Labubu shines as pop mart opens the jewelry store

The “Blind Box” Toymaker Pop Mart, which has seen frantic sales worldwide for bad Labubu products, opened its first jewelry store in Shanghai on Friday.

The jewelry ideas store, called Popop, sells accessories decorated with top pop Mart characters, such as Labubu, Molly and Skullpanda.

While Chinese consumption remains sluggish in the face of a prolonged flexion of ownership and the sluggish economy, Pop Mart’s affordable and adorable games have remained in high demand both domestic and abroad, leading their stock price more than 200 % this year.

The 34 -year -old investor Zhang Ming, who holds the 100 million yuan pop mart reserves ($ 13.92 million), flew from his base to the southwestern Chinese city of Chongqing to open the new store’s new type and decide whether to increase his participation in the company.

“I believe that the audience and target audience for this brand is particularly suitable and I am sure that Pop Mart could potentially become Disney’s Disney version,” Zhang said, predicting that the company’s ceiling could be doubled by the current 45,65 billion valuation.

Along with some Disney characters and others related to anime, comics and popular video games, pop Mart’s characters are considered to fulfill what has been called “emotional consumption”, which sees young consumers spent on affordable luxuries.

Fang Ke, 35, who has a birthday coming this month, has decided to confront himself on a 699 Yuan Labubu bracelet in the opening.

“I have loved the pop mart for a long time. It is good, intensely colored, and it also has a visual effect,” he said. “My daughter also likes.”

At Popop, prices start from about 350 yuan for charm or simple silver ring and go as tall as 2699 yuan for necklaces decorated with metallic character models. Most pieces are valued at less than 1,000 yuan.

In a traditional Pop Mart store, the “Blind Box” games that the chain is known for generally sell for 69 yuan or more, but consumers have shown the willingness to pay much more for limited versions.

Earlier this week, a Beijing auction house sold a human size Labubu for 1.08 million yuan, setting a new record and marking the game’s transition from the madness to a collectible.