Labubus displayed at a newly-opened Pop Mart flagship store in Bangkok, Thailand. Demand for the collectible dolls is booming — and creating an economy spanning from resales to rentals.
Photographer: Ploy Phutpheng/SOPA Images/LightRocket/Getty Images
Labubu Is Now a Global Money-Making Machine. But for How Long?
A booming ecosystem for the small, toothy toys is spawning everything from bespoke doll couture to meme coins.
Manna Wang has long sent her top clients trendy luxury gifts, from Gucci scarves to Coach watches. In recent months, however, Labubus became her go-to — until they sold out.
Desperate, the Hong Kong insurance agent paid a college student HK$500 ($64) a day to track down Pop Mart International Group Ltd.’s plush toys, whatever the cost. One day in June, he found six Labubus retailing at HK$99, resold to her for around HK$600 each.