How can I tell if a Labubu is real or fake?

Check the packaging hologram sticker, verify the QR code on Pop Mart's official app, examine paint quality and seam lines, and compare weight — authentic Labubu figures have consistent weight within 1-2 grams of the official spec.

Is it safe to buy Labubu on Amazon?

Amazon uses commingled inventory, meaning even "sold by Pop Mart" listings can contain counterfeits mixed in by third-party sellers. For guaranteed authenticity, buy from Pop Mart's official stores, app, or authorized specialty retailers.

What is concentration risk in toy collecting?

Concentration risk means having too much of your collection in a single IP or brand. If that IP loses popularity, your entire collection loses value simultaneously. Diversifying across 3-5 IPs reduces this risk.

Trends

Designer Toy IP Rankings 2026: Labubu vs Molly vs Crybaby

March 30, 2026 by LABUBUBOX Editorial

Every collector has an opinion on which IP is "number one." The problem is they are usually answering three different questions at once—and the answers rarely agree. Here is the 2025 revenue breakdown straight from Pop Mart's annual report, and what it actually means for your collection.

Designer toy figurines collection on display — Six IPs now generate over ¥2 billion each — but the gap between #1 and #2 is a canyon.

The Official Numbers

IP	2025 Revenue (¥B)	% of Total	YoY Growth	The Story
The Monsters (Labubu)	14.16	38.1%	+365.7%	First single IP to break ¥10B. Cultural phenomenon.
Skullpanda	3.54	9.5%	Steady	Aesthetic loyalists. Dark, moody, fashion-forward.
Crybaby	2.93	7.9%	Explosive	The growth darling. Steep climb from a smaller base.
Molly	2.90	7.8%	Stable	The OG. Deep archive, loyal base, emotional anchor.
Dimoo	2.78	7.5%	Stable	Fantasy worldbuilding. Diorama-friendly, collab magnet.
Xing Xing Ren (Starman)	2.06	5.5%	New entrant	The diversification bet. Watched closely by analysts.

Plus 17 IPs exceeding ¥100M each, and licensed IPs contributing ¥3.38B (9.1%).

Three Leaderboards, Three Winners

Revenue king: Labubu, by a landslide. It generated more than the next four IPs combined.

Growth rocket: Crybaby. Percentage growth from a smaller base looks explosive on charts—but ¥2.93B is still less than a quarter of Labubu's haul.

Cultural staying power: Molly. She has been around since Pop Mart's early days. Trends come and go; Molly endures.

Labubu and designer toy figures close-up — Skullpanda and Dimoo quietly hold their ground while Labubu dominates the headlines.

The Concentration Problem

When one IP accounts for 38% of revenue—up from 23% the prior year—that is not just success. It is dependency. If Labubu's cultural moment fades (and all cultural moments eventually do), Pop Mart needs Crybaby, Skullpanda, or something entirely new to fill a ¥14 billion hole. That is why analysts are nervous even as fans are ecstatic.

Collectible toy figurines arranged on shelf — 17 IPs now exceed ¥100M in revenue — but the bench needs to get deeper, faster.

What This Means for Your Shelf

Diversify. Not because Labubu is bad, but because the best collections tell a story across aesthetics. Mix the hype with the timeless. And if you want something outside the Pop Mart ecosystem entirely, independent plush like Labubu Box offers a different design language worth exploring.

Browse our collection.

Data: Pop Mart 2025 Annual Report via Futunn, BigGo Finance. Editorial analysis only.