China 101
Labubu
Labubu
The snaggle-toothed elf character from artist Kasing Lung, sold by Pop Mart, whose plush charms became a global craze and a symbol of Chinese IP going worldwide.
Labubu is a mischievous elf-like character with pointed ears and nine serrated teeth, created by Hong Kong-born artist Kasing Lung as part of his Monsters series inspired by Nordic folklore. Pop Mart licensed the character in 2019 and sold it as figures and, fatefully, as plush bag charms.
The charms became a worldwide phenomenon after celebrities including Rihanna, Dua Lipa, and Lisa of Blackpink were photographed with them. Stores from Bangkok to London saw queues and instant sellouts, resale prices multiplied, and Chinese customs even reported waves of smuggled and counterfeit Labubu. The craze pushed Pop Mart's overseas revenue and stock price to record levels.
Labubu matters beyond toys: it is routinely cited as China's first truly global homegrown character IP success, a soft-power consumer story covered by international business press, and a proof point that Chinese companies can sell culture, not just goods.