Over the past few years, sales of Chinese toys have skyrocketed in the Asian market. “Made in China” was once only known as a brand linked to affordable substitutes for stylish accessories. In addition to being well liked in India and its surrounding nations, these mass produced commodities have become well known globally.
Labubu, a rubber coated plush character which was introduced in Asia earlier this year. According to the South China Morning Post, the Chinese made item is currently the “hottest toy” on the continent.
Labubu is unique from other soft toys due to its unique look and strange appearance. The goofy toy is available in several sizes and admirers have fallen in love with its sinister eyes, sharp ears and witty smile. China’s top store, Pop Mart is manufacturing the toy which was designed by artist Kasing Lung who was born in Hong Kong.
A lot of toy enthusiasts other than children have already included Labubu in their collections. Labubu is currently one of the best selling items at Chinese Pop Mart stores. For months people in Shanghai’s Xuhui neighborhood have been waiting to buy the toy.
In addition to China, Labubu has become more well liked in other Asian nations. A member of the well known K-pop group Blackpink was photographed holding a Labubu doll with a keychain back in April.
It has now grown to be one of Thailand’s top selling toys. Singapore and Vietnam are now joining the trend.
Pop Mart’s total revenue has risen by up to 125% in the past year because of Labubu. While mainland China’s revenue climbed by as much as 60%, sales from Hong Kong, Macau, Taiwan and other international markets increased by over 44%. This toy falls within their luxury category. The cost of a set of six Labubu figures is around 600 yuan (approximately INR 7000 and USD 82).
