
Bye‑Bye Labubu? The rise and fall of the wide-eyed doll collectible
At peak, Labubu dolls weren’t just collectibles, they were emotional currency. Every social feed served unboxing after unboxing of pastel creatures with wide grins and rabbit-like ears. Blind-box drops emptied in minutes. On resale platforms, rare versions sold for thousands. Pop Mart’s IPO soared near US $1.8 billion, and its mid‑2024 revenue from “The Monsters” IP reached ¥6.3 billion (US $870 million). […]