China's viral Labubu toy has unlikely fan — ruling Communist Party
A Labubu figure and stickers are seen at a Pop Mart shop in Beijing, China, June 12. AFP-Yonhap
As Chinese companies ponder how best to market their products internationally, the example set by Pop Mart — the Beijing-based brand behind the viral Labubu toy — has been praised by the country's state media for the creativity that underlies its success.
The wide-mouthed, bug-eyed toy's global fan base is evidence of a shift in priorities for China as it transforms from a producer of low-value goods to a hub of innovation, Qiushi, the Communist Party's top theoretical journal, said in a commentary piece published on Wednesday.
With original Chinese intellectual property capturing global attention, the country, traditionally known as the world's factory of low-end toys, "has cultivated a robust innovation ecosystem" and "is increasingly serving as a global incubator where seeds of creativity are sprouting everywhere," the article said.
Pop Mart, which is listed in Hong Kong, collaborates with a range of artists and designers to produce toy characters including Molly and Dimoo. Labubu, its most popular product by far, was designed by Hong Kong-born artist Kasing Lung.
The company said its overseas and Hong Kong-Macau-Taiwan revenue rose 375 percent last year to 5 billion yuan ($695.5 million), accounting for nearly 40 percent of its total revenue.
Likening Labubu's success to other globally acclaimed Chinese products including the blockbuster video game Black Myth: Wukong and the animated film Ne Zha 2, the Qiushi commentary said: "Labubu's popularity is a vivid testament to Chinese companies' commitment to long-term innovation and the growing global recognition of Chinese creative products."
People look at collectable designer art toy Labubu at a Pop Mart pop-up store in Siam Center shopping mall in Bangkok, May 6. AFP-Yonhap
The plush toy has been so popular that it has spawned a wave of counterfeit products, known as "Lafufu" — with the f standing for fake. On social media platforms such as YouTube, Instagram and TikTok, "How to tell a Labubu from a Lafufu?" has become a viral topic.
In Dongguan, a manufacturing hub in southern China, some factories producing knock-offs say they are struggling to keep up with demand.
A couple have production backlogs due to the overwhelming number of Lafufu orders, Yicai, a business newspaper based in Shanghai, reported earlier this week.
The factories produce two types of replicas, which sell for under 20 yuan or 38 yuan — depending on the level of verisimilitude — compared with the official 99 yuan price for a 17cm-tall authentic Labubu plush.
In Yiwu, a global hub for small commodities in eastern China, counterfeits that have drawn the attention of the authorities have reportedly been "removed overnight."
Responding to controversies over Yiwu-made knock-offs, an official from the local market supervision administration told the Jiupai News app that businesses producing or selling Labubu dolls must have official authorisation, and that the administration maintained a strict stance against counterfeits.
But some Yiwu businesses have found a lucrative legal workaround: producing independently designed accessories and clothing for Labubu — or Lafufu — dolls.
One woman said her factory, which employed 600 to 700 workers and produced 20,000 to 30,000 items a day, had no inventory left in stock due to soaring demand in Europe and the United States, the Qianjiang Video news app reported last week.
She said her business had expanded to three storefronts at Yiwu International Trade City, up from just one three months ago.
Read the full story at SCMP.