POP MART(HK:09992) Sou Hu Cai Jing·2025-06-09 09:10Core Insights - Labubu has emerged as a phenomenon in China's outbound branding, becoming a top IP in the cross-border e-commerce market [1][3][19] Group 1: Market Performance - Labubu has become the top search term on AliExpress ahead of the overseas 618 shopping festival, indicating its rising popularity [2][3] - Sales of the Labubu 3.0 series have surged globally, with year-on-year growth of approximately 800% in the U.S. and 600% in Europe [3][6] - Bubble Mart reported a significant revenue increase of 165%-170% in Q1 2025, with overseas market revenue growing by 475%-480% [6][7] Group 2: Product Popularity - Labubu-related products have seen a dramatic increase in search volume on Amazon, with "Labubu" entering the top ten search terms [8][9] - The most popular category is Labubu-themed clothing, with top-selling items achieving over a thousand sales in the past month [9][12] - Labubu's merchandise is also performing well on other platforms like Temu, with thousands of units sold [12] Group 3: Marketing and Branding - Celebrity endorsements from figures like BLACKPINK's Lisa and David Beckham have significantly boosted Labubu's visibility [17] - User-generated content on platforms like TikTok has created viral marketing effects, enhancing Labubu's brand presence [17] - Labubu's collaboration with local artists and brands, such as ZARA, has helped position it as a luxury accessory, increasing its market appeal [17][18] Group 4: Consumer Behavior - Labubu appeals to two main consumer groups: those seeking emotional fulfillment and those viewing it as an investment [18][19] - The pricing strategy in markets like the UK ranges from £13.5 to £50, with rare items reselling for hundreds of pounds on platforms like eBay [18] Group 5: Future Implications - The success of Labubu demonstrates the viability of an IP-centric business model for sustainable global operations [19]