Every generation’s got a collectible doll that takes America’s children — and their parents’s wallets — by storm: Beanie Babies, Cabbage Patch Dolls, Sonny Angels, and now the highly sought-after Labubus.
You can find these creepy-but-cute plush dolls just about anywhere: reseller sites, in box stores like Target, vendor booths, convenience stores and the website of the doll’s Chinese manufacturer, Pop Mart. But not all excited customers are getting their hands on the real thing.
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Counterfeit Labubus, now dubbed “Lafufus,” could be all over the place (1), according to market experts who declare the prevalence of the fake dolls a “crisis.” As consumers order more and more Labubus to get their hands on the special color or edition they’ve been after, they risk purchasing a fake. Some buyers, however, may not care that their new creature isn’t signed, stamped and sealed from Big Labubu (2).
Even if you or your child are content with a fake — as long as it’s got that pointy tooth grin and sinister eyes — buying a counterfeit can pose risks that go beyond a lack of authenticity.
Gambling on Labubus
It’s not just the doll’s endearing cuteness that’s been attracting consumers, but also the purchase of the Labubu itself. Pop Mart utilizes a “blind box” model, meaning you don’t know what color Labubu you’re going to get until you open the package. That makes every unboxing a pure thrill.
Among the Labubus on the market are different colors and styles, including rare, scarce and special editions. This brings consumers into “variable ratio reinforcement” (3) — a strategy that keeps shoppers purchasing a specific product from retailers over and over again until they get the one they want. In fact, some shoppers are dropping thousands of dollars just to get the Labubus they’re after (4).
“Scarcity makes things feel more valuable, creates a sense of urgency, heightens the feeling of exclusivity among those who obtain them, and often sparks conversations and competition,” marketing professor Ying Zeng shared with CU Boulder Today (5).
With the massive popularity of Labubus, it was likely just a matter of time before knock-off versions began to hit the shelves. The market is now reportedly filled with counterfeits, and while they may look the same, they don’t have the same safety standards.
In fact, the U.S. Consumer Product Safety Commission has issued a warning for fake Labubus, saying the phony dolls — which are sold as plush figures and keychains — can break into little pieces, which can block airways and cause a choking hazard if swallowed (6).
Plus, consumers have no idea what shady ventures their purchase of Labubu fakes might be funding, as authorities work hard to intercept counterfeit toy shipments that might have ties to trafficking, terrorism and organized crime (7).
“These fake Labubu dolls are dangerous, illegal, and have no place in American homes,” said CPSC Acting Chairman Peter A. Feldman. “No parent should have to wonder if a toy will stop their child from breathing. Protect your children and buy only from reputable sellers.”
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Are Labubus worth the investment?
It’s clear that Labubus are causing a frenzy, and collecting the dolls as a potential investment could be lucrative. In June 2025, a Labubu sold for a staggering $172,798 at auction (8). Since the fuzzy little monsters seem to get more elusive and valuable over time, buyers could potentially get their shot at a six-figure sale.
But that kind of payout is far from a guarantee, and spending money to chase that big sale could be dangerous.
The massive popularity of the Labubu likely sounds familiar to those who collected Beanie Babies, which once had a booming market that eventually came crashing down, rendering most of the stuffed animals worthless. Like fake Labubus, there were also black market Beanies, and counterfeits ran rampant. Now, shoppers can have their pick of the Beanie Babies litter at thrift stores everywhere.
Investing in toys that cost hundreds — if not thousands of dollars — with questionable authenticity and a shaky return on investment might not be the best financial decision.
If you’re purchasing Labubus as an investment strategy, you might want to consider something that’s a little more stable, like ETFs or a high-yield savings account. And if you insist on investing in something shiny and collectible, consider putting your money into gold. With this investment, there’s a good chance the ROI will feel better than ripping open a plastic package.
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Article sources
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
JD Supra (1); CNN (2); Brighter Strides (3); Fortune (4); CU Boulder Today (5); United States Consumer Product Safety Commission (6); WRAL News (7); People (8)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.