‘Didn't see it coming': Gen Z trend changes Aussie man's business overnight

News.com.au

20-05-2025

Less than a month ago, most Aussies didn't even know what a Labubu was, and now they're taking over and transforming one man's business overnight.
George Kozma, 38, owns the successful sneaker store Waves alongside his wife Olivia, and he is currently working non-stop to keep up with the demand of Labubus.
A Labubu is a fluffy toy monster accessory often used as a key ring. There are different types and special editions, and they have become collectable.
Everyone from Gen Z influencers like Sopha Dopha to PR maven Roxy Jacenko have been rocking the furry accessory.
Mr Kozma, a former security guard, isn't a stranger to jumping on trends.
He opened his sneaker store Waves just before the peak of the sneaker hype and, by 2022, the store had netted over $10 million in sales in a single year.
He has always had a keen eye for trends, but even he didn't anticipate the demand for Labubus.
They are a controversial accessory.
Some influencers have embraced them, some people are claiming they are the height of fashion, and others are offended by their gaudy nature and find them cringe-worthy, but there's certainly demand.
Ms Jacenko is a massive fan because she loves the buzz and excitement around securing a limited edition product.
'I have always been partial to plushies and figurines as a kid, I collected everything from Astro Boy to Troll Dolls,' she told news.com.au.
'The obsession with Blythe Dolls started – this was just the 2025 version I guess – and the harder it is to get, the more I want it!'.
Young people in particular are prepared to literally line-up outside stores just in hopes of securing one.
Mr Kozma was ahead of the trend.
He has been selling the accessory since December 2024, but the demand has exploded in the last month.
He was fast to catch-up and immediately called suppliers, asking to secure as many of the products as he could.
'It really exploded. The US market picked up on it, you even had basketball players rocking up to game days with them,' he told news.com.au.
Mr Kozma could not anticipate the demand. In the last month alone, he has sold over 1000 boxes of Labubus.
One box contains six Labubus, so over 6000 Labubus were sold, and if he had more stock, he'd have sold more.
'We didn't see it coming,' he said.
'It was just overnight. What is going on here? Everyone was doing unboxings, Aussie influencers, US influencers,' he said.
Online, the trend has gone nuts. There are over a million posts about the flurry of accessories on TikTok, and videos of influencers unboxing them are attracting millions and millions of eyeballs.
Mr Kozma said the demand is so big that he hasn't even needed to gift them to influencers; instead, they're buying them because they're just like everyone else and desperate to jump on the trend.
He claimed that if you've seen an Aussie influencer rocking Labubus, there's a high chance they've purchased the toys from him.
There's also no need to try to market Labubus to consumers; the demand is there, and people are desperate.
The businessman said that the trend has come just at the right time for his sneaker store and has been a huge win.
'Because of the resale sneaker market, things aren't the strongest at the moment, so this has turned our whole business around, and they call me the Labubu dealer,' he said.
Mr Kozma said some consumers are willing to pay over $600 for special edition Labubus and he had a woman recently spend $3000 on one Labubu order.
It is retail madness, but it has put a spring in Mr Kozma's step, who is enjoying the excitement and demand.
'I already had a successful business but this takes it to another level. It is crazy at the moment,' he said.
'I did think it would pick up, but it was just 'bang', and then everything went bananas.'
Mr Kozma said it has added millions in value to his business, and he is already seeing the shift in revenue.
'In the last three weeks, I've sold like half a million dollars in Labubus,' he said.