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How the ugly cute monster rose to fame
How the ugly cute monster rose to fame
A Toy Worth Thousands: The Labubu Craze Begins
What started as a quirky collectible has turned into a luxury item. Labubu, a character toy from Chinese brand Bubble Mart, has become a hot commodity.
One special Vans collaboration version recently sold for over 28,000 yuan (around $3,800), sparking global buzz. The demand for these limited-edition figures is fierce—and it’s reshaping markets and headlines alike.
Wang Ning Rockets to the Top of China’s Rich List
The Labubu craze has had a ripple effect beyond toy shelves. Wang Ning, the founder of Bubble Mart, now sits atop the Henan province rich list.
He surpassed industry titan Qin Yinglin, with a reported net worth of $203 billion, according to Forbes. His fortune is closely tied to Bubble Mart, where he owns 48.73% of shares.
Celebrity Power Drives Cultural Hype
Labubu isn’t just a toy—it’s a pop culture icon. A-listers like Liu Yifei, Dilraba, Lisa (of BLACKPINK), Rihanna, and David Beckham have all shown off their Labubus.
These celebrity endorsements have catapulted the brand into the global spotlight, helping Bubble Mart’s stock soar to a valuation of HK$328.8 billion (about 301.2 billion yuan).
A Secondary Market Gone Wild
With demand outpacing supply, Labubu figures are commanding sky-high resale prices. A purple Milan Fashion Week edition fetched nearly 13,000 yuan, while a bundle that originally sold for 9,000 yuan later sold for 22,403 yuan.
In a dramatic auction, a Labubu toy bundled with an Hermès platinum package reached 203,428 yuan—ten times its original value.
Bubble or Value? The Great Debate
Labubu’s soaring prices have sparked heated debate online. Critics argue the toy’s market value has drifted far from reality, creating a speculative bubble.
Others defend the hype, saying Labubu symbolizes nostalgia, self-expression, and emotional connection. For many young buyers, it’s less about ownership and more about status.
The Psychology of the Blind Box
Part of Labubu’s appeal lies in its mystery. Sold in blind boxes with limited “hidden” editions, buyers never know exactly what they’ll get.
This surprise element fuels excitement—and obsessive buying. Combined with the thrill of rarity, it’s a formula that taps into deep emotional impulses.
The Role of Artificial Scarcity
Experts say Labubu’s success is no accident. Bubble Mart has mastered scarcity marketing, keeping supply tight and demand high. Limited runs and strategic drops make each figure feel exclusive. A
dd in limited collaborations and social media buzz, and you’ve got a perfect storm of consumer frenzy.
A Symbol for the Instagram Generation
Labubu has become more than just a collectible—it’s now a form of “social currency.” Influencers and fans show off their finds online, using the toys to express taste and individuality.
The toy’s imperfect, quirky design resonates with younger audiences tired of filtered perfection.
The Shadow of Fakes and Oversaturation
As Labubu’s value rises, counterfeit versions have flooded the market. This threatens the long-term health of the collectible toy space. Experts warn that buyers should stay cautious—many are overpaying, and the hype may not last.
Some are already comparing the trend to the sneaker boom, which eventually collapsed under overproduction.
Is Labubu Here to Stay—or Just a Trend?
While some see Labubu as a worthy collectible or even an investment, others fear it’s a fad on the brink of bursting.
With market prices far beyond retail, and popularity fueled by hype, the future of Labubu remains uncertain. Will it hold its value—or go the way of yesterday’s trends? Only time will tell.
Source: Trending on Weibo
