Chinese toy maker Pop Mart is celebrating a huge financial win. The company expects its profits for the first half of this year to rise by at least 350% compared to the same period last year, largely thanks to the massive success of its Labubu plush toy. Pop Mart has joined a select group of companies that have perfectly captured the cultural moment, attracting millions of buyers eager to own the latest must-have toy or gadget.
The secret behind what makes toys like Labubu wildly popular remains elusive, though it is a question toy makers have been chasing for decades. Here’s a look at some iconic toys that have captured the public’s imagination over the years.
Classic Collectibles and Modern Hits
Cabbage Patch Kids
Originating in the 1980s, these chubby-faced dolls came with adoption papers, sparking huge demand and long store lines. More than 90 million dolls were sold worldwide. They were relaunched in 2004 to tap into a wave of ’80s nostalgia. Today, the dolls even have a museum and were inducted into the National Toy Hall of Fame in 2023.
Beanie Babies
In the mid-1990s, Beanie Babies became a craze with their limited runs, collectible nature, and cuddly design. Ty Warner, the founder, became a billionaire as collectors and traders hoped their values would skyrocket. Despite legal troubles for Warner later on, the toys left a lasting mark on pop culture.
Tamagotchi
The digital pet craze started in Japan in 1996, inviting users to care for virtual pets. Neglect meant the pet could “die,” making it both fun and challenging. It relaunched as a mobile app in 2013 and was inducted into the World Video Game Hall of Fame in May.
Fidget Spinner
Taking off in 2017, this small spinning toy was not a product of major companies but became a viral sensation on social media. Originally designed as a focus aid, it became so popular that many schools banned it for being distracting.
The Newest Phenomenon
Created by artist Kasing Lung and inspired by Nordic mythology, Labubu first appeared in picture books in 2015. Partnering with Pop Mart in 2019, the monsters gained huge popularity in 2023 after being sold as plush keychains. Celebrities like Rihanna, Kim Kardashian, NBA star Dillon Brooks, and K-pop star Lisa have helped fuel the craze on social media platforms.
Labubu’s success has significantly boosted Pop Mart’s business, with revenues doubling to 13.04 billion yuan ($1.81 billion) in 2024. Plush toys now account for nearly 22% of Pop Mart’s total revenue, soaring more than 1,200% in sales.
What The Author Thinks
The enduring appeal of toys like Labubu lies not just in their design, but in how they connect with communities and culture. The blend of artistry, storytelling, and celebrity endorsements creates a sense of belonging and desire. While technology has transformed entertainment, the emotional and nostalgic pull of a well-crafted toy remains powerful. Companies that understand this blend of culture and commerce will continue to lead the market.
Featured image credit: Alpha via Flickr
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