NOMINATIONS OPEN FOR INNOVATION AWARDS

AVINKARE, in association with the Madras Management Association (MMA), invites nominations for the 14th Edition of the ChinniKrishnan Innovation Awards 2025.

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mystery box so far was a Labubu which is worth $250, that is ₹20,000 approximately. But because it was in a mystery box, the buyer got it for just ₹3,500. Sania Mirza, former Indian tennis player, who is also known to be a Labubu collector, has purchased two or three rare ones like the Powerpuff x CryBaby one from him, he reveals, adding that 90% of his buyers are women since it is marketed as a handbag accessory.

Besides the surprise element, Indrakshi Roy, a college student, notes that people are drawn to the dolls for their 'impish and mischievous faces' but also because they are a status symbol amid a global recession. She says, "They're not a children's toy as much as they are a luxury accessory like the Nicki Minaj Barbie doll. Also, with the recession, adults are spending more on items considered 'small' luxuries, like a handbag accessory rather than on 'big' luxury purchases."