Rihanna, Kim Kardashian, and David Beckham may be celebrities in their different spheres, but in the world of Labubu, they’re all fans.
Created by Hong Kong-born, Belgium-based artist Kasing Lung a decade ago, the character didn’t rise to fame until years later, when it teamed up with Beijing-based Pop Mart—a toy company known for their blind box series of sealed, mystery collectibles. It helped that Labubu has been spotted alongside celebrities and fanned by social media, with the hashtag #labubu being used in more than two million TikTok videos.
A star to the stars
JPMorgan described Labubu as ‘the next Hello Kitty,’ a comparison that feels apt, with Pop Mart being valued at $44 billion in June 2025—more than the combined values of Sanrio (creators of Hello Kitty and My Melody), Mattel (of Barbie and Hot Wheels fame), and Hasbro (known for characters including Transformers and My Little Pony).
Pop Mart’s ‘The Monsters’ collection—which includes Labubu—delivered a phenomenal performance in 2024, with revenue skyrocketing to $419 million, a year-on-year increase of more than 726%. The runaway success not only cemented its place as the company’s most lucrative intellectual property but also boosted investor confidence.
The rise of Labubu
Produced in factories in Dongguan, southern China, Labubu toys originally hit shelves for approximately $14. But the latest 3.0 blind box series quickly sold out in China, and the resale market has seen common variants fetch three times their original price, while rarer editions are commanding as much as $600.
Outside of China, the nine-toothed character’s global craze has seen long lines at Pop Mart stores from Los Angeles and London to Milan and Tokyo, and created demand that is expected to increase the company’s overseas revenue in 2025 to $1.95 billion.
The heart of the monster
With oversized ears and a permanent grin of nine jagged teeth, Labubu doesn’t fit the mold of conventional cuteness. Instead, it taps into a form of ‘ugly-cute’ charm that resonates with today’s consumers who prioritize emotional connection over practicality and choose self-expression over price comparisons.
As indie designer Cheng Fei from Shanghai explains, in a market oversaturated with polished, picture-perfect characters, Labubu’s intentional anti-aesthetic stands out as a refreshing countercurrent that speaks to modern youth.
Adding to the appeal is Pop Mart’s blind box format, which delivers suspense and surprise, a formula that has seen the popularity of unboxing videos on social media. Unlike traditional toys, these collectibles thrive on unpredictability, and the possibility of pulling a rare figure creates a sense of emotional thrill. “The rush of tearing open the box—it’s like betting on fate,” says Guangzhou-based buyer A Yuan, who once drew a hidden edition on her first try. “It felt like my luck had turned.”
That sense of chance and emotional payoff is part of a broader trend. According to a report from the China Consumers Association, emotional release has become a key factor in how young consumers make purchasing decisions.
Unboxing the craze
While star athletes and pop idols often appeal to specific fanbases, Labubu and other Pop Mart characters offer a low cultural threshold—an emotional accessibility that crosses age, language, and cultural lines. Labubu’s charm lies partly in its narrative freedom; it isn’t bound by a fixed storyline, which gives fans the space to create their own meanings and personal connections.
This open-endedness fuels a wave of user-generated content and creativity, from handmade costumes to playful beauty makeovers such as fake lashes and rhinestone teeth.
That DIY spirit has also sparked a secondary economy. “Over half of our orders come from overseas, and the vast majority of our products are headed to the United States,” says Gu Huijie, who runs a doll accessory business in Yiwu, crediting surges in demand to the launches of new Labubu series.
Pop Mart has also localized its global push to deepen its relevance in different markets while retaining the essence of the character. Country-specific adaptations have included a Merlion-themed Labubu in Singapore and a traditional Thai-dressed version for Thailand.
Together, Labubu’s adaptability, emotional openness, and creative community show how a once-niche figure has grown into something far beyond the toy box—into a cultural phenomenon and a reflection of contemporary creativity.
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