I remember the day the Exciting Macaron series dropped. We had boxes stacked high in the PopNya office, and the team was buzzing. We knew it would be popular, it's LABUBU, after all, but none of us predicted the absolute tidal wave that was the Soymilk LABUBU. Within hours, my DMs were flooded. "Do you have Soymilk?" "Can I reserve a Soymilk?" "How much for just the Soymilk?"
It was chaos. Beautiful, monster-filled chaos.
This one little guy, a simple cream-colored plush pendant, became an overnight icon. It transcended the designer toy community and landed squarely in the mainstream "aesthetic" world. Suddenly, it wasn't just collectors who wanted him; it was everyone. He was clipped to Goyard bags, dangled from car mirrors, and featured in "what's in my bag" videos all over TikTok.
But the frenzy created a question that still divides group chats and Reddit threads today: Soymilk or Toffee?As someone who has sold hundreds of both, let's actually break it down.
The Anatomy of a Hypebeast: Why Soymilk?
On paper, Soymilk is just a cream-colored LABUBU. But it's so much more than that. The color isn't a stark, clinical white; it's a soft, gentle off-white with a hint of beige, like actual fresh soymilk. It's the perfect neutral. It goes with everything. In a world dominated by minimalist aesthetics and beige influencers, Soymilk was destined for stardom.
The plush itself is part of the magic. POP MART used a specific short-pile faux fur for the Macaron series that has a dense, velvety feel. It's not fluffy like a cheap carnival prize. It has a satisfying texture that mimics the smooth shell of a macaron. When you hold one, you get it.
The batch we got in late 2023 had a slightly softer, almost fluffier texture. The restocks we've seen since mid-2024 are still high quality, but the pile is a bit shorter and denser. It's a tiny, almost imperceptible difference, but for the hardcore collectors who got in early, that first batch is the holy grail.
The demand immediately outstripped supply, and the secondary market went nuclear. The plush pendant, which retailed for around $28, was suddenly hitting $150, even $180 on StockX. I watched the price chart with a mix of horror and fascination. People were paying 5-6x retail for a plush keychain that was still actively in production. That's the power of viral hype.
The Quiet Contender: Don't Sleep on Toffee
While everyone was losing their minds over Soymilk, his brother, Toffee, was sitting right there, looking all cozy and unbothered. The Toffee and Soymilk LABUBU are two sides of the same coin. Where Soymilk is clean, bright, and minimalist, Toffee is warm, rich, and comforting. It's the color of a perfectly brewed cup of tea or a soft caramel candy.
Toffee's market trajectory was completely different. It never had that insane, vertical spike that Soymilk did. Instead, it saw a slower, more stable climb. While Soymilk was hitting absurd peaks, Toffee was hovering around a more "reasonable" (for a hyped collectible) $70-90 on the secondary market.
What this tells me as a seller is that Soymilk's value was driven by pure, explosive virality. Toffee's value, on the other hand, was driven by genuine collector appreciation. It's the "if you know, you know" choice. It appeals to people who want the LABUBU Macaron charm without necessarily chasing the single most hyped item.
We've also noticed a pattern in our PopNya customer base. The buyers going for Soymilk are often newer to the scene, pulled in by the social media trend. The buyers who specifically ask for Toffee are often long-time collectors who appreciate the design and colorway on its own merits.
The Real-World Test: A Head-to-Head Battle
So, which one is "better"? It's the wrong question. The right question is, "Which one is better for you?" Let's put them side-by-side.
Aesthetics & Style: * Soymilk: The champion of versatility. It's a blank canvas. It looks incredible on a black bag, a white bag, a colorful bag. It's a statement of quiet luxury. It's the fashionista's choice. * Toffee: The king of cozy. It gives off warm, autumnal vibes year-round. It looks amazing with earth tones, denim, and leather. It feels less like a trendy accessory and more like a personal companion.
Market Value & "Investment": * Soymilk: Highly volatile. Its price is tied directly to its viral status. When the next "it" item comes along, I fully expect Soymilk's secondary market price to cool off. Buying it at its peak price of $150+ is a massive gamble. You're buying at the top of a hype cycle. * Toffee: More stable. Because its demand is more organic, its price doesn't swing as wildly. It's less of a "get rich quick" flip and more of a solid piece in a collection that will hold its value among people who genuinely love the series. If you're looking to start collecting, understanding these market differences is key, as we've talked about in our ultimate guide to LABUBU dolls.
The Durability & Dirt Factor (The Part No One Tells You): This is the big one. I need to be brutally honest here. The Soymilk LABUBU is a dirt magnet. It's a beautiful, pristine cream color that shows every single speck of dust, every smudge, every accidental brush against a dirty car door. If you plan to actually use this as a keychain on a daily-use bag, be prepared for it to look dingy within weeks. I've had customers send me photos asking how to clean it, and the truth is, it's tough to restore it to its original glory.
Toffee, on the other hand, is a workhorse. The warm brown color is incredibly forgiving. It hides dirt and daily wear and tear like a champ. You can clip it to your backpack and take it on adventures without having a panic attack every time it bumps into something. For practical, everyday use, Toffee wins. It's not even a competition.
Vinyl vs. Plush: The "Exciting Macaron" Confusion
Let's clear something up, because I get this question a lot. The term "Labubu Exciting Macaron Soymilk" can refer to two different things, and it trips people up.
1. The Vinyl Figure: This is the small, ~3-inch vinyl toy that comes from the Exciting Macaron blind box series. It's a regular figure in the set, not a secret. The paint job is fantastic, with a matte finish that looks just like a macaron. 2. The Plush Pendant: This is the larger, ~7-inch plush keychain that is sold separately. This is the item that went viral on TikTok.
They are not the same. You cannot get the big plush from a blind box. The vinyl figure is awesome and a core part of the collection, but the plush is what caused the global meltdown. If you're new to this, make sure you know which one you're buying! The blind box series is a whole world of its own, with its own fakes and market realities, which is a topic we've covered in-depth in our honest Macaron buyer's guide.
Real Talk: My Honest Verdict as a Seller
Okay, no more beating around the bush. Here's my take.
The Soymilk LABUBU is a beautiful piece of design that captured a cultural moment. It's lightning in a bottle. But honestly? It's overhyped. The price is disconnected from its intrinsic value and is purely a function of social media mania. Paying over $100 for one now feels... Unwise. It's a status symbol, and like all status symbols, its status is temporary. If you absolutely love the look and have the disposable income, go for it. But don't buy it thinking it's a long-term investment.
The Toffee LABUBU is the collector's choice. It's just as well-made, the design is just as charming, and it's infinitely more practical for daily life. Its value is more stable and rooted in genuine appreciation for Kasing Lung's art. If a friend asked me which one to get, I'd point them toward Toffee nine times out of ten. It's the one that will still be on your bag a year from now, looking just as good.
A Quick Word on Fakes
With hype this big, fakes are inevitable. And they are getting scarily good. We've seen a flood of counterfeit Soymilk and Toffee plushes. Here are a few things to look for that I've personally spotted on fakes we've examined:
* The Snout: Fakes often have a slightly longer or pointier snout. The authentic LABUBU has a very specific, rounded, almost pouty mouth shape. * The Ears: The ears on an authentic Macaron plush are super floppy and soft. Fakes often have stiffer ears that don't have the same playful droop. * The Tag: This is the biggest giveaway. The font on the paper tag of a fake is often slightly off, a little too bold or thin. The QR code is another dead giveaway. An authentic one takes you to a POP MART verification page. A fake one might go to a 404 error, a generic website, or just not scan at all. * The Chain: The metal chain and clasp on the real deal have a nice weight and a quality finish. Fakes use cheap, lightweight metal that feels flimsy and often has a slightly different color.
The market is treacherous. If a price seems too good to be true, it absolutely is. Stick to reputable sellers. For a deeper look at identifying fakes, our guide on the Exciting Macaron series has more photo examples.
Ultimately, whether you're Team Soymilk or Team Toffee, the joy of collecting is finding the piece that speaks to you. Don't just follow the hype. Take a look at the whole lineup, see what makes you smile, and go from there. And if you're ready to start or grow your collection, you can always browse LABUBU figures with us, where we guarantee everything is 100% authentic.
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