Beijing: With its quirky grin and monster-like charm, Labubu has evolved from a niche collectible into a global pop culture phenomenon, captivating celebrities and fans alike.
Recently human-sized Labubu doll was sold for a record 1.08 million yuan ($150,324 or £110,465) at the Yongle International Auction in Beijing this week, marking it as the most expensive toy of its kind ever sold, according to the auction house.
The 131cm (4ft 4in) figurine drew significant attention as part of a special auction event solely dedicated to Labubu collectibles.
Labubu dolls are quirky, monster-like characters created around ten years ago by Hong Kong artist Kasing Lung. Their popularity has surged in recent years, particularly following endorsements and frequent appearances in social media posts by global celebrities.
Sold by Chinese toy manufacturer Pop Mart, a typical Labubu doll is priced at around 50 yuan ($7), making the million-yuan sale an extraordinary leap in value.
The auction, entirely focused on Labubu figures, featured 48 collectible items and attracted approximately 200 attendees. In total, the auction raised 3.37 million yuan ($469,000), underscoring the brand’s growing appeal among collectors and fans.
The growing demand for Labubu dolls has been fueled largely by viral social media trends. Lisa of the K-pop group Blackpink frequently featured the toys in her posts, triggering widespread fan interest.
Other celebrities such as Rihanna and Dua Lipa have also been spotted with the dolls, while former England football captain David Beckham shared an Instagram photo showing a Labubu figure attached to his bag. These high-profile endorsements have helped turn the toy into a global sensation.
Labubu’s soaring popularity hasn’t been without controversy. Earlier this year, Pop Mart pulled the dolls from its UK stores following reports of physical altercations among customers competing to buy them.
The company is particularly known for selling its collectible toys through ‘blind boxes,’ mystery packaging that conceals the toy’s design until opened adding to the thrill and demand among buyers.
The success of Labubu has significantly boosted Pop Mart’s performance. In 2024, the company reported revenues of 13 million yuan ($1.81 million), more than double the previous year’s earnings.
Expanding its global footprint, Pop Mart has opened new retail stores in five countries, including Italy and Spain, solidifying its presence in the international toy collectibles market.
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