拉布布缘何风靡全球

Core Insights - The "Labubu" toy, launched by Chinese company Pop Mart, is rapidly gaining popularity globally, becoming a cultural connector among young people across different countries [2][4][5] - Despite a nearly 30% price increase due to rising tariffs, demand remains high, leading to long queues and a booming secondary market in the U.S. [2][5] - The success of Labubu signifies a new era for Chinese original IPs, moving away from traditional symbols to a more globalized approach [5][6] Group 1: Market Performance - In April, Pop Mart's app surged to the top of the U.S. App Store shopping chart, climbing 114 spots to reach fourth place [2] - The overseas and Hong Kong-Macau-Taiwan business revenue for Pop Mart is projected to reach 5.07 billion yuan in 2024, marking a year-on-year increase of 375.2% [5] - In the first quarter of 2025, overseas revenue is expected to grow by 475% to 480% year-on-year, highlighting the international expansion of the toy segment [5] Group 2: Cultural Impact - Labubu's unconventional design challenges traditional aesthetic standards, creating a unique emotional attachment among its audience [3] - The toy has been recognized in various countries, such as being named "Magical Thailand Experience Officer" in Thailand and selling out limited editions in Singapore [2][4] - The cultural exchange facilitated by China's open policies is enhancing global understanding and appreciation of Chinese culture, providing fertile ground for original IP growth [6] Group 3: Industry Dynamics - The production network in Dongguan, which supplies over 70% of Pop Mart's capacity, is crucial for the toy's manufacturing, with the region housing over 4,000 toy companies [4] - Hong Kong serves as an artistic hub, contributing to the creative aspect of Pop Mart's products, with the founder actively seeking design talent at art fairs [4] - Challenges such as counterfeit products and the rise of AI-driven alternatives pose risks to the brand's value and require enhanced supply chain management [6]