Mei Ri Jing Ji Xin Wen·2025-06-26 10:17Core Viewpoint - The recent popularity of Pop Mart's LABUBU dolls represents a successful global expansion of Chinese trendy toys, driven by long-term brand building and effective IP management [1][4]. Group 1: Brand Success Factors - Pop Mart's success is attributed to its ability to create visually distinctive IPs that resonate with Generation Z, such as Molly and LABUBU, which cater to the emotional value and self-expression needs of young consumers [4][10]. - The company has effectively utilized new retail strategies, including pop-up stores, live-streaming sales, and influencer marketing, to capture consumer attention in the mobile internet era [4][12]. - The transformation of trendy toys from niche culture to mainstream products is a result of localized re-creation and refined brand operations [8][9]. Group 2: Globalization Insights - Pop Mart's success indicates that domestic original IPs can achieve cross-cultural aesthetic resonance, allowing Chinese brands to move beyond traditional OEM paths and realize global premium pricing through originality [9][10]. - The development of short videos and social networks has accelerated the global popularity of trendy toy IPs, highlighting the importance of digital marketing in contemporary consumer engagement [12][13]. - Localized strategies, such as opening physical stores abroad and adapting IPs to fit local preferences, are crucial for successful international expansion [12][13]. Group 3: Business Model and Competitive Edge - The core logic of the trendy toy industry involves multi-IP matrix operations, as relying on a single hit IP is insufficient for long-term brand sustainability [15][16]. - Pop Mart's approach emphasizes continuous operation of new characters to meet diverse consumer preferences, reflecting the varied aesthetic demands across different cultural backgrounds [15][16]. - The company's business model innovation and operational capabilities are key to its market penetration and consumer loyalty, as evidenced by increased purchase frequency following blind box experiences [15][16].