Labubu Sculpture Sells Over $150,000 as Global Toy Craze Surges

Labubu, a collectible toy character created by Hong Kong artist Kasing Lung and distributed by Chinese company Pop Mart, has reached a peak in popularity and market value globally. A human-sized teal Labubu sculpture sold for over $150,000 at a Beijing auction, setting a new record for the blind box toy category and highlighting the character's transition from craze to collectible. The demand for various Labubu figures has caused prices to soar on e-commerce platforms, with some models selling for several times their original prices, fueled further by endorsements from international celebrities like Rihanna, Kim Kardashian, and Blackpink's Lisa. Pop Mart has expanded its presence worldwide, including stores in the US and Europe, where fans queue for limited editions, sometimes leading to incidents such as thefts and store sales suspensions. The phenomenon illustrates China's growing soft power and influence in the global collectible toy market, despite challenges from resellers, counterfeit products, and trade dynamics. Auctions and resale markets continue to flourish, with fans engaging in customizing and trading Labubu dolls, underscoring the brand's cultural and commercial impact.