Blackpink’s Lisa supercharges Moynat x Labubu drop

What happened The furry, toothy monster Labubu may have become the most viral accessory of the year, but the Pop Mart toy’s origins trace back a decade. And to celebrate that 10-year anniversary, Hong Kong-based artist Kasing Lung, creator of The Monsters universe, has partnered with French luxury house Moynat to release a capsule collection. Launching October 11 in Shanghai before touring Paris, Taipei, Hong Kong, and the U.S., the collaboration marks the first time Lung’s characters of Labubu, Zimomo, and King Mon appear on the designs of a European luxury house. The characters feature across black monogram canvas totes, mini trunks, leather handbags, and passport holders. With the gremlin figurine being instrumental in the current luxury charm craze, monogrammed Moynat Labubu keyrings are a natural addition to the collection. Hollywood marketing Photographed by Xiangyu Liu, the campaign underscores its star power, fronted by two of Asia’s biggest cinematic icons, Malaysian Hollywood actress Michelle Yeoh and actor Tony Leung, who lend the collaboration a distinctly Asian, glamorous edge. Fashion editor Carine Roitfield and Paris Opera Ballet dance star Guillaume Diop, appear alongside them. If the Labubus hanging from Hermès Birkin handbags trend was not enough to cement the character in the luxury industry, this crossover affirms the toy’s reputation as a fashion collectors item. Once a cult figure in Asia, Labubu’s rise, from children’s figurine to Naomi Osaka’s U.S. Open companion and Lisa of Blackpink’s tour charm, reflects a unique opportunity for the toy market. The Jing Take The arrival of Labubu in Moynat’s latest capsule collection represents the monster toy’s transformation into a bona fide fashion IP. So far, The Monsters’ fashion moves have extended to Uniqlo and Chinese designer Pronounce. Those partnerships proved its resonance with fashion-forward consumers, but the Moynat capsule marks a decisive step as the first time Lung’s universe has entered the realm of Western luxury. Gen Z era An LVMH maison with deep roots in French trunk-making, Moynat is likely using Labubu to engage younger audiences, particularly in China. The brand has already experimented with local resonance, from a Qixi (Chinese Valentine’s Day) campaign styled by Lucia Liu in 2024, to a May 2025 “520” (the date is a homophone for “I love you” in Mandarin) campaign that gained high traction on Chinese social media. Within LVMH’s Fashion & Leather Goods division, where Asia has driven double-digit growth, Moynat’s play with Labubu positions it to ride fan culture and luxury’s regional momentum. Moynat has secured several cultural touchpoints with the campaign, too. From fronting the shoot with Hollywood legends, to having Blackpink’s Lisa, who first popularized Labubu among fashion fans, post an Instagram story holding a handbag from the collection to her 106 million followers. On Xiaohongshu (also known as RedNote), #MoynatKasing had reached 2,700 reads at the time of writing. On the platform, the Labubu hashtag demonstrates the extent of the monster’s Chinese fandom, boasting 4 billion impressions, while Moynat has 9.1 million, which is likely to increase thanks to the Blackpink Lisa Instagram photo (#Lisa is at 6 billion views). Stylistically, the collection is far from “quiet luxury,” with Labubu’s toothy grin and kaleidoscopic charms injecting a dose of playful maximalism into the historic European luxury house. In either case, Moynat is testing whether Labubu’s crossover power can drive desirability not among toy collectors, but within the fashion crowd. A sell-out collaboration would underscore a broader industry shift: toys and character IP can drive fans to luxury fashion purchases. The Jing Take reports on a piece of the leading news and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we analyze everything from product drops and mergers to heated debate sprouting on Chinese social media.

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Blackpink’s Lisa supercharges Moynat x Labubu drop