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LABUBU: The Monster That Made Pop Mart a Global Phenomenon
LABUBU by Kasing Lung went from a limited Nordic-inspired picture book to the world's hottest designer toy — the IP that made Pop Mart global. Here's the full story, the blind box series, and why collectors pay thousands.
LABUBU: The Monster That Made Pop Mart a Global Phenomenon
You’ve seen it dangling off handbags everywhere — a fuzzy, grinning, elf-eared creature with a row of sharp triangular teeth. That’s LABUBU, and it is arguably the most important designer toy of the decade. It didn’t just make Pop Mart famous; it turned a Chinese toy retailer into a worldwide IP machine and became the clearest proof yet that Chinese IP can go global.
As of its 10th-anniversary exhibition in Tokyo, THE MONSTERS franchise — the universe LABUBU lives in — has crossed ¥14.16 billion (~$2B) in 2025 revenue, becoming China’s first ¥10-billion IP, up over 365% year-on-year per the Pop Mart 2025 Annual Report. Here’s the whole story, from a rare picture book to a bag charm worn by the world’s biggest stars.
Who Created LABUBU — and Why It Looks Different
LABUBU was born from the pen of Kasing Lung (龙家升), a Hong Kong-born artist who moved to the Netherlands as a child. To learn Dutch, he read children’s picture books — especially Maurice Sendak’s Where the Wild Things Are — which planted a lifelong obsession with the mischievous, not-quite-cute creatures of Nordic fairy tales. Pop Mart’s artist profile describes how he became the first Chinese-heritage artist to win a European picture book contest (for Oki, 2003).
In 2015 Lung published The Mysterious Buka, the first book of THE MONSTERS trilogy — published in a limited run of only a few hundred copies. From that world came LABUBU: a small forest spirit with 9 teeth, pointy ears, and a mischievous but big heart. Unlike the “perfect cute” of most dollfies, LABUBU is a little ugly, a little naughty, and deeply lovable — an aesthetic fans now call “ugly-cute.” The Hypebeast feature frames the design as a deliberate pull between “something a little monstrous presented with warmth.”
From Niche Art Toy to 2019 Pop Mart Signing
Before the mass-market moment, LABUBU was a niche collector secret. Lung partnered with Hong Kong designer-toy pioneer How2Work in 2011, releasing hand-numbered vinyl figures in tiny runs — some editions of only 50 pieces, sold at art fairs via lottery, and many of those early hand-signed pieces now trade for thousands of dollars on the secondary market (GashaPoint profile).
The game changed in 2019, when Pop Mart signed an exclusive global license with Lung. Pop Mart’s retail muscle turned a cult character into a shelf-stable franchise, releasing the first LABUBU blind box series that same year. The economics were instant: the Manchester Independent guide notes that while the 2019–2021 era mainstreamed LABUBU across Asia, its global explosion was still a few years away — driven by a single celebrity.
The Lisa Moment, Thailand, and the 2024–2025 Explosion
LABUBU’s global breakthrough is textbook “one person, one post.” In early 2024, Lisa from BLACKPINK began flaunting LABUBU pendants on her designer bags — most famously on her Louis Vuitton Speedy — and the accessory instantly became a fashion signal. The moment connected two enormous fandoms (K-pop and designer toys), and the #labubu hashtag racked up billions of views (36Kr, 2024).
The explosio was strongest in Thailand:
- In July 2024, the Tourism Authority of Thailand officially named LABUBU an “Amazing Thailand Experience Officer” (36Kr).
- Pop Mart opened its first LABUBU-branded global store at Bangkok’s MEGA BANGNA mall; opening-day sales surpassed ¥10 million RMB — a single-day record for any Pop Mart overseas store.
- Pop Mart’s Southeast Asian revenue for H1 2024 hit ¥560 million, up 478%, and THE MONSTERS grew a staggering 726.6% to ¥3.04B in 2024 (36Kr).
By 2025, THE MONSTERS had become the fastest-rising IP in Pop Mart’s portfolio. LABUBU also made history as the first Chinese original toy IP to appear at a FIFA World Cup opening ceremony and marched down the Macy’s Thanksgiving Day Parade in the U.S. (Xinhua, 界面新闻).
The Luxury Turn: LABUBU × LVMH
The defining chapter of 2025 was LABUBU’s move into luxury. In September 2025, LVMH-owned heritage house MOYNAT launched a collab with THE MONSTERS (LABUBU, ZIMOMO, KING MON) on its M Canvas line — Labubu’s first luxury collaboration. LVMH chairman Bernard Arnault was photographed carrying the collab bag, and the limited 100-piece capsule sold out at an average ¥12,000 per bag. In December 2025, LVMH’s Greater China president Wu Yue joined Pop Mart’s board as non-executive director (界面新闻, 新浪财经).
Building a Collection + a Reference Table
A standard LABUBU blind box is ¥69–99 in China (around $10–14), while the flagship Have a Seat and Big into Energy vinyl-plush pendant series retail for about $26–40 internationally. Most LABUBU products are blind boxes with a single rare secret per series; odds are printed on each box.
| Model | Typical Price (CNY) | Notes |
|---|---|---|
| Standard vinyl blind box | ¥69–99 | Full set of 6 = ¥414–594 |
| Vinyl-plush pendant (Have a Seat / Big into Energy) | ¥99–229 | The viral bag-charm format |
| 400% / MEGA scale figures | ¥800–2,000+ | Display-collector pieces |
| Early How2Work hand-signed figures | ¥thousands on resale | Artist-proof editions |
The honest collector’s view: yes, some rare LABUBUs resell for 3–10× retail or much more — But the vast majority don’t. Collect because you love the design, not as an investment. For how the whole “secret figure” game works, read our guide to Pop Mart secret figures, and before buying resale, check how to tell an authentic Pop Mart from a fake.
Is LABUBU a “Fad” or a Long-Term IP?
That’s the fair question. After the 2025 spike, THE MONSTERS revenue actually declined in the first half of 2026 (¥4.45B vs. ¥4.81B year earlier) as the hype normalized (新浪财经). But Pop Mart isn’t standing still — it’s building a THE MONSTERS theme-land zone, an animated series (LABUBU & Friends), and its first global flagship store in New York’s Times Square (界面新闻, Xinhua).
LABUBU is really the gateway to understanding how Chinese IP is going global. If you enjoyed this, you’ll want to see how it compares to its siblings in our Labubu vs. Skullpanda vs. Hirono breakdown, and the bigger picture of Chinese designer toys.
Frequently Asked Questions
Who created LABUBU? Hong Kong-born artist Kasing Lung, who grew up in the Netherlands and built the character from Nordic folklore and European fairy tales. He won a European picture-book contest for his earlier work Oki (Pop Mart artist profile).
When did Pop Mart start making LABUBU? Pop Mart signed an exclusive license with Lung in 2019, launching the first LABUBU blind box series that year; earlier figures were limited How2Work releases from 2015.
Why did LABUBU suddenly get so popular? A combination of BLACKPINK’s Lisa wearing LABUBU bag charms (2024), massive TikTok/Instagram virality, and official support in Thailand (named “Amazing Thailand Experience Officer” by the tourism board). It turned the charmingly “ugly-cute” doll into a global fashion accessory.
Is LABUBU still worth collecting in 2026? For design love — yes, absolutely. As a pure investment, the 2026 slowdown shows the hype spike has normalized; worth it for the long-term IP, not a quick flip.
Sources
- Pop Mart 2025 Annual Report — revenue & IP figures
- Pop Mart artist profile: Kasing Lung & THE MONSTERS — artist bio
- Hypebeast: THE MONSTERS 10th Anniversary Exhibition, Tokyo
- GashaPoint: The Artist Behind Labubu
- 36Kr: LABUBU in Thailand, the Lisa effect
- 界面新闻: Pop Mart × LVMH / MOYNAT collab & board
- 新浪财经: Pop Mart and LVMH
- Xinhua: LABUBU at FIFA World Cup, market shift
- Manchester Independent: Pop Mart Labubu Guide