Labubu have become a global phenomenon. In China alone, for 2024, they reached sales for about 355 million euros and, since then, their figures in the rest of the world They grow at a rhythm of 480%. To Spain too The fever arrived: The stores They ran out of stock and many buyers have had to resort to Wallapop or Vind, with the consequent Risk of falsifications.
Pop Mart, the manufacturer of the stuffed animals, He has shot in the stock market After affirming the CEO Wang NO that its initial forecast of reaching 2.8 billion dollars in sales for this year can grow 50% to 3,580 million, something that, says “would be quite easy.” He would be able to double the income of 2024. And they have explained how they plan to do it: launching the “Mini Labubu“
From the bag to the mobile. With their rabbit ears and a very sinister smile, the labubu have conquered bags and backpacks of their buyers, after being popularized by influencers like Lisa, from the K-Pop Blackpink groupDua Lipa, Madonna, David Beckham or Kim Kardashian. Now Pop Mart wants to conquer something much more common and transversal than a bag: the smartphone. As the company explained, the Mini Labubu can be placed on phones, and will not take them to launch them. It will happen this week.
The ‘Sonny Angel’ taught the way. The mobile accessories market is huge, but none explains so well the step that is going to give Pop Mart with the Mini Labubu like the ”Sonny Angel‘, those little “plastic angels” that after being created in 2004, are now glued to many mobile and even laptops of very young people from Spain after being a viral phenomenon in Tiktok.
The key was the version ‘Hipper‘, designed to fit with the mobile and corners and frames of the screens and popularized by celebrities such as Rosaría or Victoria Beckham. And they took steps such as collaborating with covers of covers such as Casetify that show Pop Mart where sales can continue to grow once they launch the reduced size labubu. In fact, They already collaborate With brands such as Disney, DC, Marvel, Minions, Capcom, Garfield, etc. As explained in The Economist, China is now “Cool”and has everything to conquer Europe.
Without supplying, but with a plan. Wang said that it is very optimistic for the company’s performance “in foreign markets”, and believes that “there is a very wide space for growth”, predicting that the sales of North America and Pacific Asia will match those of China in 2024. The problem is that Labubus’s production does not give to meet demand. This explains average resale prices of $ 121 (and up to 240 euros), compared to the 30 dollars that are officially sold.
It is the same problem that Xiaomi also faces in China with The resale of su7but they are working on expanding the production capacity, and Yuan Junjie, president of the Pop Supply Chain Center Mart, states that produce 10 times more than in the same period last yearwhich translates into 30 million units per month. They plan to continue improving, with two new factories abroad and two in China. At the moment they have benefited from Getting with Labubus is an art.
Image | Dushawn Jovic in Unspash and Pop Mart
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