The thriving business of reselling Labubu toys from Pop Mart has experienced a shift, as Kasidit Teerawiboosin, a Thai reseller, observes a rapid decline in market prices. Once bolstered by celebrities like Lisa from Blackpink and Rihanna, these toys now confront an uncertain demand landscape.
Labubu, part of the sought-after ‘The Monsters’ series, previously fueled Pop Mart’s revenue, yet resale prices have notably dropped, challenging the brand’s cash cow status. Some attribute this to cooling demand; however, Pop Mart points to increased supply as a primary factor.
As the secondary market for these sought-after toys dwindles, Pop Mart’s efforts to expand supply could reshape market dynamics. Meanwhile, resellers are exploring international markets, venturing into territories lacking official stores, keeping an eye on evolving consumer demand and global expansion opportunities.
(With inputs from agencies.)