Editor’s Note
This article highlights the remarkable sale of a giant Labubu figure for over €130,000 at a Beijing auction, underscoring the soaring global demand for merchandise based on this Chinese-born character.
A giant Labubu figure was sold at auction in Beijing for over 130,000 euros, amid a global boom in demand for merchandise based on these characters created in China.
The small Labubu plush toys, resembling a rabbit crossed with a monster, were designed by Hong Kong artist Kasing Lung and are produced by the Chinese brand Pop Mart. With their flashy colors, these characters have become viral fashion accessories within weeks, worn by stars like Lisa from the South Korean group Blackpink, and singers Rihanna and Dua Lipa.
On Tuesday, June 10, a 131 cm tall turquoise figure, depicting a Labubu character with a furry body and head, reached the staggering price of 1.08 million yuan (132,000 euros) at a sale in Beijing, according to the Yongle auction house.
It was offered alongside other Labubu merchandise, including a 160 cm tall brown figure, which sold for 820,000 yuan (100,000 euros). Pop Mart has over 400 stores worldwide.
The craze for Labubu plushies is so intense that the brand decided last month to remove them from its physical stores in the United Kingdom due to the long queues forming, which it said posed safety issues. In Singapore, surveillance footage showed a family stealing Labubu dolls from a claw machine, according to the Singaporean online media AsiaOne. In the United States, burglars broke into a store in California last week and took several Labubu items, along with electronic devices and other valuables, as reported by the American television network ABC.
These toys have spawned a thriving resale market, as well as an online community of fans exchanging tips on customizing their plushies.
