China’s Pop Mart exercises pricing power as Labubu popularity surges abroad
Chinese trend-toy maker Pop Mart is hiking prices on its popular Labubu character in the US and shifting more production to Vietnam, as the tariff war between the world’s two largest economies weighs on its profit margins.
The Beijing-based company will introduce Labubu 3.0, a colourful set of seven figurines from the Norse mythology-inspired “The Monsters” series, globally on Thursday.
Items in the new collection will be priced at 99 yuan (US$13.50) in mainland China, on par with the current resale price of previous iterations. Meanwhile, US consumers will see a notable price bump to US$28, up from US$22 for the previous series, as the company seeks to protect its margins, according to a Wednesday report by Jefferies.
Now you can grab a complete set of the first generation Labubu dollsat a discounted price. If you like Labubu, welcome to follow me. Soon, the second and third generation Labubu will be launched.
You will own 6+1 all in a box.
