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Labubu: How the Pop Mart dolls conquered the world
Labubu: How the Pop Mart dolls conquered the world

BBC News

time11 hours ago

  • Entertainment
  • BBC News

Labubu: How the Pop Mart dolls conquered the world

Whether you reckon they are cute, ugly or just plain weird, chances are you have heard of the furry dolls that have become a global sensation - a monster, the elf-like creature from Chinese toy maker Pop Mart is now a viral purchase. And it has no dearth of celebrity advocates: Rihanna, Dua Lipa, Kim Kardashian and Blackpink's Lisa. Ordinary folk are just as obsessed - from Shanghai to London, the long queues to snap up the doll have made headlines, sometimes descending into fights even."You get such a sense of achievement when you are able to get it among such fierce competition," says avowed fan Fiona world's fascination with Labubu has almost tripled Pop Mart's profits in the past year - and, according to some, even energised Chinese soft power, which has been bruised by the pandemic and a strained relationship with the how did we get here? What exactly is Labubu? It's a question that still bothers many - and even those who know the answer are not entirely sure they can explain the is both a fictional character and a brand. The word itself doesn't mean anything. It's the name of a character in "The Monsters" toy series created by Hong Kong-born artist Kasing vinyl faces are attached to plush bodies, and come with a signature look - pointy ears, big eyes and a mischievous grin showing exactly nine teeth. A curious yet divided internet can't seem to decide if they are adorable or bizarre. According to its retailer's official website, Labubu is "kind-hearted and always wants to help, but often accidentally achieves the opposite".The Labubu dolls have appeared in several series of "The Monsters", such as "Big into Energy", "Have a Seat", "Exciting Macaron" and "Fall in Wild".The Labubu brand also has other characters from its universe, which have inspired their own popular dolls - such as the tribe's leader Zimomo, her boyfriend Tycoco and her friend the untrained eye, some of these dolls are hard to distinguish from one another. The connoisseurs would know but Labubu's fame has certainly rubbed off, with other specimens in the family also flying off the shelves. Who sells Labubu? Pop Mart had been selling so-called blind boxes - where customers only found out what they had bought when they opened the package - for some years when they tied up with Kasing Lung for the rights to was 2019, nearly a decade after entrepreneur Wang Ning opened Pop Mart as a variety store, similar to a pound shop, in Beijing. When the blind boxes became a success, Pop Mart launched the first series in 2016, selling Molly dolls - child-like figurines created by Hong Kong artist Kenny Wong. But it was the Labubu sales that fuelled Pop Mart's growth and in December 2020, it began selling shares on the Hong Kong Stock Exchange. Those shares have soared by more than 500% in the last Mart itself has now become a major retailer. It operates more than 2,000 vending machines, or "roboshops", around the world. And you can now buy Labubu dolls in stores, physical or virtual, in more than 30 countries, from the US and UK to Australia and Singapore, although many of them have recently paused sales due to overwhelming demand. Sales from outside mainland China contributed to nearly 40% of its total revenue in demand did not rise overnight though. It actually took a few years for the elfin monsters to break into the mainstream. How did Labubu go global? Before the world discovered Labubu, their fame was limited to China. They started to become a hit just as the country emerged from the pandemic in late 2022, according to Ashley Dudarenok, founder of China-focused research firm ChoZan."Post-pandemic, a lot of people in China felt that they wanted to emotionally escape… and Labubu was a very charming but chaotic character," she says. "It embodied that anti-perfectionism."The Chinese internet, which is huge and competitive, produces plenty of viral trends that don't go global. But this one did and its popularity quickly spread to neighbouring South East who lives in Canada, says she first heard about Labubu from Filipino friends in 2023. That's when she started buying them - she says she finds them cute, but their increasing popularity is a major draw: "The more popular it gets the more I want it."My husband doesn't understand why me, someone in their 30s, would be so fixated on something like this, like caring about which colour to get." It helps that it's also affordable, she adds. Although surging demand has pushed up prices on the second-hand market, Fiona says the original price, which ranged from C$25 ($18; £14) to C$70 for most Labubu dolls, was "acceptable" to most people she knows."That's pretty much how much a bag accessory would cost anyway these days, most people would be able to afford it," she popularity soared in April 2024, when Thai-born K-pop superstar Lisa began posting photos on Instagram with various Labubu dolls. And then, other global celebrities turned the dolls into an international phenomenon this Rihanna was photographed with a Labubu toy clipped to her Louis Vuitton bag in February. Influencer Kim Kardashian shared her collection of 10 Labubu dolls with her Instagram following in April. And in May, former England football captain Sir David Beckham also took to Instagram with a photo of a Labubu, given to him by his the dolls feel ubiquitous, regularly spotted not just online but also on friends, colleagues or passersby. What's behind the Labubu obsession? Put simply, we don't know. Like most viral trends, Labubu's appeal is hard to explain - the result of timing, taste and the randomness that is the is certainly happy with the outcome. State news agency Xinhua says Labubu "shows the appeal of Chinese creativity, quality and culture in a language the world can understand", while giving everyone the chance to see "cool China".Xinhua has other examples that show "Chinese cultural IP is going global": the video game Black Myth: Wukong and the hit animated film Nezha. Some analysts seem surprised that Chinese companies - from EV makers and AI developers to retailers - are so successful despite Western unease over Beijing's ambitions."BYD, DeepSeek, all of these companies have one very interesting thing in common, including Labubu," Chris Pereira, founder and chief executive of consultancy firm iMpact, told BBC News."They're so good that no one cares they're from China. You can't ignore them."Meanwhile, Lababu continue to rack up social media followers with millions watching new owners unbox their prized purchase. One of the most popular videos, posted in December, shows curious US airport security staff huddling around a traveller's unopened Labubu box to figure out which doll is element of surprise is a big part of the appeal, says Desmond Tan, a longtime collector, as he walks around a Pop Mart store in Singapore vigorously shaking blind boxes before deciding which one to buy. This is a common sight in Pop collects "chaser" characters, special editions from Pop Mart's various toy series, which include Labubu. On average, Desmond says, he finds a chaser in one out of every 10 boxes he buys. It's a good strike rate, he claims, compared to the typical odds: one in 100."Being able to get the chaser from shaking the box, learning how to feel the difference…," is deeply satisfying for him."If I can get it in just one or two tries, I'm very happy!"

What is a Labubu? And where can you buy one in Canada?
What is a Labubu? And where can you buy one in Canada?

National Post

time12 hours ago

  • Business
  • National Post

What is a Labubu? And where can you buy one in Canada?

Article content These days, they're all about viral online trends spanning toys and fan merchandise to novelty foods like Dubai chocolate, specifically targeting the Gen Z consumer. Article content 'We are a data business at our core. We happen to manifest as a retailer, but we are a technology and data company, and so we are tracking data, billions of data points on any given day to try to understand the demand in the marketplace so that we can catch the next big thing,' Kulkarni explains. 'So, over the last 30 years, we've been the first retailer to launch everything from memory foam bedding 20 years ago, before memory foam bedding was a thing, to remote control helicopters, to weighted blankets, to the latest toy sensation or beauty sensation.' Article content Using artificial intelligence to comb social media platforms for up-and-coming trends, Kulkarni says they're now able to 'catch trends' faster than ever. Article content That approach is what allowed Showcase to jump on the Labubu trend early through its ongoing toy partnership with Pop Mart. 'We are the main retailer of Pop Mart products, which include Labubu in Canada,' he says. Article content The Labubu toys at Showcase are priced higher than on the Pop Mart website (in stock for $129.99 on Showcase for the new Big Into Energy Labubu versus sold out and $37.99 on the Pop Mart website). Article content The price increase, according to Kulkarni, is due to the demand and shipping costs. 'We're doing everything we can to try to keep costs reasonable. But it is a difficult environment.' Article content The Showcase executive says new launches appear on their site about two weeks after they launch — and invariably sell out in minutes — on the Pop Mart site. Article content 'But the easiest way that we would recommend to our customers is to go to the local store and see what's available there, because the store receives new stock almost every day,' Kulkarni says. Article content Facebook Marketplace is another hub for Labubu resale. A search of the term yields dozens of resale posts ranging in price from $20 for a 'Lafufu' — the name bestowed on the fake versions of the trending toy — to $300 for a full set of six Labubu Big Into Energy toys. Article content As the hype around Labubus continues to grow — Kulkarni refers to the toys as a 'global sensation' — the demand for the products seems to show no sign of slowing down. Article content 'It rivals the biggest trends in toys over the past 30 years that we've seen,' he says. 'Whether it's Cabbage Patch Kids or Webkinz or Beanie Babies or Shopkins back in the day, or even Disney Frozen was a giant trend for us. Article content Article content

Hasbro cuts 3% of workforce
Hasbro cuts 3% of workforce

Yahoo

time13 hours ago

  • Business
  • Yahoo

Hasbro cuts 3% of workforce

This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. Hasbro has laid off 3% of its workforce, or around 150 employees. The toy company has been undergoing a turnaround effort, which includes a $1 billion cost-savings objective. 'We are aligning our structure with our long-term goals,' a Hasbro spokesperson said in a statement to Retail Dive regarding the cuts. The company recently stated that the Trump administration's tariff policies could result in layoffs. 'Ultimately, tariffs translate into higher consumer prices, potential job losses as we adjust to absorb increased costs and reduced profits for our shareholders,' CEO Chris Cocks said on a call with analysts in April. The toy industry in particular faces high exposure to levies because nearly 80% of toys imported to the United States come from China. The two countries last week reached an agreement that the U.S. would impose 55% tariffs on imports from China, and China would maintain a 10% duty. The deal is subject to final approval by President Donald Trump and China President Xi Jinping. Hasbro announced its turnaround plan, dubbed 'Playing to Win,' earlier this year. Goals include driving mid-single-digit revenue growth between now and 2027 and expanding its reach while delivering cost savings. 'Our new strategy is grounded in the key insights which will drive Hasbro's evolution into a modern play company: serving fans of all ages around the world at every price point, and meeting fans where they are playing, which is increasingly online,' Cocks said in February. The company has undergone other rounds of layoffs, including cutting around 1,000 positions, announced in January 2023, followed by another 1,100 announced later that year. Hasbro's Q1 revenue increased 17% year over year to $887 million, driven by 46% growth in its Wizards of the Coast and Digital Gaming segment. Recommended Reading Etsy to sell music gear marketplace Reverb Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

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