Bye-Bye Labubu: The Wild Rise and Tumultuous Fall of the Wide-Eyed Collectible Doll
For nearly a decade, the Labubu doll—a wide-eyed, grinning creature that looked part-fairy tale and part-nightmare—rode a wave of pop culture adoration, collecting millions of fans, a cult-like following, and staggering resale values. But as swiftly as it ascended, the phenomenon has been derailed by counterfeits, regulation, safety concerns, and even strange occult rumors.
This is the story of how a little creature from Hong Kong became a global status symbol—and why its glory days may be behind it.
From Illustration to Global Craze
Labubu was born in 2015 from the imagination of Hong Kong illustrator Kasing Lung, part of his The Monsters series inspired by Nordic folklore. The design was quirky, slightly unsettling, and irresistibly expressive—making it perfect for collectible culture.
When Pop Mart, the Chinese toy giant, partnered with Lung in 2019 to release Labubu in blind-box packaging, it unlocked a new level of obsession. Collectors didn’t know which variant they’d get until they opened the box, creating a rush of anticipation and an addictive “just one more” mentality.
Soon, Labubu wasn’t just a toy—it was a lifestyle accessory. Fans displayed them on desks, in cars, and across Instagram feeds. The design, at once innocent and mischievous, allowed people to project their own emotions onto the doll.
Celebrity Endorsement Lights the Fuse
The frenzy hit overdrive in April 2024 when Blackpink’s Lisa was spotted carrying a Labubu keychain. Within days, Southeast Asian markets saw a spike in demand. Other celebrity sightings followed—Rihanna, Madonna, David Beckham, and Marc Jacobs—cementing Labubu as a fashionable collectible for both toy lovers and pop culture elites.
These moments were social media gold. Videos of unboxings and “rare find” reveals gained millions of views on TikTok and Xiaohongshu. Limited editions vanished within hours, and the resale market exploded.
Prices Soar into the Stratosphere
What began as a $10–$15 blind box hobby quickly transformed into a high-stakes collector market. Rare colorways and special editions fetched eye-watering prices:
- Certain Labubu figures sold for over $10,500 on eBay.
- In June 2025, a mint-green Labubu fetched nearly $170,000 at a Beijing auction.
Pop Mart’s financials mirrored the mania. The company reported a 1,200% year-on-year sales increase in plush toys, with Labubu driving over a fifth of total revenue. In just the first half of 2024, The Monsters series generated RMB 6.3 billion (~US$870 million).
Trouble on the Horizon
The hotter the market, the bigger the problems. By late 2024, cracks began to show.
1. Counterfeit Invasion
Knock-offs—nicknamed “Lafufu”—flooded online marketplaces, undercutting prices and confusing buyers. Chinese customs authorities seized tens of thousands of fake units, and Pop Mart launched legal battles to protect its brand.
2. Safety & Crowd Concerns
In several countries, chaotic store openings and stampedes for limited editions led to sales suspensions. The UK and South Korea temporarily halted Labubu releases after public safety incidents.
3. Regulatory Pushback
China and Singapore introduced rules limiting blind-box sales to children, requiring parental consent to curb overspending and addictive buying behavior.
The “Cursed Doll” Phenomenon
Then came the strangest twist—online chatter about Labubu being “evil” or “cursed.” Social media users began linking the doll to the demon Pazuzu from Mesopotamian mythology, with the hashtag #CursedLabubu trending.
In India, comedian Bharti Singh staged a viral moment when she burned a Labubu doll on camera, claiming it brought “negative energy” after personal misfortunes. The clip fueled sensational headlines and stoked further superstition.
Pop Mart dismissed the rumors as absurd but quietly offered refunds in some markets to pacify nervous buyers.
A Brand at a Crossroads
Labubu’s trajectory is a cautionary tale in modern collectible culture. What began as a niche art toy became a global obsession fueled by scarcity marketing, influencer hype, and resale frenzy. But that same intensity made it vulnerable—once the magic cracked, the fall was swift.
For Pop Mart, the question now is whether Labubu can shed the baggage and remain a steady seller or whether it will be remembered as a short-lived fad. Kasing Lung’s creation may still have devoted fans, but the age of unstoppable growth is clearly over.
Labubu’s saga reveals the double-edged sword of modern hype culture: the internet can elevate a quirky design into a multi-million-dollar empire—but it can just as quickly turn it into a symbol of excess, controversy, and superstition.
In the end, the doll’s wide-eyed grin might remain in collectors’ hearts, but in the broader market, Labubu’s brightest days may have already passed.
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