The fabulous story of the monstrous success of Labubu, the Chinese elf
More than just a toy, the Chinese figurine has become a collector's item, thanks to Dua Lipa, Rihanna, and other influencers who love the unboxer. Its manufacturer, Pop Mart, is outselling Hasbro and Mattel on the stock market. The Financial Times traces the plush's meteoric rise, crushing Barbie and Lego with special editions, organized stock shortages, and auctions.
[This article is from the Courrier ados supplement , offered with issue 1812-13-14 of Courrier international , on sale from July 24 to August 13, 2025]
A stuffed elf sparks store fights, transforms a Chinese company into one of the world's most valuable toymakers, rakes in annual sales of nearly $2 billion [€1.7 billion] and signals a rare globalization for a Chinese brand.
In the space of a year, the popularity of Labubu, the monstrously cute figurine sold by the Beijing-based Pop Mart, has exploded. Clashes have broken out in stores over the palm-sized plush toys, with some selling for up to three times their price on the secondary market.
They fuel a steady stream of videos on TikTok and lead to huge queues outside Pop Mart stores in Paris and Los Angeles. Celebrities like Dua Lipa, Rihanna, and Lisa, from the K-pop group Blackpink, have made the demonically grinning creature a handbag accessory.
Labubu is one of the few Chinese brands to achieve global recognition. Pop Mart's $40 billion market capitalization is more than twice that of
Courrier International
