STORY: :: Pop Mart, the company behind the Labubu toy craze, has opened a jewelry store
:: June 13, 2025
:: Shanghai, China
:: Zhang Zhanming, Customer
"They are targeting young, trendy consumers who are likely to be primarily composed of fashion-conscious women. Within this price range, these women generally do not need to consider the practicality of their purchases. Therefore, I believe that the pricing and target audience for this brand are particularly well-suited, and I am confident that Pop Mart could potentially become China's version of Disney."
The jewelry concept store, called Popop, sells accessories adorned with its top-selling characters, including Labubu, Molly and Skullpanda.
While Chinese consumption remains subdued in the face of a prolonged property downturn and uncertain macroeconomic future, Pop Mart's affordable and adorable toys have remained in high demand both at home and abroad, driving its share price up over 200% to date this year.
Along with some Disney characters and others related to anime, comics and popular video game, Pop Mart's characters are seen as fulfilling what has been called "emotional consumption", which sees young consumers splurge on affordable luxuries that bring a little joy into their lives.
At Popop, prices start at around $50 for charms or a simple silver ring, right up to necklaces adorned with metallic models of the characters for $372. Most pieces are priced at under $140.
At a traditional Pop Mart store, the blind box toys the chain is best known for generally sell for around $10 and up, but consumers have shown a willingness to shell out much more for limited editions.
Earlier this week, a Beijing auction house sold a human-sized Labubu figure for over $150,000, setting a new record and marking the toy's switch from craze to collectible.
