Chalice Collectibles, a business well-known for selling Funko Pops, has seen a remarkable transformation over the past six weeks after introducing Labubu dolls to its inventory. The company placed an initial order of $8,000 for the whimsical figurines produced by Chinese toy manufacturer Pop Mart and has since experienced an explosive financial increase, generating $240,000 in monthly revenue. As demand surges, Chalice is now releasing the dolls in limited quantities during live streams to keep up with consumer interest.
Labubu dolls, which retail for $20 to $30 for standard editions and can reach up to $150,000 for rare pieces at auction, have become a viral sensation, partly due to their feature on social media platforms like TikTok. The figurines, with their Nordic-inspired design, were first launched in 2015 and have gained immense popularity after celebrity endorsements from figures like BLACKPINK’s Lisa and Rihanna. As Pop Mart aims to expand its presence in the U.S. by increasing its store count, Labubu’s success has been a significant contributor to the company’s impressive revenue growth, doubling to nearly $2 billion in the past year.
The rapid rise of Labubu has created a bustling secondary market, with consumers eagerly purchasing the dolls and sharing their experiences through social media, specifically on TikTok, where the #labubu hashtag has been used in 1.6 million posts. Collectors are utilizing various tactics to secure these trendy products, including calendar alerts for restocks and joining dedicated communities online to exchange tips.
However, the popularity of Labubu has also opened pathways for counterfeiting, as knock-off versions known as “Lafufus” have started showing up in the marketplace. Resale platforms like StockX and Whatnot are now diligent about authenticating Labubu dolls to ensure the integrity of their listings, employing thorough verification processes to combat the influx of fakes.
Chalice’s leadership recognizes the challenges posed by rising prices and counterfeit products, with plans to formalize a direct partnership with Pop Mart to secure a more consistent supply. As the Labubu craze shows no signs of slowing, collectors remain dynamic and engaged, eagerly awaiting new drops while navigating the world of collectibles.
The booming demand for Labubu dolls reflects an evolving culture around collectible items, driven by community engagement and celebrity influence. As the secondary market continues to thrive, it creates opportunities for both longstanding retailers and new sellers, possibly heralding a new era for niche collectibles in the mainstream market. With the holiday season approaching, Labubu products are likely to be at the forefront of this collectible trend.