Focus on the BIG picture.
Wednesday, Aug 27, 2025
Outside the box.
Fake ‘Lafufus’ Spread as Pop Mart’s Labubu Craze Drives Global Boom
Counterfeit dolls flood markets while Chinese toy maker expands worldwide with record sales
Pop Mart, the Beijing-based company behind the viral Labubu dolls, is on track to exceed 30 billion yuan (about 4.2 billion US dollars) in revenue in 2025, with global sales of Labubus alone rising 668 percent in the first half of the year.
In the Americas, revenue surged more than 1,000 percent year-on-year, according to the company’s semi-annual financial report.
Labubu, originally a storybook character, has become a global collectible phenomenon, with the brand’s popularity reinforced by the “blind box” sales model.
The company’s success has also spurred a thriving counterfeit market.
Knock-off versions of the toy, known as “Lafufus,” are being sold in convenience stores and online, often at a fraction of the official price.
While the fakes differ in size and finish, many replicate the mischievous design that made the original dolls so popular.
Social media has further normalized ownership of these copies, with some consumers embracing their quirks as unique.
Pop Mart has taken steps to protect its intellectual property.
The Labubu brand has been trademarked internationally since at least 2016, and the company has pursued legal action against retailers selling counterfeits, including lawsuits against convenience stores in California.
Chinese customs authorities have also seized shipments of fake Labubus, part of wider crackdowns on counterfeit goods.
In 2021, China accounted for 45 percent of all reported global counterfeit seizures, according to the Organisation for Economic Co-operation and Development.
Authorities in the United States and United Kingdom have issued safety warnings, noting that fake versions of the dolls may pose choking hazards for children.
To help consumers identify authentic products, Pop Mart incorporates a holographic sticker, scannable QR code, and a nine-tooth design, with newer versions featuring a UV stamp on one foot.
Despite challenges from counterfeits, Pop Mart is expanding rapidly.
The company has opened at least 50 new stores worldwide in 2025 and is broadening its presence in markets across the Americas, Europe, and Asia.
Analysts estimate that by 2034, international markets could represent 70 percent of its total revenue, up from 39 percent in 2024.
Pop Mart has also introduced new products, including a miniature Labubu series announced by CEO Wang Ning in August.
The launch helped boost the company’s share price by 14 percent, reaching its highest level since 2020.
Labubu’s cultural reach continues to grow, with appearances in music, fashion, and social events.
Recent examples include themed costumes, gold-plated collector editions, and celebrity endorsements.
Pop Mart’s strategy of rapid product development and algorithm-driven marketing has aligned with consumer trends, particularly among younger audiences on platforms such as TikTok.
In the Americas, revenue surged more than 1,000 percent year-on-year, according to the company’s semi-annual financial report.
Labubu, originally a storybook character, has become a global collectible phenomenon, with the brand’s popularity reinforced by the “blind box” sales model.
The company’s success has also spurred a thriving counterfeit market.
Knock-off versions of the toy, known as “Lafufus,” are being sold in convenience stores and online, often at a fraction of the official price.
While the fakes differ in size and finish, many replicate the mischievous design that made the original dolls so popular.
Social media has further normalized ownership of these copies, with some consumers embracing their quirks as unique.
Pop Mart has taken steps to protect its intellectual property.
The Labubu brand has been trademarked internationally since at least 2016, and the company has pursued legal action against retailers selling counterfeits, including lawsuits against convenience stores in California.
Chinese customs authorities have also seized shipments of fake Labubus, part of wider crackdowns on counterfeit goods.
In 2021, China accounted for 45 percent of all reported global counterfeit seizures, according to the Organisation for Economic Co-operation and Development.
Authorities in the United States and United Kingdom have issued safety warnings, noting that fake versions of the dolls may pose choking hazards for children.
To help consumers identify authentic products, Pop Mart incorporates a holographic sticker, scannable QR code, and a nine-tooth design, with newer versions featuring a UV stamp on one foot.
Despite challenges from counterfeits, Pop Mart is expanding rapidly.
The company has opened at least 50 new stores worldwide in 2025 and is broadening its presence in markets across the Americas, Europe, and Asia.
Analysts estimate that by 2034, international markets could represent 70 percent of its total revenue, up from 39 percent in 2024.
Pop Mart has also introduced new products, including a miniature Labubu series announced by CEO Wang Ning in August.
The launch helped boost the company’s share price by 14 percent, reaching its highest level since 2020.
Labubu’s cultural reach continues to grow, with appearances in music, fashion, and social events.
Recent examples include themed costumes, gold-plated collector editions, and celebrity endorsements.
Pop Mart’s strategy of rapid product development and algorithm-driven marketing has aligned with consumer trends, particularly among younger audiences on platforms such as TikTok.
