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KNOWDOCKS / CULTURE 001　Labubu's Ten Years
Fact-checked: 2026.10.01 · English edition · version 1.0
Original hand-drawn concept illustration: the picture book, handmade figures, and bag accessories appear sequentially on the same work desk
Hand-drawn concept artA three-step journey from book pages to bags. The characters in the illustration are original for demonstration purposes and are not the official image or historical works of Labubu.
Home／Pop Culture／How the characters went global
From picture books to global topics

Before the craze, Labubu had existed for ten years

How did this little spirit from a picture book end up on bags around the world?

Start from the beginning of these ten years ↓First look at the financial report ↗
First, the answer｜Labubu did not suddenly appear. In 2015, it was already in the world of THE MONSTERS picture books created by Kasing Lung, and it also made a small number of handmade figures that year. In 2019, it started collaborating with Pop Mart; in 2023, it had a plush version that could be attached to bags, moving from the collection shelf into everyday fashion. In 2024, the THE MONSTERS series saw a significant increase in revenue, and in 2025, it sparked discussions in different markets. This timeline is verifiable; as for who made it go viral, there is currently no evidence that can be attributed solely to a celebrity or a particular post.[1][2][4][5]

First, grasp three key points

Host A Cheng is wearing detective glasses and holding up a magnifying glass, guiding readers to focus on three key points
01First came the character, then came the fame

It appeared in 2015, and it took ten years to become a global topic. These ten years weren't years of constant popularity.

02It changed its place of appearance

First in books, then on shelves, later on bags. The places where people saw it also changed.

03The financial report counts the entire series

The revenue mentioned in the text belongs to the entire THE MONSTERS series, not just the Labubu character.

Hand-drawn wood grain rings, symbolizing Labubu's time accumulation from 2015 to 2025
01 / Ten-year timeline

Ten years, not overnight

Looking only at the excitement of 2025 easily overlooks the previous nine years. Starting from the first book, Labubu has gradually arrived at today step by step.

First came the world, then came the toy

Kasing Lung drew the world of THE MONSTERS. Labubu appeared in 《The Story of Puca》; in the same year, there were also limited handmade figures at toy fairs.

[1][2]

Begins collaboration with POP MART

Kasing Lung collaborated with POP MART. Originally a small-scale toy favored by collectors, it began to move towards broader product and retail channels.

[2]

From shelves to bags

The Exciting Macaron plush series with a soft fur face was released. This time, it could not only be placed on shelves but also hung on bags to go out with people.

[2][3]

Revenue increased significantly

THE MONSTERS series generated approximately RMB 3.041 billion in annual revenue, up 726.6% from 2023.

[4]

Not only discussed within the toy circle

YouTube documented styling, customization and unboxing content; THE MONSTERS series generated approximately RMB 14.161 billion in annual revenue.

[5][6]
Concept scene photo: hands making original clay figurines next to a picture book and a paintbrush
First on the creation tableScene photo explaining the relationship between the picture book and the handmade figurine; not a 2015 on-site photo.
Concept scene photo: a canvas bag hanging with original plush accessories on a city street
Then follow the bag outScene photo helping to understand the usage of the accessory; not a POP MART product photo.
02 / How it enters daily life

From bookshelf to bag,It changed its way of appearing

The picture book needs to be opened to see it; figurines are mostly placed on shelves; accessories appear with the bag in photos and short videos. The appearance has changed, and so has where it meets people.

Note:Considering the accessory as helpful for spreading the trend is an analysis based on product form and community content; public data does not separately calculate how much sales it brings.

Concept illustration: forest fairy appears in an open picture bookPicture bookRecognize when turning the pages
Concept illustration: forest fairy toy displayed on a shelfCollectible toyStored on a shelf for collection
Concept illustration: forest fairy accessory hanging on a canvas bagBag accessoryGo out with the person
Hand-drawn water droplet falls on the lake surface, spreading out in circles of ripples
03 / How the trend spreads

How many relays does it take for a character to become popular?

From picture book, toy, to accessory, then to unboxing and outfitting videos, Labubu appears again and again in new places. Below, we look separately at what happened to the character, products, and distribution channels.

Concept illustration: sketch and features of the forest fairy

First, make it recognizable

Labubu is a member of THE MONSTERS world, not the only protagonist. Its sharp ears, nine teeth, and that mischievous look make it have its own distinct appearance. Whether these features lead people to decide to purchase it is not supported by direct evidence.

Character design: Official data / Purchase impact: Unverified [1]
Concept illustration: Keychain goes out with the tote bag

Let it go out with the person

Collectible figures are usually kept on shelves; plush keychains can be attached to bags, appearing in outfit photos and short videos. The 2023 style introduced this usage, but how much it increased sales cannot be calculated separately at this time.

Keychain style: Confirmed / Spread effect: Inferred [2][3]
Concept illustration: Collectible item is displayed and photographed with a phone

It can be sold, and people are willing to take photos of it

The 2019 collaboration brought the product into broader retail channels. By 2025, YouTube recorded unboxing, outfit changes, DIY, and celebrity exposure. These contents gave more people the opportunity to see it; however, how much influence each post had cannot be calculated separately.

Collaboration and videos: There is data / Single causality: Unverified [2][6]
Original collage illustration: The bag keychain is photographed, next to several outfit and customization示意 photos
Spread method illustrationWhen the keychain appears in the camera view

Outfit, unboxing, and DIY gave the same character different ways of appearing. This is an editorial illustration, not real social media screenshots, and cannot separately prove which type of content led to sales.

Looking back,2015 to 2019This part is easily skipped. Labubu already had a small number of handmade figures when the picture book was released; the collaboration with POP MART came later. Omitting this part would make the story seem like 'the picture book immediately turned into a blind box.'[2]

By 2023, the plush hanging accessory allowed Labubu to not only stay on the shelf but also hang on bags, appear in photos and short videos.This is a new possibility brought by product formsit is not a proof that 'changing the design will definitely make it popular.' Later, retail channels, social media content, and celebrity appearances also entered this story; focusing only on the hanging accessory would miss out on other changes.[2][6]

04 / Financial Report

How big was the trend?
First look at the financial report

Achen is holding a phone checking the data, with an endless stream of numbers behind him showing the revenue trend

By 2024, the changes in the financial report were already very clear; in 2025, it jumped significantly higher. Before looking at the chart, first make sure that this figure is for whom.

For whom is this revenue figure?
The RMB 14.161 billion reported for 2025 refers to THE MONSTERS entire serieswhich includes characters like Labubu. This financial report table does not list the annual revenue for Labubu as a single character.[5]
Original data | Pop Mart 2025 Annual Performance Announcement, Page 33Open official announcement ↗
Excerpt from page 33 of POP MART’s 2025 annual results: THE MONSTERS revenue was 14,161,064 thousand RMB in 2025 (38.1% of total revenue), versus 3,040,664 thousand RMB in 2024 (23.3%).
The highlighted section is THE MONSTERS entire series.The original table reports figures in thousands of RMB: 14,161,064 thousand RMB in 2025, approximately RMB 14.161 billion; about RMB 3.041 billion in 2024. These are revenues for THE MONSTERS series, not sales of Labubu alone.
Hand-drawn warm red exclamation mark speech bubble, reminding readers to verify common statements
05 / Which statements to be cautious about

These three sentences need to be checked again

When talking about Labubu, the following three sentences are often heard. By comparing the timeline and data, it becomes clear that they all speak too quickly.

Concept illustration: a character peeking out from an old picture book, calendar pages turning overCommon Misconception 01

Labubu was born in 2025.

Labubu appeared in the picture book world as early as 2015. 2025 is the year of the trend's expansion, not its birthday.[1]

Concept illustration: the stage between picture books, handmade figures, and retail packagingCommon Misconception 02

It jumped directly from picture books to Pop Mart.

There were small numbers of handmade figures as early as 2015, and it collaborated with Pop Mart in 2019. In between, there was a period in the collector's circle.[2]

Concept illustration: multiple dissemination paths such as collection, hanging decorations, and photographyCommon Misconception 03

A celebrity's single post created the trend.

Celebrity exposure does have records, but public data cannot calculate how much sales were attributed to a specific celebrity. The form of the product, retail, and community content also changed during this period.[4][6]

A hand-drawn illustration looking down at the magnifying glass, verification paper, and pencil on the table
Sources and Verification Methods

How do we know?

Character settings and revenue figures are cross-referenced with official data; the process of early handmade figures is verified against reports featuring interviews with the involved parties. Our analysis will also be clearly marked.

01
POP MART｜THE MONSTERS Official Character Introduction ↗

Verification of the creator, 2015 Worldview, the relationship between Labubu and the picture book, and brand self-description.

02
WIRED｜A Journey Into the Heart of Labubu ↗

Interviews with How2Work and other parties in 2025; verification of the 2015 limited figures, 2019 collaboration, and 2023 pendant.

03
POP MART｜Exciting Macaron Product Page ↗

Verification of the 2023 series and the shape of the rubber face plush products.

04
POP MART｜2024 Annual Financial Report ↗

Pages 29–30: 2023/2024 THE MONSTERS Revenue and 726.6% increase.

05
POP MART｜2025 Annual Financial Report ↗

Pages 32–33: 2025 THE MONSTERS Revenue, company revenue share, and annual growth rate.

06
YouTube Official｜July 2025 Trend Observation ↗

Recording unboxing, DIY, fashion, creators, and celebrity exposure. This is the platform's observation and cannot solely prove which factor caused the trend.

Data verification as of October 1, 2026. The page illustrations and situational photos are original conceptual illustrations and not official product images or historical records. When the text mentions that accessories 'help spread the trend,' it refers to analysis based on product forms and public community content, not measured effects. Revenue figures illustrate the scale of THE MONSTERS series and do not represent the sales of Labubu alone.

Further reading:Full research report and more sources. This page was published on October 1, 2026, version 1.0; subsequent revisions will note the update date.