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Blind Boxes, those mysterious boxes containing exciting surprises, have become a gateway for many to the world of art toys. Although art toys have been present in Vietnam for a long time, it's only in recent years that the art toy market has truly boomed and become a sought-after trend among young people. From a relatively quiet market, art toys have become a cultural phenomenon, creating a vibrant and diverse community.
The "Lisa Effect" created an unprecedented craze for Labubu and the Pop Mart brand. Images of the adorable Labubu rabbits flooded social media platforms, becoming a trend enthusiastically embraced by young people. Thanks to this, Pop Mart solidified its position as one of the world's leading toy brands.
The return of the toy empire with a "billion-dollar" craze.
Labubu, the "monster rabbit," was created by Hong Kong artist Kasing Lung in 2015. It possesses a unique appearance with long ears, sharp teeth, round eyes, and a mischievous smile. At first glance, Labubu could hardly be called cute or beautiful by conventional standards. However, its unique personality and humor create a distinct appeal, making this "monster rabbit" stand out and attract attention.
The charismatic member of BLACKPINK actively promoted this toy, contributing to its global trend.
In 2015, Labubu joined POP MART's art toy lineup. There, Labubu received a new, rounder, and cuter look, winning the hearts of many fans. Initially, Labubu was created for display, decoration, and to satisfy the collecting passion of art toy enthusiasts. However, in early 2024, the "rabbit monster" unexpectedly broke free from the boundaries of art toys, entering the colorful world of fashion.
In April 2024, Lisa, a hugely popular member of the girl group BLACKPINK, posted several photos of herself holding a Labubu plushie on her personal Instagram. She also showed off her new collection and excitedly showed off how it matched her outfits. According to The Nation Thailand, just one moment of Lisa hugging the Labubu plushie caused the price of the toy to skyrocket by 400%. Labubu-related items sold out in a short time.
Young people love novelty, seek out limited editions, and don't want to miss out on trends. Therefore, they are willing to invest time and money to conquer them.
On social media, audiences also created a trend, searching for and buying bears similar to the one Lisa is holding. Labubu's appeal, combined with Lisa's influence, has made young people "crazy" about these sharp-toothed rabbits. The Nation Thailand reported that the Tourism Authority of Thailand has partnered with the Chinese toy company Pop Mart (the manufacturer of Labubu merchandise) to bring Labubu models to Thailand to promote tourism and cuisine.
In particular, its widespread popularity on social media platforms like TikTok, Facebook, and Instagram has made Labubu a sensation among young people. Many Vietnamese celebrities, KOLs, and KOCs have even posted pictures and videos of themselves owning this toy, sparking even more curiosity and interest in purchasing it.
The "Rabbit Monster," created by Hong Kong artist Kasing Lung in 2015, boasts a unique appearance with long ears, sharp teeth, round eyes, and a mischievous smile.
Furthermore, many people are now hunting for Labubu by playing raffles via livestream. In this method, players (around 10-20 people) bet 55,000-150,000 VND, depending on the shop's requirements. Then, the shop conducts a draw to determine the lucky winner who gets Labubu, sometimes even a limited edition version. Therefore, to satisfy their desire to win, many young people have spent millions of VND to hunt for the "rabbit monster" this way.
However, it is precisely this unique personality and sense of humor that creates its distinct appeal, making this "monster rabbit" stand out and attract attention.
Despite the exorbitant prices, the products are still selling out.
According to surveys, the range of products related to Labubu is quite diverse, including figurines, plush toys, keychains, phone cases, and printed bags. Official prices range from 200,000 VND to over 20 million VND per product.
According to data from Metric – an e-commerce market data analytics platform – Labubu-related products generated nearly 5.2 billion VND in sales on Shopee, Lazada, and TikTok Shop in the second quarter, a 665% increase compared to the first quarter of the year.
This represents a significant surge in growth, given that art toys have been a hot product in recent months.
Specifically, in the second quarter, on TikTok Shop, 43 shops recorded total revenue of over 3 billion VND from selling 145,129 products related to this toy, an increase of 2,786% compared to the first quarter. Meanwhile, on Shopee and Lazada, 116 shops sold 19,500 Labubu-related items, bringing in 2.2 billion VND, an increase of 278% compared to the first quarter.
Beware of bargain prices, or you might end up losing money and getting a bad product because of counterfeit goods.
Taking advantage of people's desire to acquire Labubu, many scammers have started to get involved in buying and selling transactions, aiming to swindle money from customers. Many victims have taken to social media to expose these scams and warn other users about the fraudulent tactics.
While buying Labubu online offers convenience and more choices, it also carries risks. The hunt for rare Labubu specimens can easily tempt many with cheap offers and unique items, leading to the purchase of counterfeit or low-quality goods. Therefore, when shopping online, you need to be extremely vigilant, carefully checking product information and the seller's reputation to avoid losing money and getting a defective product.
