Core Viewpoint - The recent popularity of the LABUBU IP from Pop Mart signifies a critical leap in China's IP economy, driven by cultural confidence and commercial innovation [1][4][5] Group 1: LABUBU's Popularity and Market Impact - LABUBU, a character created by artist Long Jiasheng, has gained global attention, with limited edition figures fetching high auction prices, such as 1.08 million RMB for a unique piece [1][2] - The LABUBU 3.0 series launched in April 2023 has led to a surge in demand, with celebrities like Rihanna and David Beckham promoting the brand, further increasing its visibility [2] - Pop Mart's stock price has risen over 200% since the beginning of the year, with a market capitalization exceeding 360 billion HKD [2] Group 2: Financial Performance - The THE MONSTERS series, which includes LABUBU, is projected to generate 3.04 billion RMB in revenue for 2024, marking a 726.6% year-on-year increase, making it Pop Mart's top IP [2] - For the full year of 2024, Pop Mart expects total revenue of 13.04 billion RMB, a 106.9% increase, with adjusted net profit reaching 3.4 billion RMB, up 185.9% [2] - In Q1 2025, Pop Mart reported a revenue increase of 165% to 170%, with domestic revenue growing by 95% to 100% and overseas revenue soaring by 475% to 480% [2] Group 3: Broader Industry Trends - The success of LABUBU has positively influenced the A-share market, with increased interest in IP economy stocks [4] - China has emerged as the fourth-largest licensing market globally in 2023, with retail sales of licensed goods and services nearing 100 billion RMB [4] - The rise of China's IP economy is attributed to the generational shift in consumer preferences, with younger consumers seeking emotional connections and community recognition [4][5] Group 4: Future Outlook - Experts believe that the Chinese IP economy is transitioning from quantitative to qualitative changes, focusing on original storytelling, technological integration, and global operational capabilities [5] - Companies are encouraged to move beyond reliance on traffic and cultivate the long-term emotional connections of their IPs to withstand industry cycles [5]
LABUBU爆火 专家指中国IP经济经历“关键跃迁”
Zhong Guo Xin Wen Wang·2025-06-14 03:11