热搜第一！Labubu，价格崩盘！

Core Insights - The price of Labubu collectibles has plummeted significantly due to a large restock by Pop Mart, leading to a 45% drop in the price of Labubu 3.0 boxes and over a 38% decline in the hidden variant "Ben Wo" [3][4] - The restock began on June 18 and was characterized by multiple notifications across various platforms, indicating a higher-than-usual supply, which increased consumer demand and competition [3][4] - The drastic price drop has affected the entire Labubu series, with average prices for the "Qian Fang Gao Neng" series falling nearly 48% from 2279.7 CNY to 1181.3 CNY [4][5] Price Trends - Prior to the restock, the price range for regular Labubu items was between 292 CNY and 510 CNY, while the hidden variant "Ben Wo" was priced at 4699 CNY, indicating a drop of over 50% in just a week [5] - The Labubu 3.0 blind box prices have also seen a decline of approximately 50%, with the price for a full box dropping from 1500-2800 CNY to 650-800 CNY [5] Market Impact - The significant price drop in the secondary market has led to a decline in Pop Mart's stock price, which fell over 5% on June 19, marking a cumulative drop of over 12% from its peak on June 12 [7] - Pop Mart's stock had previously surged from around 85 HKD per share at the beginning of the year to a high of 283.4 HKD on June 12, representing a maximum increase of 233% [7] Company Actions - In response to the high demand and negative consumer experiences, Pop Mart has optimized its sales process by initiating online pre-sales to improve accessibility for consumers [4] - The company has also temporarily halted offline sales of Labubu products in South Korea due to safety concerns, prioritizing customer safety and service quality [6] Legal Issues - Customs authorities have been active in addressing copyright infringements related to Labubu products, with significant quantities of infringing toys being seized [7]