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Marketing Lessons from Labubu
Labubu dolls have been around since 2015.
The cute, fanged toys were originally part of a story series rooted in Nordic fairy tales.
Labubus have become extremely popular of late – part “it” toy, part status symbol for celebrities and influencers.
Today, rare Labubus go for tens of thousands of dollars to collectors and investors.
But Labubu’s ascent didn’t happen overnight. It took a few shifts in strategy for the dolls to join the ranks of Cabbage Patch Kids and Tickle Me Elmos.
A Sales Strategy with Teeth
The first tactic was a partnership with Pop Mart, a Chinese toy retailer. It sells its toys in a “blind box” format via vending machines or online purchases in which customers don’t know exactly which character they’re going to get.
That “artificial scarcity” drives engagement with customers, especially Millennials and Gen Z. Like trading cards and other surprise toys before them, the uncertainty encourages repeat purchases from serious collectors.
It also introduces a sense of mystery and excitement into the buying (and unboxing) process. People are eager to share when they snag a rare Labubu.
More recently, the company started selling Labubus on key rings, which make them even easier to show them off.
It’s working. Pop Mart’s revenue doubled in 2024.
