Sou Hu Cai Jing·2025-05-31 13:55Core Insights - The company has successfully broken cultural barriers and achieved rapid growth in overseas markets through localized IP design, regional operational strategies, and culturally empathetic marketing [2][4]. Group 1: Localized IP Design - Transition from "cultural output" to "cultural symbiosis" with localized IP designs [2]. - Southeast Asia market saw a revenue increase of 619.1% in 2024, driven by the LABUBU Thailand limited edition incorporating Thai princess dress elements [2]. - North American market growth of 556.9% attributed to the collaboration with the Louvre, integrating famous art elements [2]. - Over 400 local artists signed on a global designer platform, enhancing cultural recognition, such as K-POP themed blind boxes designed by local artists [2]. Group 2: Regional Operational Strategies - Differentiated channels in the European market using "collaboration tactics," such as football-themed products in London and Olympic limited editions in the Louvre store [2]. - In Asia, the Korean Myeongdong store focuses on K-POP trends, while Japanese stores introduce "Sakura season" limited series [2]. - Pricing adjustments in North America with LABUBU series priced at 203 yuan (compared to 99 yuan domestically), achieving a gross margin of 75% [2]. - TikTok user-generated unboxing videos exceeded 5 billion views, while the LABUBU 3.0 series generated over 4 million reads on Xiaohongshu [2]. - Collaborations with local celebrities in Southeast Asia enhance brand affinity through offline events [2]. Group 3: Organizational Structure Innovation - Adoption of a "center-multi-core" model granting regional headquarters decision-making authority, exemplified by the European team's independent planning of the Louvre collaboration [2]. - 90% of overseas store employees are locals, ensuring seamless service and alignment with consumer needs [2]. Group 4: Supply Chain and Cultural Compliance - The company’s strategy of "global IP + local culture" has proven effective, with overseas revenue projected to account for nearly 30% in 2024 [4]. - Future focus on deepening cultural empathy and supply chain agility is essential for further global expansion [4]. Group 5: Supply Chain Management - Establishment of a factory in Vietnam has reduced logistics costs by 30% and mitigated tariff risks [5]. - Introduction of biodegradable blind boxes aligns with sustainable consumption trends in Europe and the U.S. [5]. - Need for accelerated new IP incubation, as Molly still accounts for 16% of the portfolio [5]. - Implementation of blockchain traceability technology to enhance global supply chain transparency [5].