POP MART(HK:09992) 21世纪经济报道·2025-06-12 15:39Core Viewpoint - The article discusses the skyrocketing popularity and market dynamics of Labubu, a character from Pop Mart, highlighting the extreme price inflation of its merchandise and the unpredictability of its market value [1][15][18]. Group 1: Event and Market Reaction - A themed pop-up event for Labubu in Chengdu saw its reservation tickets sell out instantly, with scalpers reselling them for 500 yuan, a staggering 50,000 times the original price of 0.01 yuan [1][2][3]. - The previous pop-up event in Shanghai also experienced overwhelming demand, leading to many fans missing out on reservations [3]. Group 2: Consumer Sentiment and Scalping Issues - Many consumers expressed discontent with scalping practices on social media, calling for stronger anti-scalping measures from the official organizers, such as real-name registration and facial recognition [8]. - Labubu merchandise, such as a rubber hanging ornament originally priced at 199 yuan, is being resold for over 1,000 yuan on secondary markets [8]. Group 3: Auction Prices and Historical Context - At an auction, a rare mint green Labubu sold for 1.08 million yuan, while a limited edition brown Labubu fetched 820,000 yuan [11]. - A previous owner of two Labubu figures sold them for over 300,000 yuan after initially purchasing them for just over 100,000 yuan, indicating significant price appreciation [12]. Group 4: Market Dynamics and Future Uncertainty - The article notes that the rise and fall of IPs like Labubu are unpredictable, with no clear patterns to forecast their popularity [15][17]. - The market for collectible toys often experiences volatility, with past trends showing that once-popular items can lose value significantly over time [18].