India’s Labubu Obsession: How a Creepy-Cute Doll Sparked a Collectibles Revolution

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India’s Labubu Obsession: How a Creepy-Cute Doll Sparked a Collectibles Revolution

If you're an Indian with even a passing relationship to Instagram, chances are you’ve stumbled across a Labubu. Maybe it was in an influencer’s unboxing reel, dangling off a designer handbag, or nestled in someone’s curated #shelfie. But what might seem like a niche internet fad is anything but — Labubu has become a global sensation, and in India, it’s driving an unexpected collectibles boom.

A Labubu is a character from the Monster series created by Hong Kong artist Ka-Sing Leung. With its oversized ears, wide eyes, snaggle-toothed grin, and mischief-meets-macabre vibe, Labubu looks like something between a gremlin and a greeter at a goth-themed Build-A-Bear.

But don’t let the toy’s cartoonish appearance fool you — this isn’t child’s play. Labubus are collectible art toys manufactured by Chinese pop culture giant Popmart, and they’ve triggered a frenzy among adult buyers, including celebrities like Rihanna, Kim Kardashian, and David Beckham.

The Cult of Collectibility

Unlike traditional toys, Labubus are part of the “blind box” ecosystem — buyers don’t know exactly which version of the toy they’ll get until they open the box. This element of surprise, combined with limited releases and scarcity-driven pricing, has turned these toys into status symbols.

Prices range wildly. A basic Labubu might cost ₹3,000–₹5,000, but rare editions have fetched as much as ₹1.2 crore (USD 145,000). Think that’s crazy?

Why Is India Obsessed?

The Indian wave of Labubu mania started picking up around May 2024, fueled by global influencer posts and strategic seeding by resellers. Initially, demand was concentrated in metro cities — Delhi, Mumbai, Bangalore — but it’s now spread to Tier-2 and Tier-3 towns, from the Northeast to Kanyakumari.

But it’s not just the “cool crowd” driving the demand. According to resellers, 80% of buyers are women, mostly aged 18–24. This marks a shift in India’s collectibles landscape, traditionally dominated by male sneakerheads and trading card collectors. With Labubu, women have become the majority consumer base for a premium collectible for the first time.

The Popmart Playbook

Behind this global craze is Popmart, a Beijing-based company that started out selling comics and phone accessories in 2010. But founder Wang Ning saw the opportunity in designer toys early on. After launching Molly — its first breakout character — the company doubled down on licensing, marketing, and supply chain mastery.

Labubu was the game-changer. Since Popmart’s IPO in Hong Kong in 2020, its stock has soared over 500%. It now sits comfortably at the center of China’s "new consumer economy," where fandom and scarcity are just as important as product quality.

Popmart’s strategy is classic demand engineering: limit supply, tease exclusives, roll out high-design collabs, and let the internet do the rest. Once Rihanna was seen with a Labubu in February 2024, followed by Kim Kardashian, Dua Lipa, and Beckham, the global tipping point was inevitable. In India, that celebrity buzz trickled down to influencers, leading to a full-blown viral explosion.

Inside the Indian Resale Scene

Two names that dominate the Indian Labubu resale market today are Nikhil, one of the first sellers to bring the toy to India, and Abbas Zaveri, founder of Hypefly, a luxury streetwear and collectibles marketplace.

Nikhil’s sales surged from almost zero to 25 Labubus a day, hitting 1,700 units in just a few weeks. Abbas, who once served mostly male sneakerheads, says 80% of Labubu buyers today are women, a total flip from traditional demographic norms.

He’s even had to deliver a Labubu via helicopter, and rush-ship 12 different versions to a Bollywood actor’s home in under 24 hours. Labubu isn't just a product — it's a full-blown logistics mission.

And it’s not just Labubu. The craze has lifted other Popmart lines like Skullpanda and Crybaby, which are now seeing increased demand in India.

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Fake vs. Fufu: Beware the Counterfeit Craze

Of course, popularity breeds imitation. The market has already seen a wave of fakes — or “Lafufus,” as resellers call them — that look like Labubus but aren’t. Nikhil explains that verifying authenticity is simple: use the scratch-and-scan barcode on the box to confirm it on Popmart’s official website.

Still, fakes reportedly make up 70–80% of the Labubu stock floating around India today — a sobering figure for buyers.

A Fad or a New Frontier?

Some see Labubu as a fleeting trend. But seasoned sellers disagree. They argue that Labubu follows the same trajectory as sneakers and trading cards — starting as a niche obsession, then maturing into a lasting market.

The difference? Labubu has hit broader demographics — especially young women, who were previously underserved in the collectibles space. And unlike most fandoms, this one isn’t just about passive admiration. It’s about ownership, identity, and inclusion in a global community.

With Popmart exploring international expansion and reportedly considering India-specific drops (a Labubu in a saree, anyone?), the potential for growth is enormous.

Final Thought: Belonging, Flexing, and the Rise of Adult Play

The Labubu phenomenon isn’t just about a doll. It’s about access, identity, and belonging. In a world where what you flex on your bag can say as much as what you wear, collectibles like Labubu offer a new kind of cultural currency.

And for Popmart founder Wang Ning — now one of China’s top 10 richest billionaires — it’s validation that adult play isn’t just a niche market. It’s a global movement.

The next time you spot a big-eared, grinning gremlin dangling from someone’s tote, remember: it's not just a toy. It's a symbol of a generation that’s willing to spend ₹5,000 for a little piece of hype. And maybe, just maybe, the start of India’s own collectibles gold rush.

Interested in learning more about Labubu? Check out our previous coverage here:

• Pop Mart’s Labubu Craze

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