Cult toy to couture: Labubu’s ascent redefines luxury

When my daughter Eva introduced me to Labubu dolls, she said, “Everybody’s obsessed with them — they’re all over TikTok.” She wasn’t exaggerating. These mischievous creatures — best described as bunny-faced, plush toy monster-elves with nine-pointed grins — have taken the world by storm, dangling from Hermès and Louis Vuitton bags and popping up across celebrity social media. Intrigued, I recently spoke with the creative director of a leading Italian fashion house, who confirmed the buzz: serious money is being spent, with some collectors spending thousands or even tens of thousands of dollars. Celebs, ‘comfort-core’ fuel Labubu craze Plenty of press have been running stories about celebrity personalities and their favorite Labubu dolls, including Blackpink’s Lisa and Rosé. Social media personality Jamie Chua has also declared that she can’t get enough of them. She regularly shares how these cuties have been “invading” her personal space — her Instagram page is filled with photos of her Labubus, posed alongside her Birkins. These celebrities are not alone. Millions around the world are hunting for the latest drop. What does the toy’s explosive rise say about modern culture and luxury itself? Labubu was born in 2015 from a Nordic-inspired tale by Hong Kong artist Kasing Lung, originally part of his The Monsters graphic novel series. But the true tipping point came in 2019, when Chinese collectibles giant Pop Mart launched blind-box editions — sealed surprise packs that might contain anything from standard figures to ultra-rare “secret” ones. By 2023, Labubu had exploded. When Lisa of Blackpink was spotted with a Labubu bag charm, lines quickly formed outside Pop Mart stores in Southeast Asia, while resale listings on TikTok and Poshmark surged. Soon after, Rihanna, Kim Kardashian, Emma Roberts, and David Beckham followed, cementing Labubu’s status as both a street-style essential and a collector’s asset. Each Labubu is a blend of cute and uncanny: A fuzzy, round body, pointed ears, big eyes, and that signature toothy grin. That aesthetic — often described as “comfort-core meets camp” — taps into nostalgia, subversion, and emotional engagement. Many fans describe a visceral thrill: the rhythmic ritual of unboxing, the jolt of surprise, the TikTok-worthy reveal. That emotional hook translates into perceived value far beyond the toy’s modest $20–$30 production cost. How scarcity, social media create status symbols But how does a toy become a luxury item? Perceived value is socially constructed. Scarcity matters: blind-box mechanics, one-per-person store limits, and surprise drops announced over WhatsApp all fuel a hunted, gamified environment. Influencers and celebrities then amplify the aura, turning what was once cult into couture. The doll becomes a statement of identity — a form of insider access. It also embodies an aesthetic sensibility, or what one Guardian op-ed describes as “adult collectibles and fashion accessories,” serving as markers of nostalgia, curation, and social signaling. Cultural context also dictates value. In China, Pop Mart rebounded from sluggish economic growth thanks to the Labubu fever. Its “emotional consumption” model has driven both domestic and international demand and even inspired jewelry collaborations in Shanghai. Today’s craze is magnified by social media’s reach and velocity. Hashtags like #Labubu have amassed more than 1.2 million posts on TikTok and 1 million on Instagram. Unboxing clips, shelf displays, rare finds, and even creative uses of the doll as décor have spread virally, creating a powerful sense of community among fans. Reddit discussions capture this mix of enthusiasm and skepticism: “People are obsessively collecting them… designer figurines, super cute to some, creepy to others…” The combination of scarcity, surprise, and social proof has created a perfect storm for skyrocketing value. The result: Pop Mart’s stock has soared, and Labubu auctions are reaching six-figure sums, with a full-scale Labubu selling for 1.1 million RMB (about $150,000) at a recent auction in Beijing. Why Labubus matter to luxury As the Labubu trend shows, luxury today isn’t just about craftsmanship or precious materials like rare leather and solid gold. It’s a blend of scarcity, cultural relevance, and storytelling — something immediate, screen-pervasive, and conversation-worthy. Labubu proves that in the social-media era, luxury is co-created by communities, influencers, and micro-cultures. It relies less on price tags and more on emotional architecture and context. In other words, its perceived value is in the stories we tell about it. Luxury brands should take note: it’s not just about products anymore but what’s trending on TikTok shelves and influencer styling dumps. Today’s luxury can be furry, plastic, and sold in blind boxes — if it tells the right story. This is an opinion piece by Daniel Langer, CEO of Équité, recognized as one of the “Global Top Five Luxury Key Opinion Leaders,” and advisor to some of the most iconic luxury brands in the world. He serves as an executive professor of luxury strategy and pricing at Pepperdine University in Malibu and as a professor of luxury at NYU, New York. Daniel has authored best-selling books on luxury management in English and Chinese, and is a respected global keynote speaker. Daniel conducts in-person masterclasses on various luxury topics across the world. As a luxury expert featured on Bloomberg TV, Forbes, The Economist, and others; Daniel holds an MBA and a Ph.D. in luxury management, and has received education from Harvard Business School. Sign up for his online luxury masterclasses at the Jing Academy.

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Cult toy to couture: Labubu’s ascent redefines luxury