You've seen it. That soft, gentle, almost-grey LABUBU from the Macaron series. It's been all over your feed, styled perfectly on an IKEA shelf next to a succulent. You want it. But when you search for "grey labubu macaron," you get a flood of images but no clear name.
Let's clear this up right now. The grey LABUBU name from the Exciting Macaron series is Soy Milk.
There. Simple.
But the story is so much better than the name. As someone who has handled, sold, and collected hundreds of these little monsters for my shop, PopNya, the journey of the Soy Milk LABUBU is a fascinating case study in what makes a designer toy truly resonate with people. It's not the rarest. It's not the most expensive. But it has something the others don't: staying power.
A Quick Trip Back to Macaron Madness
To understand the Soy Milk phenomenon, you have to remember the absolute chaos of the release. If you're asking when did labubu macaron come out, you probably weren't in the trenches with us. The "The Monsters Exciting Macaron" series by Pop Mart dropped in July 2023, and the toy community collectively lost its mind.
It wasn't just hype. It was a perfect storm. Kasing Lung's LABUBU was already a star, but this series, with its adorable vinyl faces peeking out of fluffy plush macaron shells, was a new level of cute. The initial stock images were insane. The colors were vibrant. We knew it was going to be a bloodbath.
And it was.
I remember trying to secure cases for PopNya. The pre-orders sold out in minutes. The day of the drop, Pop Mart's site crashed. Resellers were listing full sets for double, sometimes triple the price before the toys even shipped. In the middle of all this, everyone was clamoring for the obvious stars: the vibrant pink Lychee, the moody Black Bean, and of course, the secret chase figure, Chestnut Cocoa.
No one was talking about Soy Milk. It was just... There. The quiet, neutral one in a box full of loud, exciting macaron colors.
The Slow, Steady Rise of Soy Milk

In the first few weeks, the secondary market reflected this initial hype. A blind box retailed for about $17 USD. Here's how the individual figures were trending on aftermarket sites in the first month:
* Chestnut Cocoa (Secret): $150 - $200+ * Toffee (Chase): $45 - $60 * Lychee & Green Grape: $25 - $35 * Sea Salt Coconut & Black Bean: $20 - $25 * Soy Milk: $18 - $22
Soy Milk was, predictably, at the bottom. It was the one you got when you were hoping for Lychee. It was the "common."
But then, a funny thing happened. As the initial hype wave crested and broke, the market started to settle. The prices for most of the regular figures slowly drifted back down toward retail. All except one. Soy Milk started to climb. Not dramatically, not like a hot stock, but slowly and steadily.
Today, a Soy Milk LABUBU consistently sells for $30-$40, often more than the once-more-popular Lychee or Green Grape. Why? Because collectors aren't just hypebeasts. We're also aesthetes. We're photographers. We're interior decorators.
And Soy Milk is the most aesthetically versatile LABUBU ever made.
It's not truly grey. It's a warm, creamy off-white, the color of actual soy milk. But under the cool, blue-toned light of a phone screen or in a minimalist, white-walled room, it reads as a sophisticated, gentle grey. This chameleon-like quality makes it incredibly photogenic. It doesn't clash with anything. It looks good with wood grain, with concrete, with pastels, with bright colors. It's the white t-shirt of the LABUBU world. It just works.
This is a detail you only notice after seeing hundreds of customer photos and staging your own product shots. The darker figures, like Black Bean, can get lost in shadow. The brighter ones, like Green Grape, can sometimes overwhelm a scene. Soy Milk just sits there, looking effortlessly cool.
Real Talk: A Seller's Honest Perspective
Here's my "Our Take" as someone who runs a designer toy store. Soy Milk is the figure I get the most specific requests for after the initial release hype has died down. In the first month, everyone wants the chase. Six months later, my DMs are full of people asking, "Do you have just the Soy Milk one? I don't want to buy a whole blind box."
That tells me everything. This isn't a figure people are buying to flip. This is a figure people are buying to keep. To display. To love.
Another thing I've noticed from handling so many of them: the quality control on the Soy Milk seems particularly good. Maybe it's because the neutral color is more forgiving, but I've seen fewer paint smudges or defects on Soy Milk compared to some of the others. The matte finish of the vinyl face, a signature of the Macaron series, looks especially premium on this colorway. It doesn't show fingerprints like the darker, shinier faces of other series, a small but appreciated detail for those of us who are constantly rearranging our shelves. This is a subtle difference from, say, the glossier faces on the Have a Seat Labubu V2 series, which are beautiful but a magnet for fingerprints.
A Collector's Playbook: Buying the "Grey" LABUBU
So you've decided you need Soy Milk in your life. Smart move. Here's what you need to know.
1. Don't Bother with Box Tricks: I see videos claiming you can shake the box or weigh it to find a specific figure. For this series, it's complete nonsense. I've personally weighed dozens of sealed Macaron boxes for inventory. The weight difference is negligible, usually within 2-3 grams. The plush macaron shell acts as a perfect buffer, masking any difference in the inner vinyl figure. You cannot shake your way to a Soy Milk. Save yourself the embarrassment at the store.
2. Watch Out for Fakes: The Macaron series is one of the most counterfeited LABUBU lines, period. The fakes are getting alarmingly good. For Soy Milk, the biggest giveaway is the color and finish. * Color: Fakes are often too white or too grey. The authentic Soy Milk has a distinct warm, creamy, oaty tone. * Finish: Fakes often have a slight sheen or are too glossy. The real deal has a beautiful, uniform matte finish on its face. * Feet Stamps: The "Kasing Lung" and "Pop Mart" stamps on the bottom of the feet should be crisp and clean. On fakes, they are often blurry, thick, or use the wrong font.
I can't stress this enough. If you see a deal that looks too good to be true on a platform like AliExpress or Temu, it is. For a deeper dive into this, my honest Labubu Macaron buyer's guide breaks down more ways to spot a fake.
3. Where to Buy: * Blind Box: Your best bet for a retail-price shot is an official Pop Mart store or a trusted retailer (like, ahem, PopNya when we have them in stock). You're playing the odds, but it's part of the fun. * Secondary Market: For a guaranteed Soy Milk, you'll need to hit the aftermarket. EBay, Mercari, and specialized Facebook groups are your friends. Expect to pay that $30-$40 premium. Look for sellers with good ratings and clear photos of the actual figure, not just stock images. * Trading: This is the heart of the community! If you pull a double or a figure you don't love, jump into a collector group.The hunt is part of the experience. The Macaron series frenzy was something else, maybe only rivaled by the hype for the Big into Energy release. But the quiet, enduring popularity of one specific, non-chase figure is what makes collecting so interesting.
This little "grey" monster is proof that in the loud, colorful world of designer toys, sometimes the most beloved piece is the one that whispers instead of shouts. It's a lesson in subtlety, and it's why, even surrounded by flashier figures, the Soy Milk LABUBU holds a special place on my shelf.
If you're building your collection and trying to decide what to get next, you can't go wrong with this one. It's a modern classic.*
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