Labubuis getting bigger than ever, which is why it’s no surprise that a life-sized figure of the collectible monster just sold for $170,000 at an auction taking place in Beijing.The Monstersand Labubu have been growing in popularity ever since their collaboration with Pop Mart in 2019. With major celebrities like Blacpink’s Lisa showing some love for the growing franchise, it was only a matter of time before it hit critical mass.
Now, according to a report byNBC News, the 4-foot mint-green figure sold at an auction dedicated to merchandise based on the character. The plastic figure is one-of-a-kind, certainly adding to its mystique. All 48 of the items up for bidding sold, resulting in an overall haul of around $520,000. Given the rousing success of the auction, it should come as no surprise that the organizer, Yongle Auction, has already announced plans to conduct further auctions based entirely around the growing trend.
So Wait, What is Labubu?
The New Chinese Mascot Character Explained
Created in 2015 by artist Kasing Lung, Labubu is a brand of collectible monsters inspired by Nordic legends. Though Labubu is the name of the brand, technically only the series' main character is named Labubu, with other members of his group just collectively known as Monsters. Labubu merchandise is often sold in blind boxes where customers aren’t sure what they’ll get. With ultra-rare figures sprinkled into releases, this adds to the brand’s collectibility, similar to how gacha mobile games work.
Labubu is so popular that it actually generated around $870 million in sales for Pop Mart in the first half of 2024, according to the retail giant’s own metrics.
Though the figures might look odd to many, the strange design is undeniably part of the appeal. Far from the straight-up cute look of international icons like Hello Kitty or Mickey Mouse, there is something devious-looking about Labubu, adding to the brand’s charm. The unique visual design, combined with the star power of having celebrities like Lisa and Rihanna buy into the trend, has helped the brand explode in popularity.
Labubu’s Future Has Never Looked Brighter
Key Collaborations Are Making the Brand Massive
In addition to Labubu’s own strengths, the franchise is also getting a big boost from its collaborations. Labubu has collaborated with the likes of Coca-Cola and has even had a display in the Lourve titled “Labubu’s Artistic Quest”. Perhaps the crown jewel for Labubu crossovers, though, is itsOne Piececollaboration. This line, released in 202,5 reimaginedOne Piece’sStraw Hat Pirates as Monsters. Given thatOne Piece’s anime recently returned, the collaboration seems well-timed.
While brands likeHello Kitty and Pokémon remain the biggest in the worlddue to their merchandising of cute characters, Labubu might be a serious competitor. $170,000 for one life-sizedLabubumight seem like a large amount to many, but future auctions could promise even larger sums if the character continues on his current trajectory.
