Pop Mart’s Labubu: From Blackpink fave to fading frenzy for Chinese toy firm
Pop Mart's Labubu toy craze appears to be waning, with resale prices dropping closer to retail levels, potentially impacting the company's revenue this year. The Halloween-themed Labubu is currently listed between 170 yuan (US$23.20) and 300 yuan on second-hand marketplaces, while its official launch price was 159 yuan. Analysts suggest that this decline in excitement is a natural progression for any popular character.
Despite the cooling trend, Labubu's popularity may still drive growth in the Chinese market, especially after its viral success internationally in late 2024. However, challenges may arise in the fourth quarter due to the high sales base established earlier. Additionally, the recent drop in Labubu prices is linked to an increase in supply from Pop Mart, aimed at making the toys more accessible. Analysts recommend focusing on larger figures for better collectability, rather than the fluctuating prices of blind boxes.
via SCMP Full Text Feed
Pop Mart's Labubu toy craze appears to be waning, with resale prices dropping closer to retail levels, potentially impacting the company's revenue this year. The Halloween-themed Labubu is currently listed between 170 yuan (US$23.20) and 300 yuan on second-hand marketplaces, while its official launch price was 159 yuan. Analysts suggest that this decline in excitement is a natural progression for any popular character.
Despite the cooling trend, Labubu's popularity may still drive growth in the Chinese market, especially after its viral success internationally in late 2024. However, challenges may arise in the fourth quarter due to the high sales base established earlier. Additionally, the recent drop in Labubu prices is linked to an increase in supply from Pop Mart, aimed at making the toys more accessible. Analysts recommend focusing on larger figures for better collectability, rather than the fluctuating prices of blind boxes.
via SCMP Full Text Feed
