Core Viewpoint - The article discusses the rising popularity of the toy brand Pop Mart, particularly its Labubu character, among younger consumers, contrasting it with older generations' preferences for traditional luxury items like liquor and real estate. The brand's success is attributed to its effective use of social media and celebrity endorsements, leading to significant revenue growth and market presence in both domestic and international markets [1][2][10]. Group 1: Revenue Growth and Market Performance - In 2024, Pop Mart's revenue in mainland China is projected to reach 7.97 billion yuan, a year-on-year increase of 52.3%, while its overseas and Hong Kong, Macau, and Taiwan business revenue is expected to hit 5.07 billion yuan, showing a staggering growth of 375.2% [1]. - By June 4, 2025, Pop Mart's market capitalization reached 330.364 billion HKD, making it the top company in Asia's character economy [2]. - The Labubu series alone saw sales soar from 368 million yuan in 2023 to 3 billion yuan in 2024, marking a remarkable year-on-year growth of 726.6% [4]. Group 2: Social Media and Celebrity Influence - Labubu has become a "social currency" in the Western trend circles, with celebrities like Lisa and Rihanna showcasing the character on social media, leading to viral marketing success [2][7]. - The brand's strategy includes leveraging platforms like TikTok, where a live stream event sold 20,000 Labubu units, achieving a gross merchandise value of 1.5 million USD [6]. - The TikTok-related topics for Labubu have garnered over 5 billion views, indicating a strong engagement and interest from the audience [7]. Group 3: Brand Strategy and Market Positioning - Pop Mart's approach to IP development focuses on creating a "super IP" through collaborations with global artists, which has allowed it to build a diverse portfolio of characters [10][17]. - The company has successfully positioned Labubu as a luxury yet accessible product, pricing it 2-3 times higher in developed markets while maintaining a moderate premium in Southeast Asia [11]. - The brand's marketing strategy emphasizes emotional connection and consumer engagement, redefining the experience of purchasing collectible toys [20]. Group 4: Cultural and Market Insights - The success of Labubu reflects a shift in consumer behavior, where younger generations prefer unique, non-standardized products over traditional luxury items, driven by social media trends [11][13]. - Pop Mart's ability to resonate with global youth culture is seen as a significant factor in its international expansion, with the brand avoiding overtly emphasizing its Chinese origins [18]. - The article draws parallels between Pop Mart's rise and historical examples of successful cultural exports, suggesting that the brand's growth is indicative of China's evolving role in the global market [14][15].