This Chinese toy helped make 1.6 billion dollars in a day. Can you believe it?
That's how much the CEO of PopMart made because of this viral toy called Labubu. What started as a character inspired by Nordic mythology is now seen on luxury handbags carried by Rihanna, Lisa from Blackpink, and even Dua Lipa.
And in 2024 alone, Labugoo generated 3 billion yuan which turns out to be around 410 million dollars in revenue. But you know what the strange part is? Labugoo isn't even conventionally cute. Maybe that's exactly why people want it. Aesthetic psychology calls this semantic instability when something defies visual logic so your brain can't look away. That mental itch, it turns into obsession.
Also, they're sold in blind boxes so you never know which version you're getting until you've opened it. That randomness gives you a dopamine hit that keeps collectors hooked. Just like Pokemon cards. Now some Labugoo sell for over 2,000 dollars and the dupes have become so common fans are calling them LaFufus. Crazy, right?
PS : I am talking about this development because just today my Wife asked me to buy her some Labubu Dolls and I am shocked as to how she came across such knowledge as my Wife is not interested in that sort of stuff. So my natural thinking was that the Advertisement must have been so good that it also reached the feed of my Wife who stays away from such stuff.
