a rare figurine.
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Cici Cao
A full-set blind box series that Pop Mart International produced in collaboration with makers of movie hit Nezha 2 is going for up to almost three times its original price after selling out in official online stores.
A full eight-toy set costs 552 yuan (HK$590). There is a ninth figurine – a rare one – and it is selling for nearly 700 yuan – more than nine times its original price.
The first batch sold out quickly after it was launched on Pop Mart’s website on January 30 amid the frenzy over the film sequel Nezha: Demon Child is Back. The film, which hit theaters during the Lunar New Year holiday, has become China’s highest-grossing film.
Currently, all subsequent batches of the blind box series sold in the online official channels are in presale, with shipping dates pushed back to May. They have also sold out in most of Pop Mart’s physical stores nationwide. The frenzy has led to a surge in prices online. A set is priced as high as 1,588 yuan on Alibaba’s Taobao.
A rare-edition “Ao Bing Nezha” figurine is now going for up to 697 yuan. Pop Mart shares yesterday closed at HK$99.20 apiece, down 2.07 percent.
Its shares skyrocketed 373 percent last year amid a fervor among Chinese youngsters in anime merchandise, especially blind boxes.
The concept of blind boxes – or lucky boxes – originated in Japan and has helped collectible companies snap up cash despite the economic downturn in the mainland.
A blind box series usually has 12 standard toys and sometimes includes a rare edition, which drives their value up tenfold.
In December, Pop Mart opened a theme store based on its intellectual property Labubu in Bangkok and raked 100 million yuan in sales on opening day.
cici.cao@singtaonewscorp.com