Leveraging its distinctive "ugly-cute" aesthetic, celebrity-driven diffusion effect, vibrant fan communities, and blind-box scarcity strategy, the designer toy brand Labubu has evolved from a niche subcultural symbol into a globally recognized intellectual property (IP). Despite its commercial success, Labubu faces critical sustainability challenges: the short life cycle of image-driven IPs, volatility and trust risks inherent in the blind-box economy, and environmental pressures associated with PVC production. Drawing on a literature review and an in-depth case study, this paper examines these issues from three perspectives: narrative ecology, market governance, and green material transition. The findings reveal that Labubu's visual-symbol–driven model limits the accumulation of long-term cultural assets, reliance on speculative market dynamics undermines consumer trust, and its current material choices conflict with global sustainability agendas. In response, the study proposes a strategic shift from "hype-driven growth" to "sustainable governance" integrating narrative system building, participatory trust mechanisms, and circular material innovation. This research contributes to IP life cycle theory and sustainable cultural product governance and offers actionable pathways for the global expansion of Chinese original IPs.

Yuntong Liu, Qianlong Yu. Sustainable Development Analysis of China's Designer Toy IP Industry: A Case Study of Labubu. Academic Journal of Business & Management (2025), Vol. 7, Issue 12: 8-16. https://doi.org/10.25236/AJBM.2025.071202.

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