Labubu is a little doll in fleecy, bunny-eared onesies whose coffee-bean eyes hover above a serrated row of smiling teeth. Ostensibly an elf, the creature is either cute or creepy, depending on whom you ask. But one thing is clear -- it has become a monster of a business.
Caixin
How Labubu became a monster of a business
Monetizing a tale of furry female forest elves at least as old as the dinosaurs
The auctioneer congratulates the winning bidder for a Labubu figurine at Yongle International Auction in Beijing on June 10. © Reuters
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