By At a Pop Mart store in Shanghai’s Xuhui District, a young woman proudly shared her excitement about finally getting her hands on a Labubu doll after months of anticipation.
“I could never successfully order it online because the site was overwhelmed with buyers,” she explained. “But today, I finally bought Labubu from the official store, and I’m thrilled!”
When asked why she was so drawn to the toy, she smiled and said, “I love its design—it just makes me happy whenever I see it.”
Labubu, a rubber doll with rabbit ears, mischievous eyes, a big grin, and jagged teeth, has become wildly popular across Asia, thanks to its distinctive look and strong branding.
Labubu, designed by Hong Kong artist Kasing Lung, is produced by Chinese toy retailer Pop Mart. According to a report from Guosen Securities in November, Pop Mart is the biggest and fastest-growing company in the trendy toy industry.
In China, the demand for Labubu has far outstripped supply, and it has become a hit in many parts of Asia.
In April, Lisa, a Thai member of the popular K-pop group Blackpink, shared a photo on social media holding a Labubu doll and showing off a Labubu keychain. This sparked a craze in Thailand, which quickly spread to Vietnam, Singapore, and other Asian markets.
When Grace Lee from Singapore first saw a Labubu doll, she thought it looked strange with its bunny ears and sharp teeth.
When a colleague gifted Lee a Labubu doll in July, her opinion of them shifted. “I’m not sure why, but I started collecting them. Now I own about 12,” shared Lee, 36.
Labubu dolls are sold in sealed “blind boxes,” which prevent buyers from seeing what’s inside, adding an element of surprise and excitement. Smaller dolls, available in different poses and outfits, cost between $15 and $20, while larger 30 cm versions are priced up to $85.
In Singapore, Labubu is so in demand that it sells out within minutes of restocking. A Pop Mart staff member noted that the store replenishes a few hundred small dolls twice a week but never discloses the timing.
Fans monitor social media groups for restock announcements. “Within 30 minutes of hearing about a restock, people rush to the store and form long queues outside,” Lee added.
Pop Mart’s flagship product, Labubu, has driven a 440-445% increase in international sales over the past year. In its third-quarter report, the company revealed a total revenue growth of 120-125% compared to the same period last year.
Financial consulting firm Huatai Securities forecasts that Pop Mart is poised for further growth next year, with the potential to become a global leader in the toy industry. The Labubu trend is also spreading to Western markets, where Pop Mart now operates 16 stores in the United States.
“Labubu’s appeal lies in its trendiness. When you see others collecting it, you feel the urge to own one too,” said Joey Khong, a specialist at market research firm Mintel.
Pop Mart describes Labubu dolls as toys for adults, emphasizing that they are “not suitable for individuals under the age of 15.”
“These toys offer a sense of comfort to tired office workers, providing relaxation in an unpredictable world,” Khong noted.
According to Juda Kanaprach, co-founder of market research firm Milieu Insight, the Labubu craze has its roots in the longstanding culture of collecting figurines and toy dolls in Viet Nam, Japan, South Korea, and Hong Kong.
“They combine art, fashion, and pop culture. For many young people, these aren’t just toys—they’re miniature pieces of art that add personality and flair to their spaces and accessories,” Kanaprach explained.
Ana Gonzales, a 38-year-old from the Philippines, began collecting Labubu dolls after her friends joined the craze. To date, she has spent approximately $500 on her growing collection.
“The magic of Labubu is in the ‘blind boxes.’ The thrill of not knowing which version you’ll get is so exciting. Opening one after a tiring day feels just like unwrapping a present,” said Gonzales, a media manager based in the Philippines.
Labubu isn’t the first toy to capture the attention of adults. In the U.S. and Canada, Squishmallow plush toys were the top-selling toys of 2022. This trend has given rise to the term “kidults,” referring to consumers over 12 years old who seek toys and stuffed animals for comfort and relief from anxiety or loneliness.
For Grace Lee, collecting Labubu is more than just a way to revisit her childhood—it’s also a means of connecting with others.
“All it takes is hanging a Labubu on my bag to spark conversations with people. It’s such a heartwarming experience,” Lee explained.