Labubu Dolls and The Comeback of Plushies for Adults

Let’s start with a refurbished quote by Shakespeare – all the world’s a stage and we are merely consumers. In today’s hyperconnected age, one can find consumers for even the oddest of all products in the deepest corners of the world. What is needed is a gripping plot and marketing theatrics. Before you know it, the consumers themselves have been roped into the act and are catapulting the obscure product into internet virality, sparking an enigma around it.

That’s the story of the Labubu plush toys manufactured by Chinese toy company Pop Mart, which are now going on eBay for as much as $7,000!

What’s in a silly little plush toy, you ask? Ask the consumers who are queueing outside stores before sunrise, to get their hands on limited-edition Labubus, or the person in Beijing who spent $150,000 at an auction to purchase a human-sized Labubu. All this for just a toy? No, it’s not just a silly toy! It’s a designer toy. It’s a trendy-collectible and luxury item. Children want it, adults want it even more. So, really, the question is how did a toy with a ‘Made in China’ tag break into the luxury toy industry?

A Mysterious Proposition 

Just like Rome, a good marketing strategy isn’t built in a day and Pop Mart’s started with mystery boxes or blind boxes. It’s not a novel concept in the world of toys but it’s certainly the first time that this shopping trend has reached this scale. In today’s social media-driven world where “unboxing” content captivates audiences - the mystery box strategy offers a hook. It taps into the thrill of surprise and curiosity. There’s not one Labubu, there are many versions of Labubus with colour variations and special limited editions. You can’t pick a Labubu model of your choice. You’ll get what you’ll get, turning each purchase into a lucky draw experience.

There’s also a sense of community because you're never collecting it alone. There's this whole universe of people out there who get just as excited about your finds as you do. On Reddit alone, there are hundreds of subreddits just dedicated to discovering new plushies including the latest hot commodity - Labubus. They are thorough in detailing out how to spot counterfeit ‘Lafufus’ that sell for as little as $12 dollars from a real ‘Labubu’.

It’s Original Art, Not a Rip Off

In a world saturated by social media, authenticity and individualism are rare and therefore more valuable than ever. To stand out as a Chinese brand, in a world of mass manufactured plushies, Pop Mart markets itself as a ‘designer’ toy brand, brandishing profiles of the toy designers that they work with on their website, replete with background information around each designer’s artistic and cultural inspirations.

It’s not all strategy, it’s also the presentation. Think of it like MET gala outfits. Unlike clothes bought from a mall, they have a backstory, thematic references and designer stamps. Labubu has a similar presentation. It was created by Hong Kong-based artist Kasing Lung, who was inspired by Nordic mythology and folkore. Pop Mart’s other original IPs like Pucky, Molly, and Skullpanda co-developed with artists also have a fair bit of fan following and each of them have a story and blend of styles.

Less Access, More Luxe

If everybody had a Birkin, would a Birkin be a Birkin or just a handbag? The same goes for Labubus. Most of the time they’re sold out. Then there are some rare, limited-edition models. It’s no longer just a lucky draw for a doll - they now hold real resale value. While originally priced at anywhere between $25 to $100 depending on the line up, Labubus can fetch several hundred dollars on resale websites.

That’s how it’s getting adopted into luxury fashion. You will now see Labubu charms dangling off designer bags on the pages of Vogue. You will see celebs showing off their collections. You’ll find Harper Bazaar advising you on how to style your Labubu. It’s what The Guardian terms as a trend of “accessorizing accessories”.

Labubus Have Gone High-End, But Is It Here to Stay?

Now, that is the big question. Internet obsessions are fleeting and hopping from one viral trend to another but soft toys in general have been having a moment of their own.

Consider this: the global stuffed & plush toys market size was estimated at USD 11,756.7 million in 2023 and is projected to reach USD 20,287.2 million by 2030. 

Like Labubus, Squishmallows – another line of plushies made by American company Jazwares have also been enjoying their limelight despite its hefty price tag, so much so that Warren Buffet acquired its parent company in 2022 for nearly $12 billion, calling it a “gem”.

Plushies Blurring the Line Between Toys and Adult Fashion Collectibles

If you’ve seen the 90s, then you’ve seen the beginning of the plushie mania. Many generations of plushies have had their moments through the early 90s till 2000s  – like the Care Bears, the Beanie Babies, Furbies, Pillow Pets, etc. But what is new in the renewed plushie trend is that it’s not just about kids anymore. Rather, it’s the adults who grew up with stuffed toys as kids, that are spurring the demand for the new-gen plushies - be it Labubus or Squishmallows, or Dimoo, Twinkle, Hirono, Jellycat, Amusables or countless unnamed soft toys in the market.

Plushies are now for adults just the way video games, board games, Lego sets, colouring books or Star Wars are, and toy companies are taking note of the rush of adult consumers. Some of the biggest toy makers such as Mattel are specifically launching toys, including plushies, aimed at adults.

Perhaps, for millennials and gen Zs, the allure of collecting plushies now has to do with unlocking nostalgia - just like collecting trading cards or comic book issues. And the best part of it? The feeling of that treasure hunt and the rush when you get your hands on something elusive.

Just like how video games stopped being "just for children" and became this massive adult entertainment industry, it seems plushies are also now aiming for the grown-up audience. It’s going through a big shift from being seen as toys to becoming valuable collectibles that adults proudly embrace. They've figured out that adults – with their actual disposable income and nostalgic hearts – might just be the golden ticket to staying relevant.