An Australian man has been formally charged following allegations of stealing dozens of Labubu dolls, valued at approximately A$9,000 (US$5,800, £4,400). Victoria Police conducted a raid on a Melbourne property on Tuesday, confiscating 43 of the highly sought-after dolls, some of which were limited editions worth up to A$500 each. According to detectives, the collectibles were stolen during four separate incidents at a shopping center since July. Labubu, an elf-like creation by Chinese manufacturer Pop Mart, features plush bodies, vinyl faces, pointed ears, and a mischievous grin displaying exactly nine teeth. These dolls have surged in global popularity, often causing long queues outside stores and generating significant revenue for the company. In a press release titled ‘These Labubu are not for you,’ Victoria Police confirmed that the 40-year-old suspect faces four counts of burglary and two counts of theft. He has been released on bail and is scheduled to appear in Melbourne Magistrates Court in May 2024. Since their launch in 2019, Labubu dolls have propelled Pop Mart into a global retail powerhouse, with over 2,000 vending machines and stores worldwide. Their international success has been bolstered by endorsements from celebrities such as Kim Kardashian and Lisa from K-pop group Blackpink. However, Pop Mart’s stock has recently declined amid concerns raised by JPMorgan, which questioned the company’s valuation and its ability to maintain its current level of global popularity.