Citigroup has indicated that the newly launched "THE MONSTERS Hair Salon" series of Labubu plush toys from Pop Mart International Group Limited has received mixed feedback on social media and may not serve as a short-term catalyst for the company.
Analysts, including Lydia Ling, noted in a report that while the series has garnered significant attention since its launch, online reviews of its design have been polarizing.
A key feature of this new product line is its focus on hairstyle design, utilizing a new velvet material and manufacturing technique that allows users greater scope for DIY customization.
Currently, the "MOKOKO Velvet Afternoon" variant is the most sought-after, already commanding a premium in the secondary market. Following it are the "Coastal Style" and "Born Rebellious" styles, which rank highly in trend data on the Qianda platform. Demand for the remaining three standard variants is comparatively lower, with their secondary market prices falling below the original retail price.
As of the evening of June 21, pre-order registrations exceeded 17,000 on its Douyin flagship store, over 10,000 on its Tmall flagship store, and surpassed 3,000 on the Xiaohongshu platform.
The series is scheduled for online release on June 25, followed by in-store sales commencing on June 26.
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