The surge in popularity of Labubu dolls has prompted Pop Mart UK to suspend in-store and roboshop sales temporarily, amidst what many are calling "Labubu fever." This charming toy, characterised by its mischievous appearance, has captivated shoppers and collectors alike, leading to considerable queues outside stores as fans clamour for these viral creations. The decision to halt sales comes as the company grapples with safety concerns after long line-ups formed on restock days.
In an Instagram announcement, Pop Mart UK stated, “Due to the increasing demand for our beloved Labubus, we’ve seen a significant rise in customer turnout… To ensure the safety and comfort of everyone, we will temporarily pause all in-store and roboshop sales of THE MONSTERS plush toys until further notice.” While this decision has left many fans disheartened, the company confirmed that online sales would continue uninterrupted, allowing those eager for these collectibles a chance to purchase them digitally.
The global fascination with Labubu dolls can be attributed to their unique design and marketing strategy. Introduced by the Chinese brand Pop Mart, which opened its first European flagship store in London in 2022, Labubus are a part of a broader collection of "designer" toys that are sold in blind boxes. This format has sparked curiosity and excitement among collectors, and it doesn’t hurt that celebrities like Rihanna and Dua Lipa have contributed to the trend’s visibility on social media. Indeed, the hashtag 'Labubu' boasts over 1.4 million posts on TikTok, highlighting the toy's immense reach online.
Financially, Labubu has proven to be a powerhouse for Pop Mart, which reported a staggering revenue of 3 billion yuan (£311 million) attributed to The Monsters IP in 2024. This growth marks a 726.6% increase year-on-year, solidifying Labubu as the company’s largest intellectual property, accounting for over 23% of its total revenue. This overwhelming success has not only triggered a surge in production but also prompted the company to reconsider its pricing strategy. Following rising demand, prices for the Labubu 3.0 series in the U.S. will increase from $22 to $28.
Despite its achievements, the rapid rise in popularity has its drawbacks. Many fans have expressed frustration and sadness over the pause in sales, especially those who had taken time off work to queue for the dolls. Comments from fans illustrate their disappointment, with one lamenting, “I even booked a day off WORK only to read this. I’m so sad right now.” Concerns have also been raised about the high volume of resellers capitalising on demand, leading some fans to suggest that this practice has contributed to the current sales halt.
The company is aware of the adverse effects of such behaviours and is reportedly considering measures to combat reselling, while also ensuring a safer shopping experience for customers. Some critics have pointed to the early morning queues, with dedicated fans arriving from dawn to secure their dolls, as a potential safety hazard that needed addressing.
Meanwhile, Pop Mart's stock investors remain watchful, as a recent downturn of over 6% in Hong Kong stock prices has raised questions about the sustainability of Labubu's popularity. While the dolls currently remain sold out, the fluctuation in speculative prices could dissuade some dealers from stockpiling in the future.
As the craze continues, Pop Mart is not only focusing on improving the shopping experience for fans but is also preparing to take legal action against unauthorized use of Labubu characters by other brands. This step underscores their commitment to maintaining the brand's integrity and ensuring that fans receive authentic products.
As the tale of Labubu unfolds, it portrays a complex interplay of consumer behaviour, market dynamics, and the challenges of a growing toy phenomenon.
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Source: Noah Wire Services