World Business Report Doll-maker Labubu’s profits to rise nearly 400%
Aug 20, 2025
Harsh Pant, Head of Strategic Studies at the Observer Research Foundation, shares insights on the fascinating surge of Pop Mart's LeBubu dolls, which saw a 400% profit increase, outpacing iconic brands like Mattel. He discusses the unique design and marketing strategies that fueled this success. Pant also touches on the resumption of direct flights between India and China, and a tech company in Kenya promoting Bitcoin as a financial solution in one of Africa’s largest slums, highlighting innovative ways to enhance economic participation.
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Viral Momentum Drove Labubu's Rise
- Pop Mart's Labubu dolls became a global viral phenomenon driven by celebrity endorsements and social media momentum.
- The trend began in China post-pandemic and expanded internationally via platforms like TikTok and celebrity fandom.
Collector Spends Thousands On Labubu
- Collector Georgia spent three to five thousand dollars on about 25 Labubu dolls and treats them like children.
- She described finding many knockoffs and said she keeps rather than sells her collection.
Counterfeits Follow Rapid Popularity
- Fake Labubu knockoffs emerged quickly and customs have been seizing operations producing them.
- Rapid popularity created an entire secondary market of counterfeit products.