Popularity of Labubu
source：https://baijiahao.baidu.com/s?id=1833979379242130442&wfr=spider&for=pc
Can you believe it? A small gadget that was still selling for 760 yuan at the beginning of last year has now skyrocketed in price to 7399 yuan, with its value skyrocketing by nearly 873.62%.
That's right, this little gadget is LABUBU, the leading actress of Pop Mart.
Bubble Mart's financial report shows that in the first quarter of 2025, the overall revenue of Bubble Mart increased by 165% -170% year-on-year, far exceeding market expectations. Looking at the entire year of 2024, Pop Mart achieved a revenue of 13.04 billion yuan, a year-on-year increase of 106.9%, with LABUBU contributing 23% of it, reaching 3.04 billion yuan, a year-on-year increase of 726.6%.
Once a favorite of a niche group, LABUBU has now become a new global IP, and the world's trendy gaming industry has finally welcomed "Chinese players". Can't help but wonder: Does a doll IP really have such great charm? LABUBU， Who exactly are they? How has it shaken the wallets and hearts of contemporary young people?
Part 01
The globally popular LABUBU
1. How popular is LABUBU?
You may be a bit unfamiliar with its name, but you must have seen such a little gadget somewhere before.
Perhaps it's a uniquely styled and cute doll that I stumbled upon on social media, paired with a short video of the addictive and brainwashing BGM "Soul Dance";
Perhaps it was seeing Lisa, a member of the Korean idol group Blackpink, frequently displaying LABUBU ornaments during public events.
In fact, overseas, LABUBU's fame is much greater than imagined.
When the 73 year old Thai princess visited Qingdao, she not only held LABUBU in her arms, but also hung one on her LV bag. Even the accompanying bodyguards helped her carry LABUBU, which was a royal level treatment;
In Thailand, LABUBU even has staffing, not only being awarded the title of "Magical Thailand Experience Officer", but also having to personally pick up Thai ministers in large formations;
In Singapore, the government has introduced relevant laws to curb the illegal reselling of LABUBU, which clearly stipulate that carrying LABUBU into the country must be declared, otherwise fines will be imposed.
2. Who exactly is LABUBU?
LABUBU originated from the picture book "Mysterious Buka", which was originally a sprite image created by Long Jiasheng in the picture book. Later, Long Jiasheng collaborated with toy brand How2work to "materialize" LABUBU's 2D image. In 2018, Bubble Mart obtained its exclusive authorization and released it to the public.
LABUBU's unique image features pointed elf ears, eight serrated teeth, a furry body, and devil like eyes, creating a strong contrast with toys that emphasize cuteness and cuteness.
Part 02
Why did LABUBU explode?
Five Steps to Creating a Trendy IP
In 2018-2019, when Pop Mart first broke the circle with its "blind box trend" and became popular all over the internet, LABUBU did not receive much popularity. Compared with the popular Crispy fried chicken "Molly" at that time, it was just a small supporting role in the Bubble Mart store. So how did it develop step by step to the current explosive level?
Blind box marketing+second-hand speculation
LABUBU is not the first blind box product to attract global attention, but now the blind box culture has undergone new changes.
In the blind boxes sold by Bubble Mart and others, the "end box guarantee" mode has been cancelled, which means that even if you purchase the entire set of products, you cannot necessarily obtain hidden products, greatly increasing the difficulty of collecting the complete set of products.
In addition, due to the enhanced randomness, blind box products have a higher premium in the second-hand market. Taking LABUBU's latest model as an example, the price of the regular version of the open box (confirmed style) has generally doubled, while the price of the end box (excluding the hidden version) has increased by 60%, and the price of the hidden version has almost increased by 15 times.
b. Social attribute explosion, circle cultural identity
This scarcity strategy not only satisfies consumers' appetites, but also stimulates social communication among them.
On social media, owning rare styles from LABUBU has become a symbol of personality and taste. People are happy to share their collections and gain emotional value that satisfies their vanity by sharing their LABUBU blind box loot. And LABUBU not only has "vinyl plush", but also creates different shapes through different "baby clothes" and accessories in terms of playability, which has sparked a "secondary creation" trend on social media.
Making LABUBU not only a toy, but also a social tool that can help players receive more attention and recognition within their social circle.
c. Short videos go viral, addictive brainwashing BGM
In China, the widespread popularity of LABUBU can be traced back to the opening of Bubble Mart amusement park.
For a while, dance videos about LABUBU went viral on the internet, featuring unique and cute dolls paired with mesmerizing BGM dances. The contrasting label of "soul dancer" quickly made LABUBU popular, making it one of the popular IPs in the amusement park. The related series of products quickly sparked a craze in the park and became popular items.
d. Celebrity sales promotion
Lisa, a member of the Korean girl group BLACKPINK, often posts LABUBU on social media. Celebrities such as Thai princesses have started using it as a decoration for designer bags like Herm è s, making it quickly one of the top trends in Southeast Asia. Afterwards, it entered the entertainment industry in Europe and America, with pop music diva Rihanna, singer Dua Lipa, and others using it as their trendy decoration. In China, celebrities like LABUBU even more, including Fan Bingbing, Yang Chaoyue, Ouyang Nana, and other female celebrities of different ages and temperaments.
The celebrity effect has brought huge exposure and discussion to LABUBU, making it one of the hottest fashion essentials.
e. Cross border collaboration
LABUBU has partnered with the sports brand Vans to launch a joint shoe and clothing collection, incorporating LABUBU's image into Vans' classic design elements. This collaboration has caused a huge response in the consumer market. The collaboration between Luckin Coffee and LABUBU has launched a joint venture featuring ice cups, paper bags, cup covers, and joint stickers. This is the longest and most extensive joint venture in Luckin Coffee's history, and is highly favored by consumers.
In addition, LABUBU also collaborates with cultural and tourism projects. The "LABUBU Adventure Thailand" project is an international communication case of cooperation between Pop Mart and the Tourism Authority of Thailand, which enhances LABUBU's influence in consumption and business, and also strengthens the brand's international influence.
Part 03
a. Brand marketing insights
Using contrasting and cute aesthetics to shape differentiated characteristics
LABUBU's design is unique, with a focus on contrasting and cute aesthetics, cleverly blending seemingly incompatible elements to create a unique visual impact. This design concept of being extremely ugly is trendy, which not only breaks traditional aesthetic concepts, but also leads a new trend.
In addition, LABUBU always appears together with luxury bags such as Herm è s and LV. Blind box dolls priced at over ten yuan have become a standard feature of luxury bags, making them look more trendy and cool. Therefore, some people may say, 'Having Hermes is not a big deal, the current trend is to have a LABUBU on the bag.'
。
b. Hunger marketing, igniting consumer desire with a sense of scarcity
The trendy IP+blind box model has always been the marketing label of Pop Mart. This surprising experience and strong desire to collect through uncertainty effectively stimulate consumers' purchasing enthusiasm. Limited edition sales and hunger marketing are important ways to create trendy and popular products. The more difficult it is to buy a style, the more enthusiastic consumers are about buying it.
c. Satisfy emotional values and elevate the minds of young people in Generation Z
Have you noticed that from Disney dolls to Jellycat and now to LABUBU, time and toys are changing, but the passion of young people for painless motherhood has never changed. Nowadays, young people need emotional support and personal expression. Under the pressure and anxiety of confusion, plush toys that can Jointly expanding the circle and continuously creating freshness
By collaborating with major brands, artists, and popular IPs, LABUBU has successfully expanded its influence to a wider range of fields. More importantly, these joint collaborations have also brought more exposure opportunities and topic discussions to LABUBU. Whenever a new co branded product is launched, it triggers a new wave of enthusiasm and attention, further consolidating LABUBU's position in the trendy market.
Questions:
1) What are the main reasons of the popularity of Labubu?
2) What inspiration can you gain from the case?
二、社交属性爆发，圈层文化认同
