HONG KONG, May 7 — A fast-growing toy craze could hit a wall as Donald Trump’s tariffs on Chinese imports begin to bite.

Labubu dolls, created by Beijing-based Pop Mart and popularised by K-pop star Lalisa Manobal, are now facing price hikes in the US, Bloomberg reported.

The furry, mischievous character has become a global sensation, with fans paying up to US$960 for limited edition figurines.

Pop Mart’s US keychain Labubus now cost US$28, up from US$22, following the new 145 per cent tariffs.

The company’s revenue soared in 2024 to US$1.8 billion, thanks largely to the success of Labubu and related characters.

But analysts warn that young collectors may be priced out as costs rise amid broader economic pressures.

Pop Mart says it aims to keep prices accessible by diversifying production into Vietnam.

In response to growing costs, some fans have turned to resellers, where rare items can sell for triple their original price.

New York-based reseller Kenny Cheung has made US$10,000 since August by flipping Labubus online.

The toys’ surprise packaging and scarcity appeal to adult collectors, known in the industry as "kidults”.

But industry watchers say viral toy trends are often short-lived and vulnerable to economic changes, adding that if prices keep rising, Labubu may soon move from mass obsession to niche luxury.