A viral plush has become a global cultural flashpoint, weaving together fashion, toys and social media into a cash-tinged phenomenon. Known as Labubu, the creaturely dolls have moved beyond their origin as illustrated characters to become a coveted handbag companion for some and a symbol of everyman excess for others. The craze has drawn comparisons to luxury collectibles, with headlines dubbing Labubu “the new Birkin” and many observers noting how the items function less as toys and more as status signals. In June, a 4-foot-tall mint-green Labubu sold at auction in Beijing for about £126,000, while a tall brown version went for just under £105,000. The auction prices underscore a demand that far outstrips practical use and instead centers on visibility and resale value in a fashion ecosystem driven by social media, influencers and collectible scarcity.
Labubu originated about a decade ago when Hong Kong-born illustrator Kasing Lung created the mischievous, elf-like creatures for his Nordic-inspired picture book series The Monsters. In 2019 the figures were licensed to Chinese toy giant Pop Mart, which positioned them for a broader audience via blind-box collectibles. What began as a toy aimed at children quickly captured the attention of Gen Z trendsetters and influencers, who propelled demand through limited editions and a stream of new variants. Since then Labubu has proliferated into more than 300 versions, ranging from inexpensive mini figures to premium editions priced at around £1,000. Pop Mart has reported a surge in profitability—first-half results showing a roughly fourfold rise in profits for the year’s start—and its stock has surged well over 200%, outpacing some storied toy brands.
The popularity, however, has spawned a parallel world of counterfeit Labubus, dubbed Lafufus, as enthusiasts chase limited runs and exclusives. Rumors and speculations have swirled online and offline alike: some observers have linked the dolls to supernatural or demonic associations, while authorities in certain regions have taken measures amid reports of unusual activity surrounding the toys. In Iran, authorities seized thousands of Labubus amid reports of “demonic activity,” and in India a prominent influencer reportedly burned hers after claiming misfortune followed the doll. Reports of the dolls moving independently have circulated on social media, though skeptics urge caution and note that the allure lies as much in narrative as in any paranormal property. These stories, whether fanciful or cautionary, have only amplified the mystique surrounding Labubu and reinforced its status as a cultural talking point rather than a simple toy.
The Labubu wave has extended well beyond toy shelves and into the wardrobes of the fashion-aware. Celebrity and influencer culture—Kardashians, David Beckham, members of Blackpink, Lizzo, Rihanna, Cardi B, Dua Lipa and Cher among them—has helped propel Labubus from novelty to collectible. The dolls have adorned schoolbags and front-row seats alike, becoming a litmus test for what counts as “in the know” in contemporary street style. Yet the essentials of the phenomenon remain financial as much as aesthetic: limited editions, high resale values and the social currency they confer in online and offline spaces.
For some observers, the Labubu surge also intersects with a broader commentary on consumer culture. A columnist who explored the trend recounts obtaining a Labubu through an online shop and attaching it to a vintage Anya Hindmarch handbag. The toy’s presence drew attention in everyday settings—from a hairdressing appointment and a coffee shop to the subway—where strangers offered mixed reactions. Acknowledging the spectacle, the columnist noted that the Labubu’s appeal appeared to hinge on recognition and the social capital attached to owning a conspicuous, potentially pricey accessory. The experience highlighted how fashion ecosystems increasingly blur the line between object and icon, between whimsy and investment, and between personal taste and public display.
Alongside the social spectacle, the commercial dimension of Labubu is undeniable. Pop Mart has highlighted robust demand across price tiers, with a spectrum of products from accessible miniatures to premium pieces. The company’s recent financial updates show substantial profit growth in the first half of the year and a stock performance that has outpaced several peers in the toy sector. The scale of the Labubu phenomenon—versus its origins in a children’s book—illustrates how modern fashion and toy markets operate: narrative-driven, highly mediated by online culture, and able to convert whimsy into tangible economic value.
Observers note that the Labubu craze is not purely about the product itself but about the ecosystem that surrounds it: limited runs, mystery boxes, and a constant churn of new editions. The phenomenon has created a marketplace where novelty, status and storytelling converge, shaping how consumers perceive value and how brands engineer desire. For critics, the spectacle may feel excessive; for participants, it represents a modern form of collecting that blends fantasy, fashion, and digital culture into a shared experience. In this sense Labubu has achieved what many fashion fads aspire to: it remains a talking point long after most trend cycles have faded, and it continues to evolve as new editions, collaborations and memes emerge in social feeds and real-world events alike.
As the Labubu narrative unfolds, industry watchers say the core lesson may be less about a single toy and more about how cultural movements are built today: through a rapid feedback loop of online hype, celebrity endorsement, limited production and a fluid sense of value that can shift with a single viral moment. Whether the Labubu moment endures as a lasting fashion accessory or settles into a more modest role in the wardrobes of a subset of trendsetters remains to be seen. What is clear is that the Labubu story offers a window into a contemporary culture where a simple plush, propelled by imagination and social networks, can command attention, spark debate and reshape a segment of the market in a matter of months.