Created by Hong Kong Artist Kasing Lung, "Labubu"
Searches Up 517%, Saved Items Up 280%
The Chinese figure keyring "Labubu," which has gained explosive popularity after being introduced by Blackpink's Ros? and Lisa, is now being traded at high prices on domestic Chinese trading platforms.
Blackpink's Ros? and Lisa posted a photo taken with "Labubu" on social networking service (SNS). Screenshot of Ros? and Lisa's SNS
On June 7, Naver's limited-edition trading platform "KREAM" reported that searches for "Labubu" surged by 517% in May compared to the previous month. During the same period, the number of items saved also increased by 280%, indicating a dramatic rise in consumer interest.
"Labubu" is a character created by Hong Kong artist Kasing Lung. Its unique concept, which combines a scary yet cute appearance, has resonated with the "kidult" culture as well as the "Zalpha" generation (a portmanteau of Generation Z and Alpha). Additionally, explosive interest was fueled when Blackpink's Ros? and Lisa posted photos with Labubu on their social networking services (SNS). In particular, Ros? showed her affection by posing with Labubu in various ways and commenting, "It's so cute."
Another reason for the high prices on domestic limited-edition platforms is the difficulty in purchasing the product. POP MART, China's largest art toy company, sells the keyring, but it is sold out on the official domestic online store. POP MART operates eight offline stores in Korea, including locations in COEX and Yongsan, but purchasing is still difficult due to the influx of overseas resellers.
Additionally, POP MART sells the Labubu keyring in a "random box" format, where buyers do not know which figure they will receive until the box is opened. This feature has also contributed to its popularity on SNS as it has become the subject of video content. A culture of exchanging keyrings has naturally formed, spreading as both a game and a cultural phenomenon. Labubu is seen as a representative example where "ditto consumption" (purchasing products because one's favorite celebrity or influencer does), "kidult culture," and the trend of "decorating bags" have all converged.
Due to these characteristics and the buzz surrounding Labubu, products with higher rarity have become even harder to obtain, leading to premium prices on secondhand trading platforms. Some items have been traded for over 1 million won, drawing further attention. For example, the "The Monsters Highlight Series" released in April saw premiums of more than 200,000 won above the original price of around 20,000 won on KREAM.
POP MART has also seen a boost in sales thanks to Labubu's popularity. Although the company has not disclosed exact figures, last year, both domestic sales and operating profit increased nearly fourfold compared to the previous year.
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