In June 2024, a mint-green, human-sized Labubu figurine sold for an astonishing 1.08 million yuan ($150,000) at a Beijing auction. But behind the headlines lies a layered, strategic, and emotionally resonant story of how a quirky Chinese designer toy quietly became a global cultural symbol, touching down in Bangkok before igniting the rest of the world.
It Didn’t Start in China — It Started with Lisa
Unlike most domestic brands, Labubu’s explosion in popularity started overseas. In early 2024, BLACKPINK’s Lisa, a Thai-born K-pop megastar, publicly revealed her love for collecting blind boxes and Labubu specifically. On stage and in interviews, she mentioned that completing the full Labubu set was her personal goal — not a sponsored line, but genuine fandom.
And the connection? Pop Mart, Labubu’s creator, had just launched its flagship store in Bangkok, opening in the city’s top luxury mall, shoulder-to-shoulder with brands like LV. The store was a joint venture with Thailand’s powerful Minor International Group, whose empire includes 500+ hotels, restaurants, and fashion distribution networks.
The strategy was simple but genius: position Labubu not as a toy, but as a luxury collectible — right from the first impression.
Thailand Didn’t Just Buy In — It Made Labubu a Star
In July 2024, Labubu arrived at Bangkok’s Suvarnabhumi Airport not as merchandise, but as a celebrity. The Thai Minister of Tourism even personally welcomed Labubu, naming it the “Magical Thailand Experience Ambassador” — essentially, a cultural tourism mascot aimed at Chinese travelers.
The move was unprecedented — but wildly effective. Lisa, a Thai cultural icon herself, soon began showcasing Labubu on her bags and in casual appearances. Her fanbase — 106 million strong on Instagram, 23 million on TikTok — followed suit. Labubu was no longer a toy. It was Lisa’s companion. And therefore, everyone’s obsession.
The Viral Effect: From Celebrities to Collectors
Lisa wasn’t alone. Other stars — Rihanna, Cate Blanchett, Princess Sirivannavari of Thailand, and even David Beckham — joined the trend. In London, fights reportedly broke out in Pop Mart stores. In New York and Milan, queues stretched outside the doors.
It was a ripple effect:
- Celebrities displayed Labubu.
- Fans mimicked them.
- The design’s uniqueness made it Instagrammable and TikTok-friendly.
- Resale prices soared.
- Demand fed the hype, which in turn fed more demand.
Who Created Labubu, and Why Is It So Emotionally Powerful?
Labubu is the brainchild of Hong Kong artist Kasing Lung, who spent his early childhood in the Netherlands, isolated by language and culture. Influenced by Nordic myths and fairytales, Lung created the MONSTERS Family, with Labubu as its flagship figure.
Initially, few noticed. Between 2015–2019, Lung took Labubu to expos and book fairs, but traction was minimal. In 2019, Pop Mart signed the MONSTERS IP — and the rest is history.
But Labubu’s charm is not just aesthetic. It’s emotional.
The character’s look blends opposites:
- Sharp fangs, but soft fur
- Mischievous grin, but kind-hearted backstory
- Asymmetrical eyes and ears — “ugly-cute” at its finest
Its vibe is similar to modern Chinese folk heroes like Nezha — defiant but moral, chaotic but kind. This blend of contradictory traits — cute yet fierce, lazy yet stylish, awkward yet iconic — resonates deeply with modern youth who see themselves as emotional contradictions.
The Real Business Behind the Magic
Pop Mart isn’t just a toy company. As one business analyst observed, it’s a “spiritual avatar operator.” Each IP — from Molly to Labubu — serves as a symbolic extension of its owner’s mood, taste, or values.
In 2024, Labubu’s THE MONSTERS series hit 3.04 billion yuan in revenue, growing 726.6% year-on-year. It’s now Pop Mart’s top-selling IP, helping push the company’s market cap past HK$300 billion, with founder Wang Ning becoming China’s richest man in Henan Province ($20.8B).
And there’s more to come: JPMorgan forecasts that THE MONSTERS will hit 14 billion yuan in sales by 2027.
Why Labubu Really Took Off: The Consumer Psychology
At its core, Labubu thrives on a few timeless consumer truths:
- Everyone has a mental budget for emotional treats — whether that’s a coffee, a handbag, or a collectible.
- People love products that combine:
- Trendiness
- Resale potential
- Emotional alignment
Labubu ticks all three.
Its blind box model adds gamification. Its celebrity associations add status. Its design adds identity.
And that’s why people line up to buy it, fight over it, and yes — pay $150,000 to own a life-sized version.