Labubu, the fluffy, sharp-toothed figurine, has taken the world by storm, propelling its creator, Pop Mart, to massive financial success. Discover the secrets behind this adorable, yet expensive, craze!
Labubus, the cute and creepy collectible figurines, have become a global phenomenon, driving a revenue explosion for Pop Mart, the Chinese company behind them. Sold in blind boxes, the rarity of certain designs, especially the elusive "secret" Labubu, fuels a fervent collector's market. In 2024, Pop Mart reported over $1.8 billion in revenue, with $420 million from outside China, largely attributed to Labubu's popularity. The company's clever sales tactic of offering a low probability (1 in 72) of obtaining the secret variant drives demand and increases spending. A CNN simulation showed that obtaining a secret Labubu could cost an average buyer around $2,000. Despite high demand, limited availability at Pop Mart's online and retail stores, coupled with inflated prices on reseller platforms like eBay, further fuels the craze. Online search interest in Labubu has also skyrocketed, particularly in several US states.
