Here's Why Here's Why Labubus May Not Last
Sep 26, 2025
Rachel Chang, Asia Global Business Managing Editor at Bloomberg, gives a concise look at the Labubu toy craze. She traces how the collectible went viral, the resale boom and celebrity sightings, the flood of counterfeits and copycats, and whether Pop Mart can turn hype into lasting IP. Short, sharp takes on why the trend surged and what might make it fade.
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Why Labubu Suddenly Blew Up
- Labubu became a global craze through a mix of design, celebrity spotting, and luck.
- Rachel Chang says Lisa from Blackpink and sheer cultural timing helped Labubu hit a particular cultural sweet spot.
Toy Frenzies Usually Fade In Years
- Toy crazes often burn out within a few years, paralleling past phenomena like Beanie Babies.
- Caroline Hepker and Rachel Chang compare Pop Mart's surge and stock tumble to Beanie Babies' four-year fade.
Tiny Price Tag Fueled A Massive Resale Market
- Pop Mart's core product is cheap but resale and secondary markets exploded its perceived value.
- Rachel Chang notes originals cost
100 yuan ($14) while some resales and a life-size auction reached six figures.