POP MART(HK:09992) Guan Cha Zhe Wang·2025-06-17 08:41Core Insights - The popularity of Labubu, a Chinese toy brand, is surging internationally, particularly through the platform AliExpress, which will launch limited edition products during the overseas 618 shopping festival [1][2] - Labubu's success is seen as a significant opportunity for collaboration between Chinese cross-border e-commerce platforms and local brands, with sales on AliExpress skyrocketing, making "Labubu" the top search term and leading to a 300% year-on-year increase in GMV for the toy category [1] Group 1 - Labubu's appeal lies in its cute design and versatility, attracting a growing number of overseas fans and sparking global discussions about the charm of Chinese toys [2] - Morgan Stanley notes that Labubu's ongoing popularity is reminiscent of Hello Kitty's 50th anniversary, highlighting similarities in character design and commercial strategies [2] - Chris Pereira, CEO of iMpact, emphasizes that Labubu represents a new approach for Chinese brands to go global, focusing on showcasing cuteness rather than explaining Chinese culture [2]