1 Mln Labubu! Pop Mart Bubble to "Pop" or Unlimited Potential?
Today, the globally unique 131CM Mint Green Labubu was hammered at 1.08 million rmb!
China has moved far beyond manufacturing cheap toys. Today, it’s creating cultural phenomena like $POP MART(09992)$, whose founder became a billionaire by turning collectible art toys into a global sensation.
While other new consumer stocks in Hong Kong retreated after recent highs, Pop Mart stands firm. Its flagship character Labubu has exploded from Southeast Asia into Chinese households, while newer IPs like Crybaby, Skullpanda, and Hirono gain rapid traction worldwide.
This isn’t a meme stock, gold, or tech giant. It’s a toy retailer’s meteoric rise. Since early 2024, Pop Mart delivered near 10x returns for investors.
Its cultural reach? Massive global Icons including David Beckham, Dua Lipa, Rihanna, BLACKPINK’s Lisa, Kim Kardashian’s daughter North West all love labubu.
The Billion-Dollar Question: Bubble or Growth Story?
Skeptics warn: "When everyone chases a trend, the upside evaporates." Yet bulls counter:
Pop Mart leads the art toy market with hypergrowth (106.9% YoY revenue increases)
Expanding globally with youth cult-like appeal
Forward P/E under 50x—reasonable for a company at this growth stage
Critical debate: Is a 50x P/E ratio a bubble signal? Historically, hypergrowth stocks traded at higher premiums during expansion phases.
Can Pop Mart sustain its magic?
Do you think Pop Mart's bubble is about to burst?
Or do you still believe in its IP incubation capabilities?
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its popularity exploded when celebrities carried them. perhaps it has become collectable items.
While other new consumer stocks in Hong Kong retreated after recent highs, Pop Mart stands firm. Its flagship character Labubu has exploded from Southeast Asia into Chinese households, while newer IPs like Crybaby, Skullpanda, and Hirono gain rapid traction worldwide.
Can Pop Mart sustain its magic?
Do you think Pop Mart's bubble is about to burst?
Or do you still believe in its IP incubation capabilities?
REWARDS
All valid comments will receive 5 Tiger
The first 10 and last 10 valid comments will receive an additional 10 Tiger Coins
但换个角度看，这家公司确实有点东西。
泡泡玛特的“魔法”其实不只是Labubu一角爆红，而是它打造IP的能力。从Molly到Skullpanda，再到最近的Crybaby、Hirono，每个角色背后都有一套完整的设定和情感投射，让年轻人愿意为“故事”买单，这在传统玩具行业并不常见。这不是盲目的追风，而是审美共鸣加上消费仪式感的结合。
当然，泡泡玛特也有隐忧，比如IP生命周期管理、市场饱和问题，还有港股估值波动带来的短期压力。但就长期来说，它不像是炒作出来的空壳公司。它在做的，是把“潮流文化”变成“可持续商业模式”。
所以说，现在不一定是追高的好时机，但我仍然看好它的核心竞争力。泡泡或许会破，但它真正的“魔法”——IP孵化和情绪价值的打造，才刚刚开始释放。