In recent months, Labubu has become a sought-after figure among young people and is a hot keyword searched on social networks.
After a photo of Lisa (Blackpink) "unboxing" the Labubu character collection, items related to this bunny quickly "sold out".
According to The Nation Thailand, all Labubu-related goods on the website are constantly out of stock, buyers can only buy them from groups or find used items.
In Vietnam, Labubu exchange and trading groups have more than 80,000 members, active every day.
In particular, limited editions such as Vans, Catch me, Love me, Time to Chill... are also sold in the form of auction, with a starting price of millions of dong.
Some retail models also cost 300,000 - 1,000,000 VND depending on the version and year of launch. Not only plastic models are popular, items such as teddy bears and Labubu keychains are also popular.
Lisa, Rosé and many famous stars use Labubu keychains as handbag hanging accessories, also making the uses of these toys more diverse and attractive to young people.
Before the "billions" fever that Labubu brought, debates about the uses, value, and cost of art toys were also hotly discussed.
While many young people are "crazy" about Labubu, there are opinions that this is an expensive hobby that does not bring much value or movement.
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, notably Pop Mart, were born and continuously improved designs and launched beautiful collections.
The turning point of this toy line was the appearance of the blind box. The blind boxes will be multi-layered, and players will not know which model they have chosen until they open it.
A collection usually has 12 models. If buying individually, the buyer will choose any blind box to randomly own the toys.
From that foundation, another form was born called "secret" - secret model. The secret item is designed with a different color and shape, 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, Be@rbrick was created as a mascot to commemorate the 2001 World Character Conference, then became an expensive toy sought after by collectors.
Every year, two new Be@rbrick collections are launched, in collaboration with celebrities or luxury brands.
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%, sold at auction for 181 million baht (131 billion VND).
Mr. Wang Ning, CEO of Pop Mart, once said: "Art toys are not models for children, but collector's items."
The cost of owning a rare art toy and their sophistication and meticulousness show that these toy models can compete with other luxury collectibles such as watches, handbags, shoes...
According to Grit Daily, these toys break away from traditional showrooms, making them more accessible and appealing to a younger generation of "collectors."
The commercial and cultural appeal of this collectible phenomenon has shown the great potential of art toys, as toys become a hobby for adults.
