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Labubu,全球年轻人疯抢的“中国奢侈品挂件”
创业邦· 2025-06-02 09:45
Core Viewpoint - The article discusses the rapid rise of Labubu, a character from the THE MONSTERS series, as a new cultural phenomenon and potential global IP, drawing comparisons to Hello Kitty and highlighting its success in various markets, particularly in North America and Europe [9][19][20]. Group 1: Market Performance - Labubu has gained immense popularity, with sales in the U.S. and Europe increasing approximately 8 times and 5 times year-over-year, respectively [18]. - The Labubu 3.0 series achieved a remarkable sales figure of $1.5 million (approximately 10.78 million yuan) in just 8 hours during a TikTok Shop live stream [14]. - In April 2024, the POPMART US SHOP reached monthly sales of $6-7 million (approximately 43-50 million yuan), becoming the top seller on TikTok Shop in the U.S. [15]. Group 2: Cultural Impact - Labubu has been embraced as a "social currency," with limited editions being resold at prices up to five times their original value [4]. - The character's unique design, which breaks traditional cute toy stereotypes, resonates with younger consumers, leading to a viral trend of customization and personal expression [22][31]. - Labubu's association with celebrities like Lisa from BLACKPINK and Rihanna has significantly boosted its visibility and desirability in the fashion world [25][27]. Group 3: Brand Strategy - The success of Labubu is attributed to effective marketing strategies, including localized approaches and collaborations with well-known IPs like Disney and Harry Potter [48][52]. - The character has been given a personality and backstory, enhancing its relatability and emotional connection with consumers [46]. - POPMART's global expansion strategy has led to a significant increase in overseas revenue, with a reported 379.6% growth in 2024 [54][57]. Group 4: Future Prospects - Morgan Stanley predicts that Labubu's sales could grow from 3 billion yuan in 2024 to 14 billion yuan by 2027, indicating its potential as a major global IP [19]. - The company aims to achieve 50% of its sales from overseas markets, with a target of surpassing 10 billion yuan in international sales by 2025 [57][58]. - The ongoing challenges in supply chain management and the presence of counterfeit products pose risks that the brand must navigate to maintain its market position [58].
泡泡玛特(9992.HK):LABUBU成全球超级IP 现象级热潮有望推动2Q25收入加速增长
Ge Long Hui· 2025-05-28 18:25
Core Insights - Labubu 3.0 has sparked a global phenomenon, significantly enhancing its brand recognition and influence in the collectible toy market [1] - The popularity of Labubu 3.0 in overseas markets is driving accelerated growth in the domestic market, with expected revenue growth of 95%-100% in 2Q25 compared to 1Q25 [2] - The U.S. and European markets have become the primary engines for overseas expansion in 2025, with U.S. revenue growth projected at 895%-900% and European revenue growth at 600%-605% [3] - The company has raised its profit forecasts for 2025 and 2026, with a target price adjustment to 293.9 HKD based on a DCF valuation method [4] Group 1 - Labubu has become the most popular collectible toy IP globally, with significant social media presence and demand [1] - The limited sales strategy has led to long queues outside physical stores, further increasing Labubu's popularity [1] - Domestic same-store sales growth in April exceeded that of 1Q25, indicating strong market demand [2] Group 2 - The company has shifted most U.S. orders to Vietnam to mitigate potential supply chain risks from tariffs [3] - The strong brand and product power of Labubu allow the company to pass on potential tariff costs to consumers [3] - The revenue forecasts for 2025 and 2026 have been increased by 17% and 15%, respectively, reflecting a positive outlook [4]