"Bay Area teacher Ellis Stephens makes thousands of dollars a month customizing Labubu plush toys. Fueled by Pop Mart's blind-box collectibles craze, the Labubu resale market has exploded worldwide, with rare figures selling for as much as $30,000 each. Pop Mart is now worth more than Mattel and Hasbro combined. The toys are also popular with celebrities, including professional tennis player Naomi Osaka, who carried one in her bag at the 2025 US Open. But some fear the Labubu craze could collapse like Beanie Babies."
"Bay Area teacher Ellis Stephens makes thousands of dollars a month customizing Labubu plush toys. Fueled by Pop Mart's blind-box collectibles craze, the Labubu resale market has exploded worldwide, with rare figures selling for as much as $30,000 each. Pop Mart is now worth more than Mattel and Hasbro combined. The toys are also popular with celebrities, including professional tennis player Naomi Osaka, who carried one in her bag at the 2025 US Open."
Ellis Stephens, a Bay Area teacher, earns thousands of dollars monthly customizing Labubu plush toys. Pop Mart’s blind-box collectible model has fueled a global surge in Labubu demand and a booming resale market. Rare Labubu figures have sold for as much as $30,000 each. Pop Mart’s market value now exceeds the combined valuations of Mattel and Hasbro. High-profile fans have increased visibility, including Naomi Osaka carrying a Labubu at the 2025 US Open. Enthusiasts and investors fuel speculative buying, while critics warn that the craze could collapse similarly to the Beanie Babies market.
Read at Business Insider
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