Commentary: China Hunts for the Next Generational ‘Labubu’

An observation making the rounds in Chinese retail circles — “Every generation has its own Labubu” — may sound like a wry comment on fads, but it’s a sharp summary of a profound generational shift in consumption. 

As China’s economy pivots toward high-quality development, the ability of new supply to meet new demand is becoming the key determinant of a high-quality asset. The popularity of Labubu, a collectible art-toy character, is no accident. It is the result of a confluence of generational aesthetics, emotional symbolism, and identity expression.