以下文章来源于电商在线 ，作者王崭 电商在线 . 见锐度、见洞察，聚焦互联网和新商业的创新媒体 来源丨电商在线（ID： dianshangmj ） 作者丨王崭 编辑丨 王亚琪 图源丨carousell 2015年，中国香港艺术家龙家升，在自己的《精灵三部曲》中创造出了Labubu，一只有着蓬乱毛 发，长着九颗尖牙、歪嘴邪笑的"捣蛋鬼"。 在很长一段时间里，Labubu一直背着"丑萌"的标签，虽然同属于泡泡玛特这个盲盒界头号玩家，但 热度却不及泡泡玛特旗下的molly、Skull Panda或者Dimoo。 但这只没有什么"代表作"傍身的坏笑小精灵，在近两年却借助社交平台，爆发出了堪比巨兽的商业能 量。 在各路明星名媛的"带货"下，Labubu一度比爱马仕铂金包还抢手，不仅在全球各地引发了抢购热 潮，部分产品还在二手市场溢价超30倍，成了"理财产品"，直接带动泡泡玛特The Monsters系列玩 偶的销售额，从2023年的3.68亿元推升到2024年的30.41亿元。 泰国歌手Lisa晒出的labubu 社交媒体平台刷屏，官方渠道断货售罄，黄牛排队抢购挤满二手市场，再到仿版盗版"lafufu"横空出 世遭疯抢 ...

Core Insights - The profitability of IP businesses, particularly in the collectible toy market, has exceeded expectations, with the Labubu character from Pop Mart experiencing a significant surge in popularity and sales [1][18] - Labubu's rise has been fueled by social media and celebrity endorsements, leading to a secondary market where prices can exceed 30 times the original value, transforming these toys into investment products [1][3] Group 1: Market Dynamics - Labubu's sales are projected to increase from 368 million yuan in 2023 to 3.041 billion yuan in 2024, indicating a dramatic growth trajectory [1] - The character has become a cultural phenomenon, with high demand leading to sold-out official channels and a thriving secondary market [3][10] - The emergence of counterfeit products highlights the intense competition and the need for strong copyright enforcement by Pop Mart [3] Group 2: Rental and Customization Business - A growing trend involves renting Labubu figures for events and marketing purposes, with rental prices ranging from 20 to 80 yuan per day depending on the size of the toy [4][9] - Customization services for Labubu, including clothing and modifications, have gained traction, with some individuals generating significant income from these services [11][14] - The customization market is still developing, with varying levels of demand and pricing based on the complexity of the modifications [15][20] Group 3: Consumer Behavior and Trends - Consumers are increasingly willing to pay for unique experiences and products, leading to a rise in rental services as a cost-effective way to access popular items [7][10] - The trend of customizing toys reflects a desire for individuality among collectors, with some willing to invest in alterations to make their Labubu unique [14][18] - The overall market for Labubu and similar collectibles is characterized by a blend of investment potential and consumer engagement, driving ongoing interest and activity [18][20]

Core Viewpoint - Popop, a jewelry brand under Pop Mart, has opened its second store in Beijing, featuring the popular LABUBU series among other IPs, amidst high demand for LABUBU products nationwide [1][4]. Group 1: Store Opening and Product Offering - The Beijing store is located in the Guomao Mall and is the second store following the Shanghai opening [1]. - The store offers a variety of jewelry items including pendants, rings, earrings, bracelets, and necklaces, with prices ranging from 319 yuan to 2699 yuan [4]. - The LABUBU series includes a pure silver pendant priced at 459 yuan, with options for customers to customize their jewelry with cords and beads [4]. Group 2: Pricing and Exclusive Items - The most expensive item in the store is the SKULL PANDA pendant priced at 2699 yuan, with an additional cost of 1399 yuan for a matching necklace [10]. - The store features exclusive high-end items, including an 18k gold jewelry series with a bracelet priced at 10,800 yuan and a necklace at 19,800 yuan [16]. Group 3: Customer Experience and Sales Performance - Customer traffic in the store is moderate, with peak weekend visits reaching over 500 people, while weekdays see fewer than 10 visitors at a time [20]. - LABUBU remains the best-selling product, with some items already sold out, while the Shanghai store has completely sold out of LABUBU pendants [20][23]. - The store's unique selling proposition includes interactive and customizable jewelry, appealing to fans of the brand [20]. Group 4: Brand Background and Future Plans - Popop was officially announced as Pop Mart's first jewelry brand in January 2023, following previous attempts in the jewelry sector [27]. - There are rumors about the introduction of gold jewelry in the future, but staff at the Beijing store have not received any confirmation regarding this [30].

泡泡玛特 以下是泡泡玛特 FY24 H2 的财报电话会纪要，财报解读请移步《 泡泡玛特：出海封神！泡泡玛特一路 "狂飙" 》 一、财报核心信息回顾 | | | | | | 泡泡玛特财务数据概览 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 单位:亿/CNY | 1H21 | 2H21 | 1H22 | 2H22 | 1H23 | SH23 | 1H24 | 2H24 | 2H24e | 实际 VS 换期 | | 整体收入 | 17.7 | 27.2 | 23.6 | 22.6 | 28.1 | 36.7 | 45.6 | 84.8 | 76.7 Beat | 10.5% | | VOV | 117% | 85% | 33% | -17% | 19% | 62% | 62% | 131% | | | | 大陆 | 17.1 | 25.9 | 22.0 | 19.6 | 24.4 | 29.8 | 32.1 | 47.6 | 41.8 Beat | 14.0% | | 浅下 | 6.7 | 12. ...