When it comes to the hottest star in the designer toy scene lately, LABUBU undoubtedly tops the list. This furry little creature is not only dominating social media and sweeping across the globe, but it’s also become an unexpected “secret weapon” for banks to attract deposits and has helped propel the founder of its collaborator, Pop Mart, to become the richest man in Henan province. So what exactly is LABUBU, and what makes it so magical?

Online, people jokingly describe LABUBU as a “celebrity with buckteeth, no backstory, and dependent on its character design.” While clearly tongue-in-cheek, this actually highlights its key traits — LABUBU features nine distinctive large, sharp, exposed teeth, and unlike most popular characters, it doesn’t originate from any animation or film. It’s the creation of Hong Kong artist Kasing Lung, envisioned as a whimsical forest elf.

Among countless designer toys, why is LABUBU the one that’s gone viral? I asked several friends who are deeply into the trend, and their answers shared some common themes: LABUBU is memorable, full of personality, and delivers emotional value. It’s not conventionally “cute” or “beautiful” — at first glance, it might even seem weird or ugly. But the more you look at it, the more endearing it becomes, eventually fitting into that niche of “ugly-cute” or “oddly adorable.” Fans adorn it with diamond-studded teeth, rainbow eyelashes, or unique outfits. In fact, LABUBU’s lack of a pre-existing storyline makes it more flexible and open-ended, ideal for customization and personal interpretation. While many dolls look alike, LABUBU’s distinctiveness and adaptability appeal to consumers who resist aesthetic conformity and celebrate nontraditional expression. The last character to win hearts by being “imperfect yet authentic and unique” might have been Nezha, the rebellious child deity from Chinese folklore.

Of course, like many top-tier designer toys, LABUBU’s rise to fame has its share of behind-the-scenes forces. In the past, celebrity and influencer endorsements were key to making toys popular. More recently, community-driven engagement and social “currency” have become essential. LABUBU’s success, however, is a masterclass in stacking all the right elements: celebrities + social media + blind boxes + a booming secondary market + brand collaborations.

LABUBU wasn’t an overnight sensation. For years, it remained relatively niche — until last year, when a surge of celebrity support brought it into the spotlight. Most notably, its third-generation blind box collection sold out within minutes not only in China but across global markets. This frenzy was further amplified by resale markups in the secondary market — sometimes dozens or even hundreds of times the original price — and a flood of viral content online. All of this helped boost LABUBU’s hype and desirability to new heights.

LABUBU isn’t alone in China’s global push into the designer toy market. Many other Chinese IPs have found international fame — some adored, others leaving global audiences baffled. But the top-tier toys all share one trait: they’re so hot they’re hard to get, and often come with high resale premiums. Online, many joke that “every generation has its own version of Maotai” — a reference to the ultra-valuable Chinese liquor — and LABUBU might just be the collectible of this generation. Pop Mart’s founder, Wang Ning, once quoted Nietzsche to describe this consumer phenomenon: “And those who were seen dancing were thought to be insane by those who could not hear the music.” It’s a fitting metaphor for how polarizing but powerful these trends can be.

Once dubbed “more addictive than cosmetic procedures and more profitable per square meter than hotpot chain Haidilao,” Pop Mart has returned to the spotlight thanks to LABUBU. But unlike its last breakout moment, today’s public is more familiar with the designer toy world, and the industry has evolved beyond the “toy economy” into the realm of the “emotional economy.” Sales strategies have also matured — from the early days of low-price, high-SKU offerings to new models like “global IPs with local expression.”

Reports show that by 2023, China’s designer toy market had reached a value of around 60 billion yuan (approx. $8.3 billion USD). Some agencies predict it could hit 110.1 billion yuan by 2026, with annual growth rates exceeding 20%. Whether this growth is sustainable or a bubble remains uncertain, but the underlying consumer trends are real. In 2023, China surpassed Germany to become the world’s fourth-largest IP retail market, with annual IP retail sales nearing 100 billion yuan. However, in terms of per capita IP consumption, China still lags far behind the other top 10 countries, indicating ample room for future growth.

Driving this growth is the power of consumer sentiment. According to recent reports, among emerging consumer groups, “happy spending” and consumption driven by emotional value or personal interests rank highest — over 40% identify with this mindset. In this category, preferences for cultural IPs, blind box toys, and related merchandise have even surpassed interest in pet ownership. Simply put, buying designer toys is no longer just about the toys themselves — it’s about creating emotional connections.

Under popular posts, even those who aren’t die-hard fans often express a shared sense of pride in LABUBU’s “Made in China” origins. On one hand, LABUBU has tapped into the emotional economy; on the other, it showcases the power of China's supply chain. Together, LABUBU and the broader toy industry have won fans worldwide, reflecting China’s shift from “Made in China” to “Brand from China.” However, with great popularity comes necessary caution: quality control issues, price gouging, and warnings about blind box addiction among minors have all drawn public concern. On the consumer side, it’s important not to get too carried away; on the production side, companies must be careful not to let success breed complacency. Only by balancing enthusiasm with responsibility can the industry create a sustainable ecosystem with lasting potential.

As we speak, warehouses are packing up mountains of LABUBUs and other designer toys, shipping them off to destinations around the world. They may be plush, plastic, or uniquely shaped, but they carry with them attitudes toward life, expressions of cultural identity, and new ways of connecting with the world.