Pop Mart's Labubu blind-box figures become a global collectible craze

Labubu is a character created by artist Kasing Lung and sold as a collectible by Pop Mart, the Chinese designer-toy company. The figures, with pointed ears and a toothy grin, are sold in blind boxes, meaning buyers do not know which design is inside until they open the package.

Around mid-2025 the toys moved from a niche collector item to a worldwide phenomenon. Social media videos of unboxings and long queues at Pop Mart stores spread quickly, and celebrities, including BLACKPINK's Lisa, were seen with Labubu charms on their bags. That exposure drew in many casual buyers, and some rare designs were resold at prices far above retail.

The craze mattered because it showed how far a Chinese-made toy brand could reach in international markets, and it boosted Pop Mart's sales and profile. It also set the stage for the company's later licensed tie-ins with popular entertainment franchises, such as its collectibles based on KPop Demon Hunters.