Even if you're not very familiar with designer toys, or if you're already deep in the scene, you've definitely heard the name Labubu a lot lately. This "ugly-cute" little monster, designed by Hong Kong artist Kasing Lung, with its round body, pointy ears, and that row of signature tiny fangs, has forcefully broken out of niche collector circles into the mainstream. From trendy boutiques in Bangkok to concept stores in Paris, and even conventions in Los Angeles, you can always spot its shadow. In the secondary market, the price of a limited-edition Labubu has been driven absurdly high, with certain exclusive versions even auctioning for up to $150,000. Behind this wave, I imagine some people must be wondering: are we genuinely fond of it, or are we just being harvested as cash crops by capital?
Is the Strange Design Really Appealing?
I think this must be the first reaction for anyone encountering this product for the first time. Labubu's appearance is indeed unique – crooked eyes, a mischievous grin, a row of sharp teeth, peculiar fur; few people fall in love with this look at first sight. But young people eat it up, finding it rebellious and authentic enough. Social media is flooded with posts showing off collections, all seemingly overflowing with love for this "ugly" doll. But think about it carefully: was this "ugly" design already targeted by capital? Pop Mart turned this niche taste into an assembly-line commodity, then introduced limited editions and hidden versions, artificially creating scarcity. Blind boxes originally priced at a few dozen yuan can be resold for thousands. The so-called individuality might just be flashy packaging used by merchants to stimulate consumption.
Community of Enthusiasts or Battlefield for Buying Frenzy?
TikTok and Instagram videos tagged with Labubu have already surpassed hundreds of millions of views. Fans seem to be exchanging tips and showing off their "babies" (figures), creating an atmosphere so warm it feels like everyone is family. But come new product release day, the vibe changes instantly: when a collaboration drops, the community instantly turns into a "purchasing command center." Everyone would rather stay up all night, calling friends to help, just to snag a collaboration Labubu the fastest. Physical stores have to limit entry to 200 people to prevent stampedes, and some even start queuing in the early hours of the morning. Is this "fear of missing out" anxiety genuine enthusiasm among peers, or a consumption habit cultivated by capital?
How Much Sincerity is in Celebrity Endorsements?
Rihanna has posted Labubu, David Beckham has taken photos with it – the celebrity effect undoubtedly boosted sales. But nowadays, celebrity recommendations have long become a business with clear price tags. How much truth is there in these seemingly genuine displays of affection that aren't labeled as promotions? Fans spend money chasing the same items as their idols, while capital counts its profits in the background.
From my perspective, Labubu's fire is fueled half by young people's genuine liking and half by capital fanning the flames. Designer toys being hyped into financial products with outrageous premiums have long strayed from the essence of being toys. Pop Mart has profited immensely using this playbook, while "true fans" willingly open their wallets wide and spontaneously promote it. Everything surrounding Labubu now feels like it's inside a colorful bubble. I worry that when the bubble finally bursts, capital will walk away with the money, influencers will ride the wave of hype to fame, and only us ordinary folks will be left behind, like the confetti swept up after the carnival.