Adorable or just weird? How Labubu dolls conquered the world
Some analysts seem surprised that Chinese companies - from EV makers and AI developers to retailers - are so successful despite Western unease over Beijing's ambitions.
"BYD, DeepSeek, all of these companies have one very interesting thing in common, including Labubu," Chris Pereira, founder and chief executive of consultancy firm iMpact, told BBC News.
"They're so good that no one cares they're from China. You can't ignore them."
Meanwhile, Labubu continue to rack up social media followers with millions watching new owners unbox their prized purchase. One of the most popular videos, posted in December, shows curious US airport security staff huddling around a traveller's unopened Labubu box to figure out which doll is inside.
That element of surprise is a big part of the appeal, says Desmond Tan, a longtime collector, as he walks around a Pop Mart store in Singapore vigorously shaking blind boxes before deciding which one to buy. This is a common sight in Pop Mart.
Desmond collects "chaser" characters, special editions from Pop Mart's various toy series, which include Labubu. On average, Desmond says, he finds a chaser in one out of every 10 boxes he buys. It's a good strike rate, he claims, compared to the typical odds: one in 100.
"Being able to get the chaser from shaking the box, learning how to feel the difference…," is deeply satisfying for him.
"If I can get it in just one or two tries, I'm very happy!"
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