Labubus are a hit: Here’s how much the man behind the dolls has made

The Labubu craze has gone global.

Although these bizarre little dolls first hit the market in 2019, their popularity has skyrocketed, leading the company behind the toy to rake in substantial profits.

The plush was designed by Kasing Lung, an illustrator who conceived the idea of the funky little monsters years ago. Labubus are produced and sold by the Chinese company Pop Mart, though a large imitation market has emerged as the toys have gained popularity.

Nevertheless, Pop Mart has made millions from Labubus, which uses an innovative blind packaging model—meaning you never know which doll you’re purchasing. The CEO of Pop Mart, Wang Ning, has become one of China’s youngest billionaires with an estimated net worth of $21.1 billion. Much of his wealth is based on his significant stake in Pop Mart, of which he owns 48.7 percent, as reported by Lifestyle Asia.

Liza Corsillo of The Strategist traced the origins of the Labubu trend, linking the initial hype to Lisa, a member of the band Blackpink, who was seen with a Labubu in 2024.

The Labubu origin story

But the history of Labubu dates back to 2015, Corsillo explains. Kasing Lung, who grew up in the Netherlands, was inspired by Nordic mythology and began incorporating features of those mythical monsters into his work. In 2015, Lung published The Monsters, a series of graphic novels that, as Corsillo puts it, featured “toothy creatures” that “became the basis for the Labubu toys you can buy today.”

Pop Mart took note of the graphic novels and the quirky characters, signing a deal with Lung in 2019 to begin producing the dolls using the blind box method to add intrigue for customers. Though a successful business model, it can be frustrating for parents when their kids have their hearts set on a specific Labubu—only to discover there’s a slim chance it’s hidden inside the packaging.

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