A fresh wave of Nike Dunk Low Panda is on its way, but this time it feels different. The release strategy appears to borrow from Labubu’s playbook; the collectible monster dolls have become a global sensation. With a dozen new colorways and a blind box release, Nike is testing a new future for its iconic sneaker.
The original black-and-white Dunk, nicknamed the “Panda,” became a streetwear staple. Now, Nike is expanding the concept. Recent leaks reveal that the panda is more than just a color scheme—it’s a character. An embossed panda head is tucked behind the tongue tag, and some models have a removable leather patch on the laces. Upcoming fall 2025 versions experiment with hairy suede textures and new color pairings, such as blue and gold. These releases, including the “Light Violet Ore Panda,” are part of the Dunk’s 40th-anniversary celebration.
This strategic shift comes at a critical time. In fiscal year 2024, the Dunk franchise generated an estimated $5.85 billion, accounting for a significant portion of Nike’s footwear sales. However, analysts predict that sales could fall sharply as the company intentionally scales back distribution to combat market oversaturation. Nike leadership has confirmed that aggressive actions are being taken to manage the Dunk’s lifecycle.
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You might be wondering what a sneaker has to do with a plush toy. Labubu is a series of monster-like elf figures created by artist Kasing Lung that became wildly popular through the Chinese retailer Pop Mart. A key part of their appeal is the blind box format: you don’t know which variant you’ve purchased until you open it. This has fueled a massive collector and reseller market, with counterfeits even appearing to meet demand. Celebrities have been seen carrying Labubu dolls, turning the toy into a fashion accessory.
Nike is directly tapping into this collecting phenomenon. A “Panda-monium” release is expected in August 2025 and will reportedly be sold in sealed, opaque bags. You could get the classic black-and-white design or an olive-and-brown version, both of which feature a unique bouclé-like material. This isn’t Nike’s first time using this tactic. The company previously experimented with mystery releases for its Huf SB Dunk Low collaboration and the Air Jordan 9 “Baseball Glove” edition.
The question remains whether this strategy can successfully revitalize a sneaker that many felt had become too common. With the first batch of these new Panda Dunks scheduled for release soon, the sneaker community is watching closely to see if this collectible toy model can usher in a new era for the Dunk.
