Labubu, the fuzzy, wide-eyed creature with jagged teeth, is not a luxury brand in the traditional sense. Yet, it has transcended its origins as a designer toy to become a global cultural icon with luxury-like appeal. Here’s a deep dive into how this transformation unfolded:
Labubu’s allure hinges on strategic scarcity. Pop Mart employs a blind-box model, where buyers don’t know which variant they’ll get, creating anticipation and FOMO (fear of missing out). Rare "hidden" editions, produced in limited quantities, drive a secondary market where prices soar. For example, the caramel-colored Labubu hanging tag edition, originally priced at ¥199, resells for up to $400—a 15x premium. Even more extreme: a 131cm mint-green first-generation Labubu sold for $148,000 at auction, surpassing traditional luxury collectibles.
Pop Mart strategically limits production and surprises consumers with pop-up releases, mimicking luxury brands’ exclusivity tactics. The 2024 "Whimsical Convenience Store" series dropped with minimal notice, causing global queues and app crashes. However, in mid-2025, Pop Mart flooded the market with restocks to curb speculation, leading to a 50% price drop in secondary markets. This adjustment highlights the delicate balance between scarcity and accessibility, a hallmark of luxury branding.
Labubu’s journey to luxury is fueled by high-profile collaborations that blur art and commerce. Partnering with legends like KAWS, Hajime Sorayama, and Disney, Pop Mart elevates Labubu into the realm of collectible art. The Labubu x Sorayama collaboration, featuring chrome-plated cybernetic designs, sold at Sotheby’s for $230,000—outperforming KAWS’ own works. These partnerships position Labubu as a cultural tastemaker, not just a toy.
Celebrity endorsements amplify its cachet. BLACKPINK’s Lisa, Rihanna, and Dua Lipa have been spotted with Labubu accessories, turning the doll into a fashion statement. Lisa’s Instagram post with a Labubu keychain went viral, triggering a surge in demand across Asia. Even Thai royalty and influencers like Kendall Jenner have embraced Labubu, aligning it with luxury lifestyles.
Pop Mart’s international strategy has been pivotal. In 2024, overseas sales accounted for 40% of Pop Mart’s revenue, with Labubu leading the charge. The brand’s Bangkok flagship store, which opened in 2024, generated $1.4 million in sales on its first day, blending retail with immersive art experiences. Labubu’s cultural resonance extends beyond borders: it was named "Amazing Thailand Ambassador" by the Thai government, appearing in official tourism campaigns.
Labubu’s cultural narrative further solidifies its luxury appeal. Rooted in Nordic folklore and reimagined through a "grotesque yet adorable" lens, the character embodies Gen Z’s embrace of imperfection and individuality. This emotional connection transforms Labubu from a toy into a symbol of self-expression—much like luxury brands that sell identity alongside products.
While Labubu exhibits luxury traits, it faces key challenges. Unlike traditional luxury goods, Labubu is mass-produced (though limited editions are crafted with meticulous detail), and its affordability—regular blind boxes start at ¥59 ($8)—contrasts with luxury’s exclusivity. However, Pop Mart is navigating this by tiering its offerings: regular editions for casual fans, limited art pieces for collectors, and high-end collaborations for luxury markets.
The brand’s sustainability of hype is another concern. Labubu’s value hinges on cultural relevance, which can fade. Yet, Pop Mart’s focus on community-building—through fan events, DIY customization trends, and user-generated content—creates a loyal following that transcends fleeting trends. For instance, the "customization" movement allows fans to personalize Labubu figures, fostering emotional attachment.
Labubu isn’t a luxury brand in the traditional sense, but it’s redefining what luxury can be. By blending scarcity, artistry, and emotional storytelling, it’s created a cultural currency that rivals established luxury houses. Its ability to command premium prices, collaborate with global icons, and resonate across generations suggests a future where Labubu could occupy a unique space—part toy, part art, entirely iconic.
As the line between pop culture and luxury blurs, Labubu’s rise signals a shift: luxury is no longer about material opulence alone but about meaning, community, and cultural capital. In this new era, Labubu isn’t just a toy—it’s a movement.
