Kasing Lung created these whimsical Labubu dolls that each have enchanting monster friends. For more than ten years, these dolls have mesmerized and inspired collectors and fans alike. Their goofy appeal is one reason they’ve become increasingly popular since a string of recent high-profile celebrity endorsements helped kick-start their popularity. In particular, a 131cm (4ft 4in) Labubu figurine recently created quite a stir at an auction in Beijing. It fetched a jaw-dropping 1.08 million yuan (that’s the equivalent of $150,324, or £110,465)!
The auction took place at the Yongle International Auction House, where around 200 attendees gathered for an event dedicated solely to Labubu dolls. According to that auction house, 48 out of 82 items sold netted an amazing 3.37 million yuan ($555,900). While that’s an incredible success, it doesn’t tell the whole story. Pop Mart is best known for selling its line of adorable Labubu dolls in surprise “blind boxes.” This new packaging makes every individual purchase an exciting mystery for fans and collectors!
Kasing Lung first conceptualized Labubu dolls about ten years ago, and their offbeat aesthetic shot them to fame almost instantly. Specifically, their popularity has exploded in the past few years. This increase is driven, in large part, by promotion from social media influencers and celebrities. Lisa from popular K-pop group Blackpink often features Labubu dolls in her Instagram posts. This has greatly enhanced their mystique factor with the fans.
The typical street price for these special character figures is about 50 yuan, or $8 USD. Recent auction results are proving that demand for them is through the roof. Collectors are reacting with incredible enthusiasm, sparking a buying frenzy around the world. That hasn’t stopped fans from queuing up to get their own slice of the Labubu magic. It’s safe to say that retailers have snapped to attention on this one. Earlier this year, Pop Mart caused a stir when they removed Labubu dolls from every UK retailer following reports of customers brawling over them.
As Labubu dolls start becoming a global hit, only time will tell which direction their popularity takes. The one-of-a-kind designs and popularity with celebrities have made Labubu dolls highly sought-after collectibles. This electric pairing has firmly established their place as a national treasure in pop culture today.