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Labubu: The Billion Dollar Collectable

You’ve seen it on TikTok. You’ve seen it on StockX. You might’ve even seen it on Hailey Bieber. Labubu, the mischievous art toy from Hong Kong, has become one of the most sought-after collectibles in the world. This week, we’re breaking down how a spiky-eared forest creature generated almost $2 billion in sales, took over global fashion, and turned Pop Mart into a cultural powerhouse.
This week in pop culture & business
SAG AFTRA and the video game industry end strike
SAG-AFTRA has reached a tentative agreement with major video game companies, potentially ending a long-standing standoff over voice and performance actor rights in gaming. The deal includes significant gains for performers, such as wage increases, protections around AI usage, and improved health and safety standards on set. If ratified, the agreement would bring stability to a booming industry that increasingly relies on high-quality performances to drive blockbuster titles.
The NCAA will pay $2.8 billion to thousands of college athletes who competed since 2016.
In a historic shift for college sports, the NCAA has agreed to a $2.8 billion settlement that paves the way for schools to directly pay student-athletes for the first time. The deal resolves several antitrust lawsuits and marks a dramatic transformation of the amateurism model that has defined college athletics for over a century. Starting as early as the 2025-2026 academic year, schools will be allowed to share a portion of revenue (potentially up to $20 million annually) with athletes, fundamentally changing the business of college sports.
Disney and Universal files lawsuit against Midjourney
Disney and Universal are at the center of a groundbreaking lawsuit involving AI art platform Midjourney, which allegedly allowed users to generate copyrighted characters like Mickey Mouse and Minions without permission. The studios argue that Midjourney’s AI tool enables mass-scale infringement, raising major questions about the legal boundaries of AI-generated content. This case could set a precedent for how copyright law applies to artificial intelligence and reshape the creative and legal future of entertainment and tech.
Mattel and OpenAI partner to develop AI-powered toys
Mattel has announced a partnership with OpenAI to bring generative AI capabilities to some of its most iconic brands, including Barbie, Hot Wheels, and American Girl. The collaboration aims to create new kinds of interactive products and experiences by blending Mattel’s storytelling legacy with OpenAI’s advanced technology. While specific product details haven’t been revealed, the move signals a major step toward integrating AI into the future of play and toy innovation.
The Marvel Cinematic Universe: Building and Rebuilding the Biggest Franchise in Film

If you’ve walked past a designer toy store, scrolled through TikTok, or peeked into hype culture recently, you may have noticed a mischievous little creature with spiky teeth and big ears popping up everywhere. Its name? Labubu.
Created by Hong Kong-based artist Kasing Lung and produced by designer toy powerhouse Pop Mart, Labubu has quietly become one of the most coveted collectibles in the world blending streetwear aesthetics, emotional storytelling, and the booming art toy economy.
But how did a slightly creepy, slightly cute forest creature go from niche art circles to global obsession? Let’s break it down.
What (Exactly) Is Labubu?
Labubu is the breakout star of The Monsters, Kasing Lung’s surreal universe of whimsical, storybook-inspired creatures.
It blends cute and creepy — wide eyes, jagged grin, tall ears — evoking both innocence and menace. That emotional tension is part of its appeal. Labubu feels like a relic from a childhood dream you forgot you had.
In 2025, there are now 300+ official Labubu variations, from mini blind boxes to 1.3-meter showpieces, often dropped in limited quantities or regional exclusives.
Labubu by the Numbers
The business around Labubu is massive and still growing:
Pop Mart revenue (2024): $1.81B USD, up 107% YoY
Net income: $427M USD, up 188% YoY
Labubu-driven sales: $419M USD, accounting for 23.3% of Pop Mart’s total revenue
Resale market: Rare figures routinely fetch $500–$2,000+
Auction record: 1.3m-tall human-size Labubu sold for $150,000
StockX activity: Over 25,000 trades/month, with demand up 7000% YoY
These are not just toys. They’re art assets with global liquidity.
Cultural Takeover: From Asia to the World
Labubu’s rise is being fueled by a mix of celebrity cosign, scarcity marketing, and aesthetic versatility.
K-pop endorsements: Lisa from BLACKPINK, RIIZE, and other idols show off rare pulls
Western fashion crossover: Seen with Hailey Beiber, Simone Biles, and Lizzo
TikTok traction: 1.2M+ tagged posts with #Labubu
Retail expansion: Flagship stores and vending machines across Seoul, London, Paris, and NYC
Fashion collabs: Labubu x Levi’s, Harrods, Coca-Cola, and more in 2025
It’s not just an art toy. It’s a cultural object.
Why Labubu Works in 2025
The Labubu craze isn’t random. It taps into multiple powerful trends:
Nostalgia with edge – Childhood wonder with a subversive twist
Collectibility over functionality – Objects prized for their story, scarcity, and vibe
Physicality in a digital world – Labubu is tangible, personal, and Instagrammable
Fashion adjacency – It’s styled like a hype item, not a children’s toy
Emotional design – The character feels alive, layered, and oddly relatable
This is where Be@rbrick meets KAWS meets Studio Ghibli with stronger emotional resonance.
From Toy to Status Symbol
Labubu is now more than a collectible. It’s a cultural index. A mood board mascot. A flex that signals taste, global awareness, and nostalgia fluency.
And in a post-algorithm world where owning something real, rare, and meaningful matters more than ever, Labubu is proof that story-driven IP can still go viral without needing a screen, a storyline, or a soundtrack.
In 2025, the most powerful character in pop culture might not say a word. It just smiles with teeth.
Curated Vibes
Song of the week: “Won’t Stop” by Gunna
Apple Music
Spotify
Movie of the week: The Phoenician Scheme
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