CNBC AI News – The collectible toy market is booming, and one particular creature is leading the charge: Labubu, the undeniably popular creation captivating audiences worldwide.
Actress Yao Chen recently shared her own experience on social media, revealing her early adoption of the Labubu craze. She posted a photo of her own limited-edition figure, playfully admitting, “Last year I spent a few hundred yuan on this snaggle-toothed little monster, and my colleagues laughed at how ugly it was. Little did I know it would become a global phenomenon this year, and this one even a limited edition! This is probably the only investment in my life that has shown a real return…”
When asked by a fan why she bought the toy in the first place, Yao Chen quipped, “I thought it looked familiar because of its big grin.”
While Molly figures were once the dominant force for toy manufacturer, the Labubu IP, with its nine teeth and pointed ears, unexpectedly took off in Southeast Asia last year, becoming a major growth engine.
This year, Labubu’s popularity has exploded worldwide.
In late April, the third generation of the Labubu plush toys completely sold out immediately upon launch. Beloved by international stars like David Beckham, Rihanna, and BLACKPINK’s Lisa, these figures had become highly sought after.
On the secondary market, co-branded or limited-edition Labubu figures are fetching prices ranging from thousands to tens of thousands of yuan. At the global level, the demand far outweighs the supply, with reports of scuffles even erupting at shopping malls in London, England, as shoppers desperately sought after the coveted dolls.
In a recent internal company meeting, executives discussed their strategy in response to Labubu’s surging popularity. The company’s CEO, Wang Ning, emphasized the company aims to forge Labubu into a sustainable, long-lasting intellectual property rather than a fleeting trend.
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