连贝克汉姆都上头，Labubu在全球杀疯了！

Core Viewpoint - The Labubu 3.0 series from Pop Mart is experiencing significant popularity in the global market, particularly in the US and Europe, driven by celebrity endorsements and social media engagement [1][2][3]. Sales Performance - In April, sales in the US and EU markets increased approximately 8 times and 5 times year-on-year, respectively, indicating the successful penetration of Labubu 3.0 in these regions [3][4]. - Online sales through e-commerce platforms in China saw a year-on-year growth of 287% in April, with significant contributions from platforms like Tmall, JD, and Douyin [5]. Social Media and Brand Influence - Pop Mart's TikTok followers in the US grew from 431,200 in March to 722,900 in April, marking a 68% increase, and the brand ranked first in TikTok retail sales in April [4]. - The Labubu 3.0 series is increasingly being used as a fashion accessory by celebrities and KOLs, enhancing its appeal in the fashion sector [1][2]. Retail Expansion - Pop Mart plans to open 110 new retail stores overseas and 20 in the domestic market, aiming for a total of approximately 650 stores by the end of 2025 [5][8]. - The company has opened 14 new retail stores this year, focusing on landmark and cultural locations to provide immersive experiences for consumers [4]. Financial Projections - According to Bank of America, Pop Mart's revenue is expected to reach HKD 22.601 billion and net profit HKD 6.5 billion by 2025, reflecting a year-on-year growth of 91% [8]. - The current stock price of Pop Mart is around HKD 207, corresponding to a price-to-earnings ratio of 42.42 times for 2025, which is considered attractive given the company's growth prospects [8][7].