🧸 The Labubu Hype
Larus ArgentatusIt began as a whimsical illustration inspired by fairy tales. It evolved into a designer toy. Then, almost quietly, it transformed into one of the most powerful pop culture hypes of 2025.
Labubu is many things at once. A plush doll clipped to handbags. A vinyl collectible pursued through blind boxes. A fashion accessory. A social media symbol. And eventually, a high value collectible that reached auction houses and six figure sales.
What makes Labubu truly fascinating is not simply its popularity. It is the way art, psychology, community, scarcity and modern consumer culture merged into a single phenomenon, transforming a storybook character into a global economic and cultural force.
In recent years, the world has witnessed countless trends rise rapidly and disappear just as fast, from viral internet crazes to speculative bubbles such as the NFT boom. Many of these hypes were driven by short lived excitement rather than lasting emotional connection. Labubu, however, followed a different trajectory.
I. The Birth of Labubu
Before Labubu ever existed as a physical object, it lived inside illustrated story worlds created by Kasing Lung (龍家昇).
Born in Hong Kong and later raised in Europe, Lung was deeply influenced by Nordic folklore, fairy tales, and the magical realism found in classic children’s literature. These stories often featured elves, forest creatures, and mischievous spirits that balanced innocence with darkness.
The Monsters Trilogy by Kasing Lung, published by How2Work in 2019, captured the hearts of readers with its whimsical storytelling, emotional depth and richly imagined world. The trilogy did more than introduce characters.
Over time, however, the books quietly went out of print.
As Labubu’s global popularity surged through collectibles, the original story foundation became increasingly difficult to obtain. Copies now circulate mainly through secondary markets, often at elevated prices, while ordinary bookstores no longer carry the series. This scarcity has sparked online petitions and fan campaigns calling for an official reprint, with many arguing that the growing global audience deserves access to the original stories that shaped the phenomenon.
Ironically, at the peak of Labubu’s cultural relevance, the very trilogy that gave birth to the characters has become one of the rarest pieces of the entire franchise.
Rather than perfect, polished fantasy beings, Labubus were emotional and playful. They were kind hearted but chaotic. Curious yet mischievous. Gentle yet capable of causing trouble through good intentions.
Each Labubu had personality. Some storylines followed romantic subplots, including one Labubu teasing a shy skeleton character named Tycoco. Others explored friendship, adventure and emotional growth.
By Lung’s own accounts, there were around one hundred different Labubu characters living within this story universe.
This approach mirrors the structure behind some of the greatest cultural masterpieces in modern history. Universes such as Harry Potter, The Lord of the Rings, and The Hobbit did not succeed because of a single character or object, but because they built immersive worlds filled with depth, continuity and emotional attachment.
Labubu followed the same narrative principle on a smaller but remarkably powerful scale. By offering a rich character ecosystem rather than a standalone design, it allowed fans to form personal connections, explore storylines, and emotionally invest in the universe behind the collectible.
II. From Art to Collectible
The transition from illustrated character to global collectible happened through a collaboration with POP MART in 2019.
POP MART had already revolutionised the designer toy industry in Asia by transforming collecting into an experience. Their core model was simple yet psychologically powerful
blind box purchasing.
Instead of choosing a figure, buyers purchased sealed boxes without knowing which design they would receive.
Each series typically contained:
- a group of common characters
- several less frequent designs
- a few rare editions
- and one ultra rare “secret” figure
This structure mirrored gambling mechanics and trading card culture while staying within collectible toy formats. Not everyone viewed this positively. Critics pointed out that blind box systems can introduce children to gambling like behaviour at an early age, normalising risk based spending and impulsive buying. While supporters saw it as harmless collecting, the debate highlighted growing concerns around psychology driven sales models in youth markets.
When Labubu entered this system, something unique happened.
Unlike many characters designed purely for visual appeal, Labubu already had emotional depth, narrative context, and personality.
The first Monsters series under POP MART reportedly broke sales records within the designer toy category.
III. The Social Explosion
By 2023 and accelerating through 2025, Labubu escaped the collector niche and entered mainstream lifestyle culture.
People clipped Labubus onto:
- handbags
- backpacks
- belt loops
- camera straps
Photos of Labubu styled next to coffee cups, pastel shelves, plants and outfits flooded Instagram, TikTok and Chinese platforms like Xiaohongshu (小红书).
Celebrities were soon spotted carrying Labubu figures clipped to their bags. Pop stars wore them as charms, while fans dressed as Labubu at parades and public demonstrations, turning the character into a visible cultural symbol.
At that point, Labubu was no longer simply a toy. It had become a form of visual identity.
In an era shaped by aesthetic self expression and online storytelling, Labubu fit perfectly. Its design balanced cuteness with a mischievous edge, artistry with playfulness, and nostalgia with modern appeal. For many, owning Labubu felt personal rather than commercial.
IV. The Hype Economy
As visibility increased, demand outpaced production.
Blind boxes that originally sold at modest retail prices, typically around €12 to €18 per unit at release, quickly rose on secondary markets once series began selling out. Within days of launch, common figures on resale platforms were often priced around €25 to €40, while hard to find designs and rare secret editions regularly traded for €100 to €300 or more. In some high demand drops, ultra rare figures climbed into the mid three figure range among dedicated collectors.
The most valuable Labubu figures tend to be the secret edition characters from early POP MART Monsters series, including rare black, gold and crystal variants that appear with extremely low pull rates. Limited art or collaboration Labubus also command high prices, especially those tied closely to Kasing Lung’s original releases and small production runs.
At peak hype, rare Labubu figures commonly reached:
• €150 to €300 for secret blind box editions
• €300 to €800 for early series rarities in high demand
• €1,000+ for limited collaborations and large art pieces
The hype peaked dramatically when a life size Labubu figure sold for over $170,000 at a major auction in China, drawing nearly one thousand bidders.
At that point, Labubu had officially crossed into fine art territory. What was once a playful collectible transformed into a recognised asset, attracting not only fans but also investors and speculators.
Some buyers no longer approached new releases for the joy of collecting. Instead, they analysed drops strategically, focusing on rarity, resale demand and market timing. For this growing group, Labubu was less about emotional connection and increasingly about financial return.
V. The Rise of Resellers
As demand continued to exceed supply, scarcity quickly gave way to opportunism. What began as a passionate collector community gradually evolved into a sophisticated resale ecosystem.
Dedicated buyers queued overnight outside POP MART stores to secure new releases. Online drops were increasingly targeted by automated bots capable of purchasing large quantities within seconds. Bulk buyers regularly cleared inventories before ordinary collectors had a chance to participate.
In doing so, resellers gained significant control over the market. They shaped post release availability, dictated secondary market prices, and largely determined access to rare figures.
Around this economy, entire social networks formed. Online groups emerged where members tracked upcoming releases, shared resale strategies and negotiated trades. For some participants, reselling Labubu became a profitable side activity. For others, it developed into a full time income source.
Yet this commercialisation also altered the spirit of collecting. What had originally been driven by emotional attachment, storytelling and joy increasingly shifted toward financial speculation. The experience of discovery gave way to market strategy, transforming Labubu from a cultural hobby into a competitive economy.
VI. Counterfeit Labubus and Growing Health Concerns
As resale prices continued to rise, counterfeit production expanded rapidly alongside demand. Unofficial Labubu figures began flooding online marketplaces, often marketed as affordable alternatives to sold out originals.
These knockoffs were typically produced using low quality materials and unsafe processes, including:
- cheap plastics that break down easily
- unregulated paints with unknown chemical content
- toxic colouring agents used to cut costs
- poor manufacturing standards with no quality control
Unlike official Labubu collectibles, counterfeit versions underwent no formal safety testing.
This became especially concerning as Labubu moved beyond adult collector shelves and into children’s spaces through plush toys and cheaper replicas.
Consumer safety investigations in multiple markets later revealed that some counterfeit toys contained potentially harmful substances, including lead based paint and other unregulated compounds known to pose health risks.
What began as a joyful collecting trend had unintentionally created a shadow market with real world consequences.
Parents searching for affordable versions often unknowingly purchased unsafe products, demonstrating how hype driven economies can produce risks far beyond the original fandom.
VII. The Collector Culture
Despite increasing commercialisation and market speculation, a deeply passionate collector culture continued to flourish around Labubu. For many enthusiasts, collecting was never about profit, but about emotional connection, creativity and belonging.
Collectors curated their displays with the care of art exhibitions, transforming shelves into personalised galleries where each figure reflected mood, narrative and identity rather than simple ownership.
What deepened this attachment for many fans was discovering the artistic world behind Labubu itself. As collectors learned more about Kasing Lung’s background, including his childhood in Europe and his love for Nordic folklore and fairy tale traditions, the characters took on greater meaning. Labubu was no longer just a cute figure, but part of a myth inspired universe shaped by personal memory, fantasy and emotion.
This awareness sparked growing curiosity in Lung’s illustrations, storybooks and broader artistic work. Many collectors who originally entered through blind boxes began exploring his books and art pieces, developing a deeper appreciation for the passion and storytelling that formed the foundation of the entire phenomenon.
Collectors began curating their displays with the care of art exhibitions, transforming shelves into personalised galleries. Each arrangement reflected taste, story and identity rather than simple ownership.
Different collecting styles emerged, including:
- complete series collectors who pursued every release
- rare figure hunters focused on secret editions
- aesthetic curators who themed shelves by colour, mood or narrative world
Alongside physical collections, vibrant communities formed across digital and real world spaces:
- Discord servers dedicated to upcoming drops and trades
- WeChat groups coordinating international exchanges
- Reddit forums sharing displays, advice and market updates
- local meetups bringing collectors together in person
- global trading networks connecting fans across continents
Labubu became far more than a product. It became a shared language of belonging.
In an increasingly digital and fragmented world, this collector culture offered something many people were searching for: community, purpose, creativity and collective excitement around a shared passion.
VIII. Where Labubu Stood at the End of 2025
By late 2025, Labubu had completed a transition that few viral trends ever achieve. Instead of fading after its peak, it stabilised and evolved into a sustained cultural and commercial presence.
Most modern hypes rise rapidly and disappear just as quickly. Labubu followed a different trajectory.
As the market settled:
- common figures gradually returned closer to retail pricing
- rare and limited editions maintained high collectible value
- POP MART continued expanding its global retail footprint
- collector communities remained active and engaged
- high end pieces began appearing in art auctions and private collections
Beyond figurines and plush toys, Labubu’s presence expanded into lifestyle products. Designs began appearing on items such as notebooks, stationery, accessories and even confectionery. Whether through official production or licensed partnerships, the character was clearly transitioning into a broader brand ecosystem.
What once appeared as a fleeting craze had matured into a lasting franchise with multiple revenue streams, creative extensions and a loyal global audience.
IX. Understanding the Bigger Picture
Labubu’s rise makes one thing clear: hype is never random. It is not created by chance, nor sustained by popularity alone. True hype emerges when multiple forces align to form an experience that feels emotional, meaningful and socially reinforced.
At its core, Labubu combined powerful storytelling with carefully managed scarcity, transforming each release into an anticipated event rather than a simple purchase. This was amplified by strong community engagement, where collectors shared experiences, displays and discoveries, creating constant visibility and validation. A distinctive visual identity made the character instantly recognisable, while social proof through influencers, celebrities and peer networks fuelled desire. Above all, the buying process itself became an experience driven journey filled with anticipation, surprise and emotional reward.
Together, these elements formed a self reinforcing cycle of demand.
Labubu succeeded not because it was widely advertised, but because it offered something deeper than a product. It provided a character people emotionally connected with, a system that continuously generated excitement, a culture people wanted to belong to, and objects that carried personal meaning beyond their physical form.
This reflects a broader shift in modern consumer behaviour. People no longer chase objects for their utility alone. They seek emotion, narrative and identity through what they buy. Ownership has become a form of self expression, while participation in a trend offers belonging within a community.
In this sense, Labubu is not just a successful collectible. It is a case study in how modern hype is built, sustained and transformed into long lasting cultural relevance.
🎓 Labubu Was Not Just a Toy
The story of Labubu offers more than an explanation of one successful collectible. It provides a clear real world case study of how contemporary trends are built, accelerated and, in rare cases, transformed into lasting cultural brands.
By tracing Labubu’s journey from illustrated character to global franchise, you can observe each stage of a modern hype cycle in action: emotional creation, rapid visibility, scarcity driven demand, speculative market behaviour, cultural adoption, and eventual stabilisation. Many trends reach only the explosive phase before collapsing. Labubu progressed beyond it.
This distinction is crucial. It shows that not all popularity is equal. Some movements are driven purely by short term excitement, while others are supported by deeper narrative value, loyal communities and adaptable brand structures.
Understanding this pattern allows you to critically evaluate future hypes as they emerge. Whether in digital assets, fashion crazes, viral products or new technologies, you can now recognise the signals that indicate whether something is likely to fade quickly or develop into a long term phenomenon.
For readers who want to explore this evolution in even greater depth, the 2025 podcast episode Pop Mart and Labubu offers behind the scenes insights into how the brand expanded globally, how collector psychology was shaped and how the hype economy around Labubu was strategically built.