A fluffy, $85 toy is taking Asia by storm and sparking legions of knockoffs. Inside the meteoric rise of Labubu.

A fluffy, $85 toy is taking Asia by storm and sparking legions of knockoffs. Inside the meteoric rise of Labubu.

Erin Liam

Grace Lee remembers the first time she saw a Labubu. It had rabbit-like ears and spikey teeth — and her immediate thought was that it was ugly.

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