POP MART(HK:09992) Cai Jing Wang·2025-08-29 07:46Core Insights - The launch of the mini version of LABUBU by Pop Mart on August 28 was highly anticipated, with over 200 million viewers on their Tmall live stream before the sale started [1] - The mini LABUBU sold out within one minute across multiple platforms, indicating strong demand [1] - The mini LABUBU is designed to be more versatile, with a height of 10.5 cm and the ability to be attached to bags or phones, differentiating it from the regular version [1] Sales Performance - The mini LABUBU achieved 13,000 orders within 2 minutes of launch, totaling over 21,000 orders by the next morning, with 82,000 users expressing interest [1] - The blind box pricing shows significant markup, with individual boxes selling for 168-182 yuan shortly after release, and average transaction prices nearly doubling on resale platforms [2] Company Perspective - Pop Mart's CEO Wang Ning highlighted the potential of the mini LABUBU as a "super hit" and emphasized the commercial value of a globally recognized IP [2]