Core Insights - Labubu has emerged as a phenomenon in China's outbound branding, becoming a top IP in the cross-border e-commerce market [1][3][19] Group 1: Market Performance - Labubu has become the top search term on AliExpress ahead of the overseas 618 shopping festival, indicating its rising popularity [2][3] - Sales of the Labubu 3.0 series have surged globally, with year-on-year growth of approximately 800% in the U.S. and 600% in Europe [3][6] - Bubble Mart reported a significant revenue increase of 165%-170% in Q1 2025, with overseas market revenue growing by 475%-480% [6][7] Group 2: Product Popularity - Labubu-related products have seen a dramatic increase in search volume on Amazon, with "Labubu" entering the top ten search terms [8][9] - The most popular category is Labubu-themed clothing, with top-selling items achieving over a thousand sales in the past month [9][12] - Labubu's merchandise is also performing well on other platforms like Temu, with thousands of units sold [12] Group 3: Marketing and Branding - Celebrity endorsements from figures like BLACKPINK's Lisa and David Beckham have significantly boosted Labubu's visibility [17] - User-generated content on platforms like TikTok has created viral marketing effects, enhancing Labubu's brand presence [17] - Labubu's collaboration with local artists and brands, such as ZARA, has helped position it as a luxury accessory, increasing its market appeal [17][18] Group 4: Consumer Behavior - Labubu appeals to two main consumer groups: those seeking emotional fulfillment and those viewing it as an investment [18][19] - The pricing strategy in markets like the UK ranges from £13.5 to £50, with rare items reselling for hundreds of pounds on platforms like eBay [18] Group 5: Future Implications - The success of Labubu demonstrates the viability of an IP-centric business model for sustainable global operations [19]

Core Viewpoint - Labubu has emerged as a phenomenon in the toy industry, driven by its unique design and marketing strategies, leading to significant demand and supply challenges in both domestic and international markets [4][5][34]. Group 1: Labubu's Popularity and Market Dynamics - Labubu, created by Pop Mart in collaboration with artist Long Jia Sheng, has gained immense popularity, with reports of it being awarded the title of "Magical Thailand Experience Officer" and causing chaos in sales due to high demand [5][6]. - The product's success has led to a surge in counterfeit versions, with the "Guo Guo version" of Labubu being produced to meet the overwhelming demand, often selling at a fraction of the price of the original [10][21]. - The phenomenon has resulted in a saying that "as long as it has Labubu elements, it will sell well," highlighting the brand's strong market presence [6][31]. Group 2: Business Opportunities and Strategies - Businesses have capitalized on the Labubu craze by producing and selling the "Guo Guo version," which has become a lucrative market, with prices significantly lower than the original [10][20]. - The rise of Labubu has also stimulated the "DIY" culture, where consumers modify and personalize their toys, creating a new revenue stream for businesses involved in selling accessories and modification services [26][27]. - The demand for Labubu-related merchandise, such as clothing and accessories, has surged, with sellers reporting high profit margins on these items compared to the original toys [29][30]. Group 3: Challenges and Market Risks - Despite its success, Labubu faces challenges related to maintaining its brand value and managing supply and demand effectively, as excessive scarcity can lead to market saturation and loss of consumer interest [36][38]. - The presence of counterfeit products poses a significant threat to the brand's integrity, complicating enforcement and protection efforts for the original IP [43][45]. - The long-term sustainability of Labubu as a top-tier IP depends on effective marketing strategies and continuous innovation to keep consumer interest alive [46][49].