LABUBU 4.0 has officially hit the shelves, marking the latest chapter in Pop Mart's ever-evolving lineup of designer toys. Ahead of the release, restock payments for several high-demand LABUBU and Crybaby models had opened, and interestingly, resale prices on Chinese secondhand trading platforms have dropped sharply, now approaching official retail levels, a rare phenomenon in a market often dominated by scarcity-driven hype.
While I'm not personally a fan of LABUBU, the trend offers an intriguing lens into the dynamics of collectible culture. Hype, as history repeatedly shows, is often fleeting. Consider the Be@rbrick craze of the early 2000s: early releases commanded astronomical resale prices, but as the market matured and production expanded, many of these once-sought-after figures lost their secondary-market luster. Similarly, the Pokémon card boom in the late 1990s illustrates how popularity can surge and fade depending on rarity, nostalgia, and consumer sentiment.
In my view, newer releases often capture more attention than older ones. Hype is ephemeral, and what's trending today may be forgotten tomorrow. This perspective shapes my approach to investing: I'm cautious about buying shares purely based on short-term buzz. Pop Mart, as a company, remains impressive. Founded in 2010, it has transformed niche designer toys into a global cultural phenomenon, successfully merging collectible artistry with strategic retail and licensing operations.
Despite my admiration, I currently find Pop Mart's shares too expensive for my taste. As of the close on September 1, 2025, the stock stood at $308.4, with a 52-week range of $44.815 to $339.8. The stock's history reflects both the excitement of rapid growth and the volatility inherent in a company closely tied to trends and consumer sentiment.
POP MART (09992)
Ultimately, LABUBU 4.0 isn't just another collectible, it's part of a larger narrative of pop culture, scarcity, and the psychology of desire that has driven collectibles for decades. Whether it becomes a long-term favorite or another fleeting craze remains to be seen.
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