POP MART(HK:09992) Qi Lu Wan Bao·2025-06-12 11:25Core Viewpoint - The LABUBU brand has gained significant popularity, evidenced by a recent auction where 48 LABUBU artworks sold for a total of 3.73 million yuan, highlighting its status as a valuable IP [2] Group 1: Market Demand and Trends - The LABUBU brand is experiencing high demand, with official channels unable to meet supply, leading to the emergence of counterfeit products [5] - Similar IPs such as "Lagogo," "Lafufu," and "Lababa" have started appearing in the market, indicating a trend of imitation driven by LABUBU's success [4] - In Shenzhen, various merchants have introduced LABUBU-themed gold jewelry, priced affordably, which has become popular among young consumers [12][13] Group 2: Counterfeit Concerns - Counterfeit products like "Lafufu" have been criticized for poor quality, with issues such as asymmetrical features and lack of mobility [7] - Merchants selling gold versions of LABUBU claim their products are not exact replicas, raising questions about potential copyright infringement [15] - The official LABUBU brand has not authorized any gold jewelry production, and any such products may be considered counterfeit [15] Group 3: Legal Implications - Unauthorized production and sale of LABUBU-themed items may infringe on the copyright held by the brand, allowing for legal action against infringing parties [17] - If the LABUBU design is trademarked, using similar branding could lead to trademark infringement claims [18] - Serious violations could result in civil liabilities and administrative penalties from market regulators [19][20]