On August 22, Pop Mart announced the new mini Labubu series! This release is divided into two sets, A and B, each containing 14 regular figures and 1 hidden figure—the probability of getting a regular figure is 1:14, while the hidden figure has a probability of 1:168. Each blind box sells for 79 yuan, and a full set costs 1,106 yuan. Online sales begin on August 28 at 10 PM, while offline sales start on August 29.
On the day of the announcement, Pop Mart’s market value steadily exceeded 430 billion Hong Kong dollars! The latest financial report revealed that in the first half of 2025, Pop Mart’s gross profit margin soared to 70.3%, not only surpassing LVMH but also nearly catching up with Hermès! Among its products, the THE MONSTERS series, to which Labubu belongs, saw revenue surge by 668%, making it a true “cash cow.” However, Labubu didn’t become popular overnight—it took a full 7 years from its launch to widespread recognition.
In contrast, celebrity-created trendy toy IPs have a smoother path: Zhou Shen’s “Zhou Keke” sold over ten million yuan worth in just 5 minutes, Mayday’s “Bo Bo” broke into the top three best-selling plush toys within half a year, and Jay Chou’s “Classmate Zhou” is even more impressive, with over 200 brand collaborations and IP licensing revenue exceeding one billion yuan. However, celebrity IPs also come with risks—they are deeply tied to the celebrity’s image, and if the celebrity faces a scandal, the IP’s value can instantly plummet. Even so, the profit potential of celebrity IPs remains highly attractive, and many are now looking to replicate the success of “Labubu” on a larger scale.
Will the next top trend be a celebrity IP? How exactly do they generate revenue? What is the business strategy behind the creation of “Classmate Zhou” by Superstar Legend? This issue explores these questions in detail!
