POP MART(HK:09992) 3 6 Ke·2025-06-27 08:24Core Insights - LABUBU, a Chinese toy brand, has gained global popularity, with significant demand in cities like Hangzhou, Los Angeles, Tokyo, and London, driven by emotional value and strategic marketing efforts by Pop Mart [1][12] - The brand's success is attributed to social media platforms, particularly TikTok, which has amplified its visibility and engagement among consumers and celebrities [1][20] Group 1: Market Performance - LABUBU's official price of 499 RMB has surged to 4000-4999 RMB in the second-hand market, marking an increase of nearly 10 times [3] - The unique mint-colored LABUBU sold for 1.08 million RMB at the Yongle 2025 Spring Auction, highlighting its high market value [4][6] - Pop Mart's overseas revenue is projected to increase by 375% in 2024, accounting for nearly 40% of total revenue [6] Group 2: Cultural Impact - LABUBU has transcended being a mere toy to become a cultural symbol, with endorsements from global celebrities like Lisa from BlackPink and David Beckham, enhancing its appeal [8][11] - The brand's ability to integrate into various cultural contexts, such as collaborations with famous artworks in France and local adaptations in Thailand, has contributed to its global acceptance [10][12] Group 3: Marketing Strategy - Pop Mart's global strategy emphasizes cultural adaptation by collaborating with local artists to incorporate regional elements into toy designs, successfully penetrating international markets [21] - The company utilizes a dual-channel approach, combining high-profile physical stores in prime locations with a strong online presence, particularly on TikTok, to reach diverse consumer segments [23][24] Group 4: Social Media Influence - TikTok has played a crucial role in LABUBU's rise, with over 1.8 million videos related to the brand, generating over 1 billion views, showcasing the power of user-generated content [16][20] - The platform's interactive nature allows for real-time consumer engagement, significantly enhancing brand visibility and driving sales through direct links to TikTok Shop [25][27] Group 5: Industry Trends - The Chinese IP derivative retail market is projected to grow from 71.5 billion RMB in 2022 to over 100 billion RMB by 2027, indicating a robust growth trajectory for brands like LABUBU [28] - TikTok is emerging as a vital channel for Chinese brands to reach global markets, facilitating a more efficient and effective approach to international expansion [31]