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Reuters

Victoria Police have charged a 40-year-old man with theft and burglary after dozens of the globally sought-after Labubu dolls were recovered during a property search in a Melbourne suburb.
During the search, Australian police recovered 43 of the sought-after Labubu dolls, the collectible plush creatures known for their distinctive googly eyes and pointy teeth.
The seized haul, which included several limited-edition figures valued at an estimated A$500 (US$325) each, had a collective worth of around US$9,000.
Authorities allege that the toys were stolen during four separate burglaries at a shopping centre in central Melbourne starting in July.
The 40-year-old was charged with four counts of burglary and two counts of theft. He is due to appear in court in May.
Labubus have become a global sensation. The furry monsters are both cute and creepy in appearance, and their popularity has been fuelled by influencers on TikTok and Instagram who film themselves unboxing mystery packages containing the toys.
In China, Labubus have long been popular. Stores there regularly attract collectors who shake the “blind boxes” carefully in hopes of guessing which figure is inside. Buyers know the general theme or series, but not the exact character they are getting.

Labubu are part of Pop Mart’s “The Monsters” series of toys which accounted for more than a third of first-half revenue, as sales soared thanks to the influence of celebrity fans such as Lisa of K-pop group Blackpink, singer Rihanna and ex-soccer star David Beckham.
That has led to a booming resale market, supporting prices of both the toys and Pop Mart stock. But resale prices worldwide have dropped since their summer peak, raising questions about the longevity of demand for the Chinese toymaker’s cash cow.
Data from Chinese art toy resale platform Qiandao showed the price of Labubu character “Luck”, launched in April, peaked in June above 500 yuan (US$70) on the secondary market but is now around 108 yuan. Prices of other characters in the same series have fallen below those at official Pop Mart stores.
Investors have been quick to pin the fall in resale prices on cooling demand, with Pop Mart’s share price down around 25 per cent since August highs, though analysts and the company itself have said that the issue is supply rather than demand.


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Australasia

The highly valued limited-edition figures were allegedly stolen during a months-long crime spree at a shopping centre in central Melbourne


The highly valued limited-edition figures were allegedly stolen during a months-long crime spree at a shopping centre in central Melbourne.


Australian police recover 43 stolen Labubu dolls, charge man with burglary

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}The highly valued limited-edition figures were allegedly stolen during a months-long crime spree at a shopping centre in central Melbourne

The highly valued limited-edition figures were allegedly stolen during a months-long crime spree at a shopping centre in central Melbourne