Labubu is a marvelous creature developed by artist Kasing Lung. He’s become the new superstar in the toy world overnight! Labubu burst onto the scene in 2015 as gorgeous little beasts with sharp ears and fangs. These mesmerizing monsters were developed into three incredibly illustrated children’s picture books, rooted in Nordic mythology. Since then, this distinctive creation has transformed into a successful product line. Today, it has evolved into fun collectibles that are beloved by consumers around the world.
In 2019, Kasing Lung signed a revolutionary contract with Pop Mart. This huge player on the international collectible toy scene confirmed to us as an official retailer that they would sell Labubu figurines. Her partnership with the makeup line has turned out to be incredibly lucrative for both the artist and the brand. Labubu’s popularity has spurred a remarkable increase in Pop Mart’s revenue, which more than doubled in 2024 to an impressive 13.04 billion yuan, equivalent to approximately $1.81 billion. Sales went through the roof as a result of excitement that was breeding around Labubu. That enthusiasm proved to be a massive victory for Pop Mart!
The attraction of Labubu goes far beyond the scope of a usual advertising campaign. K-pop superstar Lisa of Blackpink has had an outsized impact on Labubu’s popularity. Today, she has more than 100 million followers on Instagram and is active on TikTok. Her posts with Labubu have sent fans and collectors around the world into a frenzy. This endorsement helped spur the character to become the latest phenomenon of the sort that makes a physical collectible a must-have.
Labubu is now stirring up a storm in the toy industry. It is not the first fad to capture the nation’s imagination and it certainly won’t be the last. The historical trends in the toy fads of the past tell an interesting story on how various fads have taken hold of children—and adults too. Take for example, Cabbage Patch Kids, which were introduced in the 1980s as squat, mushy-faced dolls with yarn tresses and adoption certificates. These dolls led the industry with over 90 million unit sales worldwide at their height, creating an overall model for collectible toys.
At the height of their popularity in the mid-1990s, Beanie Babies stormed the consumer market. Their cutting-edge designs and small-run limited editions drew in collectors from coast to coast. Tamagotchi began in the late 1990s as portable, egg-shaped digital creatures. With a powerful second wind in 2013 with a mobile app, it showed that today’s interactive toy still has the ability to engage and entertain audiences.
Fidget spinners took the world by storm as an essential stress-relief device. They were especially popular with kids and people with attention disorders. Thousands of producers, mostly based in China, churned out fidget spinners for several years. Until recently, when they finally exploded into a full-fledged mainstream phenomenon.
Of all in history, none is a better example than Ty Warner, founder of Ty Inc. He reached billionaire status by properly profiting from the Beanie Babies boom. His journey therefore has been anything but controversy-free. He previously received a two-year probation sentence in 2014 for hiding more than $25 million in assets from U.S. tax authorities.
The popularity of Labubu serves as an excellent reminder of how quickly new fads can catch fire with the right creative concept and go-to-market execution. Pop Mart predicts a fantastic profit jump of no less than 350% for the first half of this year over last. This big wave is a testament to the fact that Labubu’s cuteness is still bewitching consumers.
