Australian man charged with stealing dolls worth $5,000

An Australian man has been charged after police allege he stole dozens of Labubu dolls worth around A$9000 ($5,800, £4,400).

Victoria Police raided a property in Melbourne on Tuesday, seizing 43 of the dolls, some of which were limited edition and worth up to A$500 each. Detectives say the collectables were nabbed from a shopping centre during four separate robberies that have taken place since July.

The elf-like creature from Chinese maker Pop Mart have plush bodies and vinyl faces, adorned with pointy ears and a mischievous grin showing exactly nine teeth.

They have become hugely popular around the globe, sparking long queues outside shops and fuelling massive profits for their maker.

In a press release entitled “These Labubu are not for you you”, Victoria Police said the 40 year-old man has since been charged with four counts of burglary and two counts of theft.

He was released on bail and will appear before Melbourne Magistrates court in May next year.

Launched in 2019, Labubu dolls have helped Chinese retailer Pop Mart become a major retailer, operating more than 2,000 vending machines and stores around the world.

They have taken off globally, especially in the US, thanks to celebrity endorsements by including celebrities like Kim Kardashian and Lisa from K-pop group Blackpink.

However, Pop Mart’s shares dipped in recent weeks over concerns raised by banking giant JPMorgan that it was overvalued and that the company would be able to sustain the level of global popularity it had seen so far.