Labubu billion-dollar fever

In recent months, Labubu has become a sought-after figure among young people and a hot keyword searched on social networks.

After a photo of Lisa (Blackpink) "unboxing" the Labubu character collection, items related to this rabbit quickly "sold out".

According to The Nation Thailand, all Labubu-related products on the website are constantly out of stock, buyers can only buy second-hand from groups or find used items.

In Vietnam, Labubu trading and buying groups have more than 80,000 members, active every day.

Limited editions such as Vans, Catch me, Love me, Time to Chill... are also sold through auction, with starting prices of millions of dong.

Some individual models are also priced at 300,000 - 1,000,000 VND depending on the version and year of release. Not only are plastic models in high demand, items such as teddy bears and Labubu key chains are also popular.

Lisa, Rosé and many famous stars use Labubu keychains as handbag accessories, making the uses of these toys more diverse and attractive to young people.

Before the "billion-dollar" fever that Labubu brought, the debate about the uses, values, and costs of art toys was also heatedly discussed.

While many young people are "crazy" about Labubu, some say it is an expensive hobby, does not bring much value and is just a trend.

Labubu created a fever after Lisa posted it on her personal page. Photo: Instagram

Art toys, also known as designer toys, originated in the 1990s in Hong Kong, China. Created by artists, these toys are produced in limited quantities, causing their prices to skyrocket.

The appeal of art toys is growing, considered by many to be a form of art. Companies, including Pop Mart, are constantly improving their designs, launching beautiful collections.

The turning point of this toy line was the appearance of the blind box. The blind boxes would be wrapped in many layers, and the player would not know what model they had chosen until they opened it.

A collection usually has 12 models, if bought individually, the buyer will choose any blind boxes to own the toys randomly.

From that foundation, another form was born called "secret" - secret model. Secret items are designed with completely different colors and shapes, with a random chance of winning only about 0.52%, always a very rare model and sought after by many people.

Before Labubu, the art toy phenomenon was called Be@rbrick. Initially created as a mascot to celebrate the 2001 World Character Convention, Be@rbrick later became an expensive toy sought after by collectors.

Every year, two new Be@rbrick collections are launched, in collaboration with celebrities or luxury brands.

The plastic bears are so sought after that they command sky-high prices. In Thailand, the most expensive Be@rbrick model is Yue Minjun 'Qiu Tu' 1000%, which was auctioned for 181 million baht (131 billion VND).

"Art toys are not models for children, but collectibles," said Mr. Wang Ning, CEO of Pop Mart.

The cost of owning a rare art toy and their sophistication and meticulousness show that these toy models can be compared with other luxury collectibles such as watches, handbags, shoes...

These toys are escaping traditional showrooms, making them more accessible and appealing to a younger generation of "collectors," according to Grit Daily.

The commercial appeal and cultural promotion of this collecting phenomenon has shown the great potential of art toys, when toys become a hobby for adults.

Source: https://laodong.vn/giai-tri/con-sot-tien-ti-labubu-thoi-thuong-va-ton-kem-1382592.ldo