Khaberni - The global toy markets have witnessed a notable shift in recent days, as prices for the famous Labubu dolls have begun to fall significantly, after being sold at exorbitant prices and selling out immediately upon release.
According to a "Forbes" report, this sudden decline in demand indicates that the "Labubu Craze" that swept the world last year is gradually fading, while attention is turning towards a new doll from the same company that threatens to take the lead.
Data from major stores such as Amazon, Target, and Walmart show that Labubu doll inventories have become more readily available, with prices ranging from only 20 to 39 dollars, after previously being sold for multiples of these amounts.
On eBay, which had been the scene of speculation reaching up to ten thousand dollars for some limited editions, prices have sharply dropped, while most of the higher-priced listings have failed to attract any bidders.
Labubu dolls, launched by the Chinese company Pop Mart and inspired by artist Kasing Lung's designs, had previously turned into a global phenomenon driven by celebrity endorsements such as Lisa from the band Blackpink, Rihanna, and Dua Lipa, as well as widespread "unboxing" videos on TikTok.
The obsession with this doll reached the point of brawls in stores due to limited quantities, and the prevalence of counterfeit versions in the market.
However, the scene has quickly changed, as the beginnings of a decline in demand are reflected in the company's stock market performance; Pop Mart's stock dropped from 43 dollars in August to only 32.8 dollars, a decrease of 24%. Additionally, the company's founder Wang Ning lost about 6 billion dollars of his fortune in just one month, after being valued at 20.5 billion dollars.
While the allure of Labubu diminishes, a new doll called Hirono Living Wild Doll, also launched by Pop Mart, has gained widespread popularity following an appearance by the famous BTS member V (Kim Taehyung) carrying one at Incheon Airport in South Korea.
Within just hours, the quantity completely sold out from the company's official site in China, and its resale price rose to 175 dollars, more than three times its original price.
While indications suggest the end of the "Labubu" era, it seems Pop Mart is now betting on a new wave of popularity driven by other dolls with the same artistic character, but with a different marketing momentum.
