Labubu Frenzy: Pop Mart Tackles Resellers, Fakes
The Labubu frenzy has sparked a global phenomenon, with fans eager to get their hands on the creatures, but the rise of resellers and fakes has threatened to undermine the collector community. Pop Mart's efforts to improve the shopping experience and prevent fake sales aim to restore the fun and excitement of collecting Labubu, and with the company's success and commitment to its fans, the future of Labubu looks bright.
Labubu, the adorable creatures, have taken the world by storm, but their popularity has led to a rise in resellers, causing chaos and frustration for collectors, with Pop Mart working to improve the shopping experience and prevent fake Labubu sales.
The company behind Labubu, Pop Mart, has faced challenges in meeting the demand for the creatures, with resellers taking advantage of collectors and selling the toys at exorbitant prices. In the UK, Labubu figures were temporarily pulled from shelves due to fights between flippers and customers, while in the US, online shopping has become a nightmare with bots and button-mashing. To address this issue, Pop Mart is introducing a new release mechanism and online system to prevent resellers from taking advantage of collectors.
Chinese customs agents have seized hundreds of Pop Mart Labubu plush toys in recent weeks, worth hundreds of thousands of dollars, highlighting the scale of the problem. The toys, created by Hong Kong-born illustrator Kasing Lung, have become extremely popular worldwide, with fans struggling to get their hands on them through official channels. Instead, many are turning to smugglers, who are selling them for exorbitant prices on the second-hand market, with some toys selling for up to $278, more than triple the original price of $81.
Pop Mart's global gross profit surged by over 125% last year, with revenue in mainland China reaching over $1.09 billion, demonstrating the success of the company's strategy. However, buying from resellers carries risks, with some fans reporting purchasing fake toys, known as "Lafufus", which are being sold for double the price of real ones. Pop Mart is aware of the fake Labubu industry and is working to restore the fun and delightful atmosphere of the collector community.
As Pop Mart continues to work on improving the shopping experience and preventing fake sales, fans of Labubu can look forward to a more enjoyable and authentic way of collecting and trading the creatures. With the company's commitment to tackling resellers and fakes, the Labubu community can focus on what matters most - the joy of collecting and sharing these adorable creatures.