Particle.news
Download on the App Store
5 ARTICLES
·
last wk.

Labubu Craze Intensifies with Record Online Pre-Sale and State Media Censure

Resale values are cooling after six-figure auction results, prompting scrutiny of Labubu’s long-term market appeal.

© Pop Mart
On June 18, Pop Mart in China launched the largest online pre-sale to date for Labubu 3.0.
LABUBU EFFECT
Labubu

Overview

  • Pop Mart’s largest online pre-sale to date sold out in minutes, with collectors lining up virtually for blind-box Labubu releases.
  • Chinese state media has criticized the phenomenon as a frivolous example of 'emotional luxury' and urged restraint in consumer spending.
  • Secondary-market prices, which briefly peaked with a mint-green Labubu fetching over $170,000, have since pulled back as buyer enthusiasm softens.
  • The company is broadening its global footprint with new stores in Japan, an updated UK lottery system and themed drops like the food-inspired ‘Wacky Mart’ collection.
  • Labubu’s blind-box scarcity model and celebrity endorsements fueled Pop Mart’s $1.8 billion 2024 revenue surge and elevated founder Wang Ning to billionaire status.