The Labubu Craze: How a Tiny Monster Doll Conquered 2025

In 2025, a small, elf-like monster doll with pointed ears, a mischievous grin, and a row of tiny sharp teeth became one of the most sought-after collectibles on the planet. Labubu — the "ugly-cute" creation that hung from designer handbags and belt loops across the globe — turned a Chinese toy company into a billion-dollar phenomenon and captured the strange psychology of modern collecting.

From Storybook to Global Icon

Labubu was created by Hong Kong-Dutch artist Kasing Lung, who introduced the character as part of his picture book series "The Monsters," drawing on Nordic folklore. In 2019, Lung partnered with Pop Mart, the Beijing-based collectibles company founded in 2010, which secured the rights to turn the character into mass-produced toys — sold in the company's signature "blind box" format.

The Blind Box Effect

The blind box was central to the craze. Buyers purchase a sealed box without knowing which figure is inside, turning each purchase into a gamble. The thrill of the reveal — and the hunt for rare "secret" editions — created an addictive, repeat-purchase dynamic. Collectors described the dopamine rush of opening a box and discovering a limited edition, and the fear of missing out drove demand even higher as scarce versions sold out instantly.

Celebrities Light the Fuse

Labubu's popularity exploded after high-profile celebrities embraced it. Blackpink's Lisa shared her collection, and Rihanna was photographed with a Labubu clipped to her bag. These endorsements, amplified across TikTok through endless unboxing videos, propelled the character from niche collectible to worldwide status symbol.

Billion-Dollar Business

The financial results were staggering. Pop Mart's "The Monsters" line, which includes Labubu, generated roughly $671 million in the first half of 2025 alone — an increase of nearly 670% year over year. The company's net profit surged almost 400% in that period. Labubu reportedly outsold established franchises like Barbie and Hot Wheels. On the resale market, rare editions commanded astonishing prices, with some pieces selling for dozens of times their original retail value.

The Backlash

As with many crazes, oversaturation eventually bred fatigue. A "no-buy" backlash emerged as some collectors pushed back against the relentless drops, the resale speculation, and the consumerism the trend represented. Yet whatever its long-term fate, Labubu had already cemented its place as one of the defining cultural and commercial phenomena of 2025 — a tiny monster that revealed just how powerful the combination of art, scarcity, celebrity, and surprise can be.