A Pop Mart exec wants Labubu and other blind box characters to have Mickey Mouse's staying power

"Pop Mart has Disney-sized ambitions for Labubu, and one of its top executives has outlined a road map to ensure that the furry dolls don't become a one-hit wonder. The Chinese toy giant is trying to keep its viral Labubu doll and other intellectual property characters relevant in the long term, much like Disney had managed to do with Mickey Mouse. Si De, Pop Mart's COO and executive director, told Reuters in an interview, released Monday, that Pop Mart had "learned from Disney for a long time.""

""In fact, Disney's great value lies in its ability to operate IP over the long-term, even up to 100 years," Si said to the outlet. Si said that in the near future, Pop Mart wanted to invest in "better products, finding better collaborations, developing content, theme parks, store displays" first for Labubu, followed by its other popular IP characters. The company has launched numerous retail collaborations with brands like Uniqlo, Crocs, Lego, and tea brand Chagee, among others. Its first theme park, Popland in Beijing, opened in 2023."

"Labubu has had its own pop culture moment, with big-name celebrities like Rihanna, Kim Kardashian, Paris Hilton, Blackpink's Lisa, and Joshua Hong from K-pop group Seventeen, buying into the trend and showing off the dolls on their socials. Labubu has shaped up to be a big money-maker for Pop Mart."The Monsters" IP, which includes Labubu, contributed 4.81 billion Chinese yuan, or about $674 million, to the company's total sales in the first half of this year, per its earnings report released on August 19."

Pop Mart seeks to build Labubu into a durable intellectual property with strategies modeled on Disney’s long-term IP management. The company plans investments in improved products, strategic collaborations, content development, theme parks, and enhanced store displays for Labubu and other characters. Retail partnerships include Uniqlo, Crocs, Lego, and tea brand Chagee, and the company opened its first theme park, Popland, in Beijing in 2023. Major celebrities have promoted the dolls on social media. The Monsters IP, including Labubu, contributed 4.81 billion yuan (~$674 million) to sales in the first half of the year, driving significant revenue growth.

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