Core Insights - LABUBU has become a global sensation, attracting attention from celebrities and consumers alike, symbolizing a significant breakthrough for Chinese cultural brands in the global market [1][5][7] - The rise of LABUBU can be categorized into three phases: initial popularity in Southeast Asia, expansion into the European and American markets, and a strong resurgence in the domestic market [5][10][11] Phase Summaries - **Initial Popularity**: LABUBU gained fame in Southeast Asia, particularly in Thailand, driven by influencer marketing from celebrities like Lisa, which led to a peak in Google search interest [5][7] - **Expansion into Western Markets**: In 2024, LABUBU's parent company, Pop Mart, focused on penetrating North America, achieving significant revenue growth of 726.6% year-on-year, with LABUBU becoming the top IP for the company [7][10] - **Resurgence in Domestic Market**: Following international success, LABUBU sparked a buying frenzy in China, with social media buzz driving consumer interest and sales [10][11] Key Events - April 24: LABUBU launched its third-generation plush product, leading to a surge in social media interest and app downloads [11][18] - May 2025: The product's popularity resulted in a secondary market where prices doubled, indicating high demand [11][18] - June 8: Pop Mart's founder became the richest person in Henan, highlighting the financial impact of LABUBU's success [17][18] Market Dynamics - LABUBU's success is attributed to effective IP management and marketing strategies, including leveraging social media and celebrity endorsements to enhance brand visibility [30][31] - The company is exploring new content projects and expanding its IP universe to maintain consumer engagement and brand longevity [27][33] Industry Context - The Chinese toy market is projected to grow significantly, with LABUBU representing a key player in this expanding sector [23][30] - The phenomenon of LABUBU illustrates the potential for Chinese cultural products to compete on a global scale, marking a shift in the international perception of Chinese brands [1][5][30]