Core Viewpoint - The article discusses the rising popularity of the Labubu toy from Pop Mart in overseas markets, highlighting a significant increase in sales and the emergence of counterfeit products that are gaining traction among consumers [2][14]. Group 1: Market Performance - Pop Mart's overseas revenue surged by 475% to 480% in the first quarter of this year, while overall revenue increased by 165% to 170% [14]. - The Asia-Pacific region (excluding China) saw a growth of 345% to 350%, the Americas increased by 895% to 900%, and Europe experienced a growth of 600% to 605% [14]. - The Labubu toy is compared to a luxury item, with blind boxes originally priced at 594 yuan being resold for 1,000 to 2,000 yuan in the secondary market [11]. Group 2: Consumer Behavior - Overseas consumers are increasingly opting for counterfeit versions of Labubu, referred to as "Lafufu," which are often cheaper and considered more interesting [8][21]. - In Thailand, a Labubu toy priced at 99 yuan domestically can cost up to three times that amount, making counterfeit options more appealing [16]. - The trend of purchasing bizarre and abstract counterfeit toys reflects a curiosity-driven consumer behavior in overseas markets [21]. Group 3: Brand Influence - Labubu has gained significant popularity in major cities worldwide, with reports of long queues at Pop Mart stores in locations like Los Angeles, London, Milan, and Tokyo [12]. - The influence of Labubu is likened to that of a celebrity, with notable figures like David Beckham showcasing the toy [12]. - The brand's CEO has emphasized the strong performance in the North American market, projecting significant revenue growth by 2025 [15].