3 6 Ke·2025-06-13 11:24Group 1 - LABUBU has transformed from an underperforming IP to a trending fashion item, gaining significant popularity both domestically and internationally, especially after collaborations and social media exposure [1][3][6] - The recent LABUBU 3.0 series has seen severe shortages in official channels, with second-hand market prices soaring, indicating high demand and consumer interest [3][6] - LABUBU's rise has positively impacted the stock price of Pop Mart and expanded its recognition in overseas markets, showcasing the power of successful IP in driving business growth [6][41] Group 2 - The phenomenon of "counterfeit LABUBU" has emerged, with demand for these products exceeding supply, highlighting the brand's popularity and the challenges of pricing in the market [7][20][21] - The trend of customizing LABUBU dolls has gained traction among consumers, allowing them to express individuality and creativity, further enhancing brand loyalty [22][24][26] - The surge in demand for LABUBU-related products, including custom outfits and accessories, has revitalized small businesses and created new economic opportunities, indicating a thriving derivative economy [30][33][41]