Labubu Mania: The Global Phenomenon Reshaping Toy Trends
Labubu has become a global phenomenon . In China alone, for 2024, they recorded sales of about 355 million euros , and since then, their figures worldwide are growing at an astonishing rate of 480% . This toy fever has also made its way to Spain, where stores have sold out of stock, prompting many buyers to turn to platforms like Wallapop or Vinted , albeit with the risk of encountering fakes .
The manufacturer, Pop Mart , has seen its stock shoot up following an announcement by CEO Wang No , who indicated that their initial forecast of reaching 2.8 billion dollars in sales this year could potentially rise by 50% to 3.58 billion . Such growth would effectively double their revenue compared to 2024. The strategy involves launching the innovative “Mini Labubu” , a product expected to take the market by storm.
From Bags to Smartphones. With their iconic rabbit ears and mischievous smile, Labubu has conquered the hearts of buyers, finding a place in bags and backpacks after gaining publicity from influencers like Lisa from Blackpink , Dua Lipa , Madonna , David Beckham , and Kim Kardashian . Now, Pop Mart aims to extend the Labubu craze to something even more ubiquitous: smartphones . The Mini Labubu can be easily attached to phones, and its launch is set for later this week.
Inspired by Sonny Angel. The mobile accessories market is vast, but no comparison highlights Pop Mart’s upcoming leap with Mini Labubu quite like that of Sonny Angel . These small “plastic angels” emerged in 2004 and have since become a popular accessory attached to the mobiles and laptops of many young people in Spain, thanks in part to virality on TikTok .
<img alt="Labubu Toy Collection" width="375" height="142" src="https://i.blogs.es/21b73a/vivienne/375_142.jpeg"/>The key to Sonny Angel’s widespread popularity was the ‘Hipper’ version designed to fit snugly on mobile edges and screen corners. This design has been popularized by various celebrities, including Rosalía and Victoria Beckham . Similar steps, such as collaborations with brands like Casetify , hint that Pop Mart is poised for further growth following the launch of the compact Labubu. Currently, Pop Mart collaborates with major franchises like Disney , DC , Marvel , Minions , and Garfield . In fact, as explained in The Economist , China is evolving into a creative hub and has the potential to dominate the European toy market.
Aiming for Growth Amid Supply Challenges. Wang expressed optimism about the company’s performance “in foreign markets,” believing there is ample room for growth. He projects that sales in North America and Pacific Asia could match those in China by 2024. However, the limited production capacity of Labubus is a significant constraint. This has led to average resale prices skyrocketing up to $121 , with some units even reaching 240 euros , a stark contrast to their official sale price of around 30 dollars .
The dilemma mirrors what Xiaomi has faced in China regarding high demand for their products. The president of Pop Mart’s Supply Chain Center, Yuan Junjie , has stated plans to increase production capacity , aiming to produce ten times more than in the same period last year, translating to 30 million units per month . The company also plans to expand its production capabilities with two new factories abroad and two in China . Currently, obtaining a Labubu toy has become an art form in itself.
Image credit: Dushawn Jovic on Unsplash and Pop Mart
As the demand for Labubu continues its rapid ascent worldwide, they prove to be more than just a passing trend. Their cultural impact, especially among younger demographics, highlights a growing preference for collectibles that can resonate with personal styles and social media trends. Labubu’s journey from shelves to smartphones marks a new era in toy marketing and consumption, particularly in an increasingly digital world.