Chongqing , video-calling her nephew as she browsed the shelves for Labubu pendants. “He told me they’re sold out in Indonesia and asked me to try my luck here,” she said, but the shelves were already empty.
Jenny, a tourist from Indonesia, video calls her nephew while helping him choose a collectible in Chongqing. (Photo/Zheng Ran)
Qin Yinghao, a Chongqing hostel owner, is a devoted collector. That morning, at 11 a.m., he and his friends gathered at the Pop Mart store, smartphones ready for the timed online release of the “Monster Series.” He scored a pink Mokoko pendant, saying, “I have hundreds of garage kits at home- they make my room feel warmer.”
Qin Yinghao shows a Bridging News reporter the pendant he snagged through Pop Mart’s WeChat mini-program. (Photo/Zheng Ran)
For collectors like Qin, Labubu is part of daily life. They form WeChat groups to share news and meet in person to trade duplicates. “I used to save for luxury bags,” said one of Qin’s friends. “Now, I’d rather open blind boxes. It’s fun, exciting, and social.”
On China’s popular Xiaohongshu platform, posts reveal insider tips for selecting blind boxes at Pop Mart in Chongqing Raffles. Experienced collectors share tricks, like how the weight of each box can hint at its contents. Many guides recommend studying these strategies closely if one is after a specific doll, turning the hunt into an art.
These scenes showcase Labubu’s transformation from a niche collectible to a global phenomenon. Created by Hong Kong artist Lung Kasing and inspired by Nordic folklore, Labubu has evolved into a lifestyle icon, cultural symbol, and even an investment opportunity for young people worldwide.
Labubu isn’t the first blind box sensation to go global. From Sonny Angel to My Little Pony, blind boxes have been popular for years. Originating from Japan’s “lucky bag” concept, the model involves buying a product without knowing which version you’ll get, encouraging repeat purchases to complete a set. In China, brands like Pop Mart have removed the guarantee of getting a full set even when buying a whole box, increasing randomness and boosting resale value on the second-hand market.
Pop Mart’s Chongqing-exclusive series is available only in this city. (Photo/Zheng Ran)
Labubu doesn’t come cheap. In China, a standard blind box costs 99 yuan (about 13.7 U.S. dollars ), and full sets run about 850 yuan. On Pop Mart’s U.S. website, individual boxes go for $27.99, or $167.94 for a set of six. Some limited editions can even sell up to over 10,000 yuan(1,390 U.S. dollars) on second-hand platforms like Qiandao App.
The global craze for Labubu shows no signs of slowing down. Celebrities from a Thai princess to David Beckham and K-pop star Lisa, who owns one, are only fueling the fire. According to BofA Securities, Labubu 3.0 sales have skyrocketed—up eight times in the U.S. and fivefold in Europe compared to last year.
British football star David Beckham shared a photo of Labubu on his social media, a gift from his daughter. (Photo/Instagram)
Pop Mart’s 2024 revenue hit 13.04 billion yuan, doubling from the year before. The “Monsters series”, driven by Labubu, contributed 3.04 billion yuan, a 726.6% year-on-year increase. Its Hong Kong-listed stock soared to HK$235 per share, with a market cap exceeding HK$310 billion, more than five times its value from a year ago.
Li Yongjian, an expert with the Chinese Academy of Social Sciences, forecasts China’s trendy toy market will reach 100 billion yuan by 2026. “It’s becoming a new cultural and creative powerhouse,” he said.
As a Hangzhou-based analyst put it, “IP-driven products like Pop Mart, built on community and emotion, are competing with AI and robotics in long-term value.”