New Delhi, March 23 -- With its big head, sharp teeth, large eyes, and fuzzy footy pajamas, Labubu has drawn mixed reactions. While some find it creepy, others see it as endearing, and its popularity is skyrocketing worldwide.

Labubu was designed by Hong Kong artist Kasing Lung about a decade ago, according to Business Insider. The doll is part of "The Monsters" line, produced by the Beijing-based toy company Pop Mart. Originally inspired by characters from Nordic mythology, Labubu is described as "a small monster with high, pointed ears and serrated teeth."

The demand for Labubu and other "The Monsters" merchandise is so high that most products sell out instantly on Pop Mart's website. Its growing popularity has also led to the rise of...