth: Pop Mart’s own marketing efforts played second fiddle to the viral, grassroots spread of Labubu mania.
Labubu Mania: The Mechanics of Viral Collectibility
The celebrity effect was not just cultural—it was commercial. In 2024 alone, Pop Mart’s revenue doubled to nearly $2 billion, with Labubu leading the charge. Plush toy sales skyrocketed by an astonishing 1,200%, and plushes accounted for nearly a quarter of total revenue. The hunger for Labubu collectibles spilled over onto marketplaces like StockX and Whatnot, where these figures became the hottest trade items; the number of Labubu sellers doubled month after month since March 2024.
At the heart of this craze is Pop Mart’s signature “blind box” model. Buyers purchase sealed boxes, not knowing which character they’ll unbox. This taps into the powerful psychology of surprise and reward—think of the thrill of a lottery ticket, but with far better odds of delight. The anticipation, the repeated purchases, the viral unboxing videos: together, they create an ecosystem where desire feeds on itself, propelling both sales and social buzz.
- Blind box collecting becomes a ritual—one that is endlessly shareable across TikTok, Instagram, and YouTube.
- Trading and reselling inject an element of gamification, as collectors hunt for rare editions or complete sets.
- Surprise and scarcity stoke FOMO (fear of missing out), ensuring that demand remains white-hot.
Labubu, in this environment, is more than a toy—it’s a ticket to an exclusive club, one where creativity and community collide.
Pop Mart’s Strategy: Intellectual Property as Empire
While Labubu’s viral appeal might look serendipitous, Pop Mart’s rise is the result of calculated strategy. The company’s leadership recognized early the risks of overreliance on licensed characters and instead doubled down on building a robust Intellectual Property (IP) matrix. This multi-pronged approach harnesses both in-house design talent and external collaborations, ensuring a diverse stable of characters and stories.
After experiencing the pitfalls of lost licenses, Pop Mart pivoted toward IP-driven growth, forging strategic partnerships while nurturing proprietary brands like Labubu. This IP-centric vision has created a self-sustaining ecosystem: characters are not just merchandise, but media properties, fashion accessories, and social signifiers.
The company’s business acumen extends beyond product development. Pop-up stores and relentless international expansion have been vital. The brand’s footprint now spans the major capitals of Asia, Europe, and the United States, making Labubu a global citizen in the truest sense.
The results speak volumes: in fiscal 2024, Pop Mart’s net profit nearly tripled to 3.125 billion yuan (about $430.6 million USD), and revenue soared past 13 billion yuan ($1.8 billion USD). Labubu’s runaway success has been both the engine and the emblem of this new era.
Labubu and the New Language of Cultural Capital
Labubu’s ascent is not merely a business story—it’s a cultural phenomenon. In an age defined by the collision of nostalgia and newness, Labubu offers the perfect blend. Its design nods to vintage cartoon archetypes while staking out fresh territory in the “ugly-cute” aesthetic. It’s at once familiar and otherworldly, inviting both comfort and curiosity.
But perhaps Labubu’s most potent alchemy lies in its integration with fashion. No longer confined to toy shelves, Labubu appears as a bag charm at Paris Fashion Week, a desk companion in creative offices, a recurring motif in the feeds of celebrities. The collectible has become a fashion statement, a conversation starter, and a cultural shibboleth.
This is the future of collectibles: objects that are not merely amassed, but lived with—woven into the fabric of daily life and digital identity. Labubu’s story exemplifies how, when design, psychology, and marketing align, a simple figure can transcend its category and become a global icon.
The Business of Desire: Lessons from Labubu’s Meteoric Rise
What makes Labubu’s journey instructive is its demonstration of how modern consumer culture operates at the intersection of emotion, exclusivity, and experience. Pop Mart’s triumph is not about selling toys; it’s about selling aspirations, connections, and moments of joy.
- Design that defies convention captures the imagination—and the wallets—of a generation seeking self-expression.
- Celebrities and influencers can amplify a brand’s reach exponentially, especially when their endorsements are organic and authentic.
- Blind-box collecting leverages the thrill of the unknown, creating rituals that are ripe for social sharing.
- Strategic IP management future-proofs a brand, providing both resilience and room for creative evolution.
Labubu’s monster success is both a playbook and a challenge: it asks brands to think bigger, to trust in the power of difference, and to build communities rather than just products.
What’s Next for Pop Mart—and the Culture of Collecting?
As Pop Mart continues its global expansion, the question is not whether Labubu will endure—it’s how the brand will harness this momentum. Will Labubu evolve into a multimedia franchise? Will Pop Mart’s stable of IPs replicate this magic formula, or was Labubu lightning in a bottle?
One thing is certain: the age of collectibles has entered a new era, one where design, cultural cachet, and emotional resonance matter as much as rarity or nostalgia. Labubu, in all its oddball glory, stands as proof that the next global icon may not be what you expect—but it will certainly be unforgettable.
