The first time I ever saw a Petite Blythe, I thought they were kind of manic-looking and felt intensely relieved that I wouldn't feel the need to collect yet another thing obsessively. (Ho ho ho. Oh, past-me, you underestimated yourself yet again.) I still don't actually own a Takara Petite Blythe, but I do own rather a lot of the adorable LPS Blythes that completely broke my 11.2cm resolve.
The LPS Blythes are quite different from the Takara Petites, with most differences basically boiling down to the fact that the LPS ladies are cheaper, and aimed far more at a younger audience than the Takara girls. I don't own a Takara currently, but basically the impression I get is that the Takaras are better quality. There's a super helpful video outlining all the differences you can see here. However, despite their 'cheapness' (which is actually a characteristic I rather like!) the LPS Blythes are still very, very cute.
Affordability has been a major factor in how many of these little ladies I have bought - especially seeing as how TK Maxx in the UK seems to always have a few half price hanging around. I think around 75% of my LPS Blythes were bought there at that kind of discount. It adds up! There are so many awesome releases and I don't think I can say no to a single one of them. (You can see a full release list on this Flickr group. An up-to-date list of my own modest LPS family is on their Flickr set.)
One downside of the LPS ladies - which certainly doesn't seem to be stopping anyone - is that they're slightly more resistant to customising. Unlike the Takaras, their head is one solid piece of plastic, which makes rerooting and eye changing potentially that bit more of a chore (though - not impossible.) I'm currently working on an LPS reroot myself, so watch this space! Although, the LPS ladies already come in such a variety of hair colours, there's not any particular need - I just like rerooting. (Edited to add: Please check out the comments down below re: customisability from some people who know a lot more than I've picked up from a few youtube videos and photos!)
My LPS hero is Care, whose photostream, blog and etsy shop you should definitely have a bit of lurk on! She makes the most amazing LPS/Petite clothes that I absolutely love (see above photo) and can't even begin to imagine making anything that small so beautifully. Plus, she has an LPS family I can but aspire to. One day... ;)