“(Labubu) does present a really interesting intersection (as) both an accessory and a toy,” DePaoli added. “You can customize it as you would your doll, tapping into some nostalgia for childhood, while at the same time (it) being a popular fashion accessory that is recognizable to other people in the know.

What to know about the tiny toy from Hong Kong that surged in fame. Labubu dolls, created by Kasing Lung, have become a popular collectible. Labubu dolls are sold in blind boxes, adding to their appeal and collectibility.