随着" Labubu "走红，有一批用户已经发现了新商机——在闲鱼出租" Labubu "系列公仔。 据新闻晨报报道，记者发现，在闲鱼平台上以" Labubu 出租""拉布布出租"等为关键词，有多 位卖家提供实体公仔的出租服务， 主要用于拍照、社交展示、婚宴布置等场景 。其中， " Labubu 一代time to chill "日租价格30元， ZIMOMO大天使大首领日租价格在50至80元不 等。 （闲鱼上有卖家在出租LABUBU实体公仔） 在潮玩界人士看来，Labubu的爆火或者熄火，并没有规律可以遵循。 "IP突然爆火是没办法被预测的，你不知道为什么它突然就火了。假如说我知道，我可能会早 几年就囤这个IP的东西，但事实并没有，因为这样做很容易砸手上，假如火的不是Labubu而 是别的呢？我的同行也多数没有这个眼光，一般都是什么火炒什么。"一位潮玩直播间的主播 告诉21世纪经济报道记者。 很多例子可以印证IP的生命力有限。潮玩产品总是很难摆脱"一阵风"的困境。上述主播举例 称，Bearbrick也曾是红极一时的IP，在火爆的时候需要溢价很多才可以买到，但现在1万买的 可能1000都卖出不去，"我早不玩了 ...

Core Viewpoint - The article highlights the global success of Pop Mart, a Chinese toy company, which has created a phenomenon in the collectible toy market, comparable to Disney, through its innovative blind box and plush toy offerings. This success has led to a surge in the number of related businesses in the industry, indicating a growing trend in the collectible toy market [1][2]. Group 1: Market Performance - Pop Mart's stock price has surged by 900% over the past year, with a market capitalization exceeding HKD 314.2 billion, making it a standout performer in the current consumer market [2]. - The collectible toy market in China has seen a significant increase in registered companies, with 26,800 existing as of May, and a 48.2% year-on-year growth in new registrations in the first four months of the year [1]. Group 2: Business Strategy and Growth - The company has successfully tapped into emotional value, creating characters like Labubu that resonate with consumers, leading to substantial sales growth. For instance, the average single-store revenue is projected to grow by 30% in 2024 [6]. - Pop Mart's international expansion strategy has been effective, with significant sales in Southeast Asia, particularly after collaborations with local artists and influencers [6][5]. Group 3: Challenges and Concerns - Despite its success, the company faces challenges such as market saturation, counterfeit products, and a decline in consumer trust due to the speculative nature of blind box purchases [8][10]. - The company has experienced a drop in member repurchase rates from 58% in 2019 to 49.4% in 2022, indicating potential issues with customer retention and satisfaction [10]. - The reliance on a few successful IPs raises concerns about sustainability, as the lifecycle of popular products may be shortening, and the company lacks a cohesive narrative to support its brand [10][11].

以下文章来源于尺度商业 ，作者尺度商业 易建联持股， IPO前估值42.73亿元 尺度商业 . 以价值为尺、投资有度的视角，观察和洞见商业文明、科技创新（原德林社更名） 作者 | 董武英 来源 | 尺度商业 导语 ：从市场份额来看，行业第三的乐自天成与前两名差距较大，并与第四和第五名未能拉 开差距。 今年以来，IP玩具行业获得了资本市场高度关注。港股市场上，泡泡玛特股价持续创出新高，截 至6月3日收盘，年内股价涨幅已经达到163.6%，最新市值高达3142亿港元。今年1月上市的布鲁 可，虽然仍处于亏损状态，但年内股价大涨了173%，最新市值高达410.8亿港元。 在这种火热行情下，又一家IP玩具公司向港交所递交了招股书，它就是52TOYS的母公司乐自天成。 乐自天成是国内第三大IP玩具企业，市占率仅次于泡泡玛特和布鲁可。与布鲁可一样，目前的乐自 天成仍处于亏损状态。它能顺利IPO并复制泡泡玛特和布鲁可的暴涨故事吗？ 2015年，陈威和黄今在一番畅谈后，一拍即合，联合创办了乐自天成，推出了52TOYS这一IP玩具品 牌。也是在2015年前后，已经创办了五六年之久的泡泡玛特发现了起源于日本的盲盒模式，随后拿 下了 ...