Hu Yong

In the ephemeral world of collectibles, Labubu’s journey from obscurity to auction-record fame - and subsequent market correction - mirrors a seismic shift in cultural consumption. Once traded at 1,080,000 RMB yet now facing a 50% price plunge after restocks, this "ugly-cute" figurine embodies capitalism’s dance with emotion. As Peking University scholar Hu Yong (胡泳) observes, its appeal lies in violating norms: merging infantile familiarity with unsettling novelty. For a generation navigating digital isolation, Labubu isn’t just plastic; it’s a vessel for identity, rebellion, and the quiet erosion of grand narratives. The Baby Schema Paradox Labubu’s disproportionate eyes and miniature body exploit an innate human trigger: the Kindchenschema (baby schema). Animal behaviorist Konrad Lorenz’s theory reveals our hardwired urge to protect infantile features - a tool brands weaponize for emotional consumption. Yet Labubu subverts this. Its jagged teeth and hollow gaze inject discomfort into cuteness, creating what Professor Cui Di (崔迪) calls "a dark innocence." Where Hello Kitty radiates saccharine purity, Labubu hybridizes charm with chaos, rejecting "standardized" aesthetics to resonate with adults disillusioned by performative optimism. This duality expands its reach. Traditional "mēng" (萌, cute) toys exclude those seeking sophistication, but Labubu’s grotesque allure bridges demographics. Its design acknowledges…