There’s a new highly-coveted collectible that’s turning heads – and causing some confusion. Labubu is a brand of designer plush characters based off of storybook characters created by children’s book illustrator Kasing Lung. He was born in Hong Kong and moved to the Netherlands at an early age. While there, he became interested and influenced by local folktales. Lung’s fascination led to a series called “The Monsters” which inspired what we now know as the rabbit-eared Labubu. The creatures have been spotted around the world, clipped onto bags as fashion accessories or proudly displayed as artwork. But there is also debate about their appeal. Many find their sharp toothed-grin offputting while others, like Rihanna and Lisa from the K-pop group Blackpink, have sported the impish accessories. Labubu figures have been available since 2019, but it wasn’t until recently that they surged in popularity. Buying blind Pop Mart, the Beijing-based company behind the critter craze, is well known for selling ‘blind boxes,’ meaning consumers don’t actually know what they are getting until buying the item and cracking open the packaging. Although it is possible to buy individual Labubu figures, most hope for the best by making a blind purchase. “It doesn’t matter if you’re a kid or if you’re a grown adult with your own money,” Jing Wan, associate professor of marketing at the University of Guelph, said. “What is appealing is the element of surprise, that every purchase is a bit of a gamble.” Online streamers have also hopped on the trend and hosted livestreams where they open boxes and bags in the hopes of unveiling a rare variant to a captivated audience. “Even though we might not think of these purchases as gambling per se, you’re still spending money buying in uncertainty,” Wan said. “You’re buying a probability. You describe that excitement of unboxing right in that moment. You don’t know what’s in there, but you know that there is a chance there’s something you really want.” Building excitement The excitement of the unknown is nothing new. For years, content creators have posted videos opening packs of Pokemon cards in hopes of finding something rare. In the 2000’s, Hatchimals also had a line of blind box products that retailers struggled to keep on store shelves. “I think the allure of blind boxes and mystery bags will stick around,” Dan Maheux, owner of B&K Collectibles in Kitchener, Ont., said. “Whether or not they’re going to be specifically for Labubus, I can’t say that as much.” The thrill and potential disappointment is part of the process. “As soon as you open it, that sense of excitement rushes through you and even if you don’t get the one you wanted, the anticipation, the excitement, the hope will still reinforce you, [and] make you want to do it again,” Wan said. For people who aren’t willing to take the risk, Labubu products are available through resellers and third-party marketplaces. But experts urge caution as knockoffs, sometimes known as ‘Lafufus,’ often plague online catalogues.
