You all must know the Labubu toy, right? It has been very popular on social media lately. This toy has long ears and sharp teeth, and it is known as a devilish toy. Its price starts at $16.99 for a small size, and some people are willing to spend up to thousands on this toy. The small size is sold as a Blind Box, so you can’t know the color inside!
I have also seen it made into jewelry, whether it is diamonds or gold.
There are also collections of clothes and other items. Some people love and don’t want to spend too much or can’t afford it, so they are happy to buy from Taobao.
Influencers and celebrities from many countries, including Cambodia, have bought and posted about Labubu on social media, making it truly trending.
Today, I will share some information about Labubu, including its origin, who created it, and why this toy company is number one. I will also discuss its expansion plans into Asia and worldwide.
But before that, let me introduce myself. My name is Nova, and I am a storyteller. This is my new channel. If you like hearing about new updates, you can click subscribe to get more videos in the future.
POPMART Startup Story
Pop Mart was founded in 2010 by Wang Ning, who started a store selling modern toys, home goods, digital products, and popular snacks. His dream was to create a Chinese Disney, but he opened many stores during a time when China was developing e-commerce. This led to high investment costs.
In 2016, Wang Ning decided to collaborate with designer Molly to start producing toys on a larger scale. The Mystery Box selling strategy of Pop Mart made Molly’s designs very popular and put the company at the top of the market.
What is a Blind Box or Surprise Toy?
Simply put, it is a toy packed secretly, so you don’t know what’s inside. There are 12 different Blind Boxes, and within 144 Blind Boxes, there will be one rare figure. For collectors, this is exciting.
Resellers can earn double the income, similar to trading collectible sneakers. Regular toys are for fun, but art toys focus on storytelling. Even if you’re not into art toys, you might have seen Bearbrick, created by Pioneer. Pop Mart has collaborated with many artists to create around 100 art toy characters like Moly, Pucky, Monster, Dimoo, and Skullpanda.
Who is LABUBU’s Creator
Labubu is part of the Monster Series created by famous designer Ksing Lung from Hong Kong in 2015. The special feature is that it is in his Nordic-style illustrated storybook with characters like Zimomo, Tycoco, Spooky, and Pato. (labubu characters names)
The meaning of Labubu reflects a character that looks scary but has a good heart and helps others. This is why many collectors buy this toy.
In 2023, the Monster toys, including Labubu, generated up to 5.8% of Pop Mart’s revenue. Pop Mart also has a Mega Series that is 400% to 1000% larger than usual. They continue to release new series and collaborations with Disney, Harry Potter, Teletubbies, Minions, Chibi Maruko Chan, Coca-Cola, and even Jackson Wang to attract young people.
POPMART Thailand, Malaysia, and Cambodia
In 2023, Pop Mart opened new stores in Thailand and Malaysia, making $275,200 in sales on the opening day. They have also expanded to Cambodia. Despite its scary appearance, Labubu is popular because it has a good nature and helps others. Even the famous Lalisa has posted pictures of Labubu, increasing its popularity.
This strategy of releasing Blind Box series makes everyone want to buy more. When you open the box and don’t get the color or character you wanted, you might feel disappointed and keep buying. It’s similar to gambling: you win and want more, but when you lose, you keep hoping to win back. But in the end, the chance of loss is high.
For Labubu, if you want a specific series, it’s not easy to spend thousands of dollars. Do you think Labubu will remain popular? Will trends or popularity change quickly? In my opinion, for Cambodia, it’s currently popular, but new things are always coming.
For my suggestion, whether you buy something small or big, expensive or cheap, it should always make you happy, like the joy of catching a toy from a vending machine. Sometimes, spending money on it, even if it’s a little, can make you feel good. It also depends on your mindset. If you believe that a toy represents love, then you will happily buy it, even if it’s expensive.
But if you just follow trends or buy what others have without understanding the popularity, you should save money to buy better things because it’s not easy to earn.
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