罗永浩抢不到！LABUBU，中国故事待续

Core Viewpoint - The LABUBU craze, driven by its unique appeal and celebrity endorsements, has sparked significant consumer interest and market dynamics, raising questions about its sustainability and potential risks in the blind box economy [2][4][10]. Group 1: Product and Market Dynamics - LABUBU, created by Hong Kong artist Long Jiasheng, gained popularity after its commercial launch in collaboration with Pop Mart in 2019, leveraging celebrity endorsements to enhance its visibility [4][10]. - The product has seen extreme consumer behavior, including fights among buyers in the UK and long queues in the US, indicating a high demand and cultural impact [2][10]. - A sculpture of the original LABUBU sold for 1.08 million RMB, showcasing the product's high market value and collectible status [2]. Group 2: Investment and Financial Implications - Fund managers express confusion over the blind box economy, traditionally focusing on established brands like Moutai and Wuliangye, indicating a potential gap in understanding new market trends [5]. - The financialization of collectible toys like LABUBU is being compared to previous trends in sneaker and digital collectibles speculation, raising concerns about market stability and the potential for a bubble [12][14]. - The collectible nature of LABUBU is driven by a niche audience, primarily young consumers, who are motivated by passion rather than investment potential, suggesting a need for caution in treating these products as financial assets [12][14]. Group 3: Cultural and Social Impact - The LABUBU phenomenon is part of a broader trend in the "二次元经济" (secondary dimension economy), appealing to younger consumers through personalized and trendy products [9][10]. - Concerns about the addictive nature of blind box products and their impact on youth have been raised, although regulatory measures have been implemented to mitigate risks [16][20]. - The success of LABUBU reflects a growing trend of Chinese cultural products gaining global traction, emphasizing the need for innovative approaches to leverage China's manufacturing capabilities and creative potential [20].