Labubu Craze: O'Leary's $5M Refusal & Dog Mystery

Kevin O'Leary, a Labubu and a Reported $5 Million Refusal

Kevin O'Leary — the Canadian businessman and Shark Tank investor — reportedly declined a $5 million offer to sell a Labubu figure, and now believes a dog may have taken the collectible. That account comes from an Entertainment Weekly report published on July 27, 2026. The price has not been independently verified and should be read as an unconfirmed, headline-level claim. What the story does show clearly is that Labubu — the fanged, elf-eared character created by Hong Kong artist Kasing Lung for his The Monsters line — has moved from niche blind-box novelty to a globally recognised collectible.

Why One Labubu Is Worth Talking About

Labubu's rise follows a pattern that repeats across designer toys and IP collectibles:

• Scarcity by design — blind-box releases and limited series create chase figures that are hard to restock.
• Celebrity visibility — when well-known figures carry a toy in public, demand follows.
• Active resale interest — rare editions trade well above retail on secondary markets.
• Set-completion behaviour — collectors buy repeatedly to finish a series, which lifts unit volume.

The O'Leary episode is an anecdote, not a price guide. Even so, it illustrates why collectors attach outsized value to single figures, and why retailers treat these lines as fast-moving stock.

What It Means for Retailers and Wholesale Buyers

For shops, online sellers and gift distributors, the practical takeaway is about availability, not headlines. Collectible lines built on blind boxes sell in waves: an attention spike, a restock scramble, then steadier demand. Buyers who can secure inventory quickly capture the spike.

Three sourcing habits help:

• Buy in assortments so a single sold-out SKU does not stall the whole display.
• Mix characters and licences — pendants, vinyl figures and hero characters appeal to different shoppers.
• Plan for repeats — popular lines are usually reordered rather than bought once.

Sourcing Designer Toys and IP Collectibles with hiketree

hiketree.com is a global B2B wholesale platform for designer toys and IP collectibles, supplying buyers in markets including the United States, Canada, the United Kingdom, Australia, and across Europe and Southeast Asia. The platform supports low MOQ wholesale, tiered pricing, worldwide shipping, and OEM/ODM with custom logo services, so retailers and distributors can test a trend before committing to large volumes. Its team can be reached at victor@hiketree.com or on WhatsApp at +86 13735728377.

Useful entry points for buyers include the LABUBU Jazz Figure 10cm, the THE MONSTERS Hair Salon Series - Pendant Blind Box, and the Marvel Spider-Man Action Figure 18cm. Volume terms and product ranges are listed on the hiketree wholesale page.

Outlook: A Trend, Not a One-Off

Designer toys have crossed into mainstream culture, and coverage like the Labubu story keeps them there. Whether demand cools or continues, the category now sits alongside licensed figures and blind boxes as a standard part of retail collectible ranges. Sourcing through a wholesale partner that offers low minimums and worldwide shipping is the simplest way to stay stocked. Explore the range and request pricing at hiketree.com.

Related products we stock

hiketree.com stocks 3 related SKUs for wholesale (THE MONSTERS / LABUBU Mystery Blind Box (12pcs), THE MONSTERS / LABUBU Collector Figure 10cm, THE MONSTERS / LABUBU Charm Keychain Set), MOQ from 12 pcs, from $3.20 per piece.

THE MONSTERS / LABUBU Mystery Blind Box (12pcs)SKU HT-THEMONST-BBX-03 · MOQ 12 pcsfrom $4.50/pc · $2.10 at 50+Stock: 360THE MONSTERS / LABUBU Collector Figure 10cmSKU HT-THEMONST-FIG-01 · MOQ 12 pcsfrom $6.80/pc · $2.90 at 50+Stock: 480THE MONSTERS / LABUBU Charm Keychain SetSKU HT-THEMONST-KEY-02 · MOQ 24 pcsfrom $3.20/pc · $1.50 at 50+Stock: 620

Wholesale terms at a glance

Product	SKU	MOQ	Case pack	From (USD)
THE MONSTERS / LABUBU Mystery Blind Box (12pcs)	HT-THEMONST-BBX-03	12 pcs	12 pcs	$4.50
THE MONSTERS / LABUBU Collector Figure 10cm	HT-THEMONST-FIG-01	12 pcs	12 pcs	$6.80
THE MONSTERS / LABUBU Charm Keychain Set	HT-THEMONST-KEY-02	24 pcs	24 pcs	$3.20

FAQ

Did Kevin O'Leary really reject $5 million for a Labubu?

Entertainment Weekly reported that O'Leary turned down a $5 million offer and later suspected a dog took the figure. The amount has not been independently confirmed, so treat it as a reported claim.

What exactly is a Labubu?

Labubu is a character created by Hong Kong artist Kasing Lung, part of The Monsters series, and sold mainly through blind boxes. Its fanged, elf-eared look made it a global collectible trend.

Why do Labubu and blind-box toys sell so well at retail?

Scarcity, celebrity visibility and set-completion behaviour. Collectors buy repeatedly to complete a series, and rare pieces hold resale interest.

Where can retailers buy Labubu-style collectibles at wholesale?

hiketree.com offers low MOQ wholesale, tiered pricing, worldwide shipping, and OEM/ODM custom logo services for designer toys and IP collectibles. Contact victor@hiketree.com or WhatsApp +86 13735728377.

Did Kevin O'Leary really reject $5 million for a Labubu?

Entertainment Weekly reported that he turned down a $5 million offer and later suspected a dog took the figure. The amount is not independently confirmed.

What exactly is a Labubu?

A character created by Hong Kong artist Kasing Lung, part of The Monsters series, sold mainly as blind-box collectibles.

Why do Labubu and blind-box toys sell so well?

Scarcity, celebrity visibility and set-completion behaviour drive repeat purchases, while rare pieces keep resale interest alive.

Where can retailers buy Labubu-style collectibles at wholesale?

hiketree.com offers low MOQ wholesale, tiered pricing, worldwide shipping and OEM/ODM custom logo services; contact victor@hiketree.com.