Unless you're anti social media you would certainly have heard of the latest accessories trend that's taken the fashion world by storm, the Labubu. This is not surprising given the popularity of bag charms. Let's hope the Labubu is the peak of this particular trend, preventing another insane new accessory trend from emerging.
These charms have many of us divided on whether it's considered cool or to put it bluntly just really tacky? Compared to the options presented to us before, this feels like the ugly stepchild of the bag charm family. A harsh condemnation I will admit but we have to acknowledge the impact of social media in fueling the hype.Thanks to TikTok and its undeniable power we can only appreciate the significant impact this trend has had on consumers.
Celebrities far and wide have been sharing their thoughts on the Labubu. Bethany Frankel, an alumna of the Real Housewives of New York franchise was extremely vocal in exclaiming the stupidity of the accessory, only to now extoll its virtues.To clarify, they're not only bag charms, but dolls. This insatiable desire for Labubu's has catapulted Pop Mart's owner to become the 10th richest man in China. According to Forbes.com "The price of Pop Mart’s Hong Kong-listed shares has tripled to more than $270 ($34.40) this year." Things escalated to such an extent that when a third addition of the doll was released in a store in London, a fight broke out among eager shoppers desperate to purchase it. A life size version of this rabbit like toy was auctioned off in China for one hundred and fifty thousand dollars.
What is it about Labubu's that makes it one of the hottest commodities on the market? Could it be that for the longest time the quiet luxury trend aesthetic has dominated and the Labubu's popularity is in direct response to that- nonconformist one could say? People wanting to break free from an aesthetic that no longer serves them? Whatever the reason, it is here to stay for the foreseeable future. Perhaps I too will cave in to the hype of the Labubu bag charm.
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