Labubu’s biggest threat is not Wakuku, or Lafufu
Pop Mart’s designer toy empire faces its biggest test as resellers crash the secondary market, threatening the delicate economics of China’s hottest collectible.
Labubu plush dolls on display at a Pop Mart retail location. Once a symbol of viral collectible culture, the dolls now face a shifting market reality as presale strategy dents resale value — raising questions about whether Labubu can sustain its luxury cachet. Image: Bloomberg News
Labubu plush dolls on display at a Pop Mart retail location. Once a symbol of viral collectible culture, the dolls now face a shifting market reality as presale strategy dents resale value — raising questions about whether Labubu can sustain its luxury cachet. Image: Bloomberg News