Labubu and Currency of Collectibility

Whether you’re chronically online or not, by now you’ve probably heard of or seen the mischievous, fuzzy, rosy-cheeked little creature that is taking the internet by storm: Labubu. Created by Hong Kong-based artist Kasing Lung and sold by blind-box retail giant POPMART, Labubus have become a must-have trinket as seen on the bags of celebrities like Rihanna and BLACKPINK’s Lisa, as well as across TikTok and Instagram feeds everywhere.

But what exactly makes Labubus so coveted? Marketers everywhere would do well to keep an eye on the organic growth of Labubu’s popularity, which owes much of its success to a collision of design, nostalgia, and meeting “the moment”. What may have started as a niche interest in nostalgia (i.e. the return of Y2K-style bag and purse trinkets to popular culture) has now evolved into a full-blown ecosystem of collector’s frenzy and must-have items. Combined with this nostalgia is the undeniably unique, adorable, and kind-of-creepy “character” design that makes Labubus such a coveted accessory. Marketing experts know that the best way to get consumers to buy into a product is to have them form an emotional attachment to it. What’s easier to form an attachment to than a small creature or, what the internet calls “a little guy”. Labubu’s design is quintessential to its success, with the iconic toothy-grin and pointy ears serving as a recognizable silhouette comparable to characters like Stitch (Disney’s Lilo & Stitch) or Baby Yoda (Star Wars: The Mandalorian).

Coming off of the 2023-2024 collector’s crazes of Sonny Angels and Smiskis, the fashion industry was ripe and ready for a new trend: cue celebrity endorsements. Essential to any product’s rise to popularity, the introduction of aspiration and exclusivity from a celebrity endorsement is priceless (Rihanna, in particular, being one of the most recognizable tastemakers of our time). Consumers become attached to building their collection, following in the footsteps of their idols. Adding in the fact that Labubu is part of a growing trend of “blind box” culture – where influencers and creators film themselves unboxing an item with an unknown product inside – you have a perfect concoction of viral marketing: surprise and obsession.

What do you think? Will you be getting your own Labubu? Let us know!