POP MART(HK:09992) Di Yi Cai Jing·2025-09-13 14:29Core Insights - The article highlights the presence of Pop Mart's store in the bustling Hongdae area of Seoul, where Labubu products are not available for direct sale but can be pre-ordered online for in-store pickup [1] - Counterfeit versions of Labubu are being sold on the streets of Hongdae, with local sources indicating that these knockoffs are priced similarly to the authentic products, around 20,000 KRW (approximately 100 RMB) [1] Company Overview - Pop Mart's strategy includes showcasing Labubu products in-store while requiring customers to reserve them online, indicating a focus on exclusivity and controlled distribution [1] - The presence of counterfeit products in the market suggests a strong demand for Labubu, reflecting its popularity and potential market challenges for Pop Mart [1] Market Dynamics - The pricing of counterfeit Labubu products at a similar level to the authentic ones indicates a competitive market environment, which may impact consumer perception and brand value [1] - The trend of online pre-ordering for in-store pickup may influence consumer behavior and shopping patterns in the collectible toy market [1]