LABUBU爆火的三个底层逻辑

Core Viewpoint - The LABUBU brand, a top-tier IP in the trendy toy industry, has recently gained significant popularity, raising questions about the sustainability of this trend and the reasons behind its sudden success [2][4]. Group 1: LABUBU's Success Factors - LABUBU's success is attributed to the emotional value consumption model, which combines emotional value, ecological closure, and industrial synergy to create a long-term lifecycle for the IP [2]. - The brand leverages community co-creation to enhance IP value, transforming consumers into IP dissemination nodes through various social activities, such as customizing toys and creating unboxing videos [2]. - A brand stratification strategy, along with global and local market adaptations, has laid a solid foundation for LABUBU's popularity, with product prices ranging from tens to thousands of yuan, catering to a broad consumer base [3]. Group 2: Market Expansion and Performance - In the past two years, LABUBU has adopted a localized "going global" strategy, launching region-specific limited editions that have garnered international attention, resulting in a 475% to 480% year-on-year increase in overseas business revenue in Q1 2025 [3]. - As of the end of 2024, the company has opened over 500 stores in more than 30 countries and regions, reaching over 90 countries through various cross-border e-commerce platforms [3]. Group 3: Supply Chain and Production Capacity - The Guangdong-Hong Kong-Macao Greater Bay Area provides a robust industrial chain support for LABUBU, with a complete toy supply chain in Dongguan ensuring stable production capacity, which has reached 10 million units per month by 2024 [3]. - The collaboration with artist Long Jia-sheng from Hong Kong infuses cultural elements into the IP, enhancing its appeal and marketability [3]. Group 4: Longevity and Cultural Transformation - Despite concerns about the lifecycle of trendy toy IPs, LABUBU's potential for longevity is linked to its narrative depth and the creation of a comprehensive universe that includes other characters, thereby extending user engagement [4]. - The success of LABUBU reflects a broader trend of Chinese manufacturing transitioning towards cultural creation, integrating design, manufacturing, and global operations to transform niche art into mainstream emotional symbols [4].