Why Labubu Fever Is Taking the World by Storm: A Lifestyle and Investment Revolution

In Chongqing, Jenny was video-calling her nephew while searching for Labubu pendants. “They’re sold out in Indonesia,” she said, glancing at the empty shelves. The hunt for the popular collectibles had taken her here, but luck wasn’t on her side.

Meanwhile, Qin Yinghao, a hostel owner and avid collector, gathered with friends at a Pop Mart store. They were ready for the timed online release of the “Monster Series.” Qin felt a rush of excitement when he scored a pink Mokoko pendant. “I have hundreds of garage kits at home,” he shared. “They make my room feel warmer.” This excitement is common among collectors now—a community bonded by a shared love of these whimsical items.

For collectors like Qin, Labubu has become an everyday passion. Groups on WeChat pop up for trading duplicates and sharing tips. “I used to save for luxury bags,” one friend remarked. “Now, it’s all about opening blind boxes. It’s fun and social.” This shift from traditional luxury to modern collectibles reflects changing values among younger people.

On Xiaohongshu, a popular platform in China, collectors exchange tips on choosing blind boxes. Some suggest that the weight of each box can hint at its contents, turning the search for a specific doll into a strategic game. With insiders willing to share their tricks, the hunt has evolved into an art form.

Labubu itself has transformed from a niche item to a global sensation. Created by Hong Kong artist Lung Kasing and inspired by Nordic folklore, Labubu has become not just a collectible but a lifestyle icon. It’s even seen as a potential investment for many young collectors.

Labubu isn’t alone in this trend. Other blind box collectibles, such as Sonny Angel or My Little Pony, have made waves in the past. The concept of blind boxes has roots in Japan’s “lucky bag” tradition, where buyers purchase items without knowing what they’ll receive. In China, companies like Pop Mart have increased unpredictability, making it harder to complete collections and raising the resale value of rare items.

Pricing for these collectibles can be steep. A standard blind box costs around 99 yuan (about $13.70) in China, while full sets can reach 850 yuan. In the U.S., a single box retails for about $27.99, and some rare editions may sell for over 10,000 yuan ($1,390) on second-hand platforms.

The Labubu craze appears to be far from over. Celebrities like a Thai princess, David Beckham, and K-pop star Lisa have added to its allure. Sales for Labubu 3.0 surged significantly, with a reported increase of eight times in the U.S. and fivefold in Europe compared to last year, according to recent data from BofA Securities.

Pop Mart’s revenue for 2024 reached an impressive 13.04 billion yuan, doubling from the previous year. The “Monster series” alone generated 3.04 billion yuan, marking a staggering 726.6% growth. Their stock has skyrocketed, reflecting the rapid expansion of this trendy market.

As per Li Yongjian from the Chinese Academy of Social Sciences, the toy market in China could hit 100 billion yuan by 2026. He notes, “It’s becoming a new cultural and creative force.” Analysts agree, seeing products driven by intellectual property as competing with AI and robotics for long-term value, suggesting a significant shift in market dynamics.

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Chinese cultural export,toy market,second-hand market,Labubu,Pop Mart,blind box