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

Erin Liam

• Labubu, a furry plushie with an unsettling grin and serrated teeth, is all the rage in Asia.
• Sold by Chinese toymaker Pop Mart, the toys fly off the shelves.
• The toy's popularity comes from celebrity endorsements and providing adults with emotional comfort.

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.

But one day...