Can the Labubu Doll Craze Survive Trump’s Tariffs?
Sales of the scary-cute collectibles doubled Pop Mart’s revenue in 2024. Now the Beijing-based toymaker is raising prices.
Illustration: Shira Inbar for Bloomberg Businessweek
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Ever since breaking her neck in a body surfing accident in 2024, Los Angeles-based TikTok creator Elle Horton has been on the hunt for hobbies that can’t hurt her. Recently she stumbled across an answer—sort of.
Since March, Horton has been posting about her growing collection of Labubu dolls, the uber-trendy furry characters from Beijing-based toymaker Pop Mart International Group Ltd. that sell for $15 to $960 depending on their size. In one video, Horton showed off four keychain-size Labubus—one in a sparkly gold cape, another holding a tiny Coke bottle—which she keeps dangling from her purses, as well as a stack of five unopened Labubu boxes. As it turns out, the new hobby “hurts my wallet,” Horton joked.