"Labubu, the bug-eyed elves from Beijing, are rewriting global brand engagement rules, driving community-driven consumer interaction and creating a viral phenomenon across markets."
"In early 2024, Pop Mart achieved RMB 6.65 billion in revenue and anticipated a remarkable profit increase for the following year, highlighting its market expansion."
Labubu figurines from Beijing exemplify a shift in global consumer engagement, focusing on building community rather than sales alone. Pop Mart, their producer, reported RMB 6.65 billion in revenue in early 2024, with substantial profits and a $40 billion market value. Labubu's rise has been driven largely by organic fan culture, with a significant social media boost following celebrity endorsements. This represents a broader trend in China toward creating emotionally resonant cultural products that leverage community-driven fandom, marking a significant evolution in brand strategies.
Read at Fast Company
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