Resale Prices Soar 10 to 30 Times, Raising Concerns
Illegal Counterfeit Doll "Lapupu" Emerges Amid Surging Popularity
The resale price of "Labubu," a character doll from Chinese toy company Pop Mart that has gained global popularity, is on a downward trend.
On June 20, Guangmingwang reported that "the resale price of Labubu in the secondhand market has dropped by more than 50%." According to data from a toy resale website, the price of Labubu 3.0 (including six blind boxes) has plummeted from 1,500?2,800 yuan (approximately 287,000?535,000 KRW) to 650?800 yuan (about 124,000?153,000 KRW). Some limited-edition Labubu figures have also fallen from 4,607 yuan (around 885,000 KRW) to 2,851 yuan (545,000 KRW).
A Labubu figure that is not sold at a Pop Mart store in Beijing was displayed. Photo by AFP Yonhap News.
Guangmingwang reported that "one seller listed a pre-ordered product for 1,200 yuan (about 230,000 KRW), but resellers responded that they would only buy it for around 700 yuan (about 130,000 KRW)."
Recently, many photos of people who received pre-ordered Labubu dolls have been posted on Chinese social networking services (SNS). While the number of restocks has increased, there are still many consumers rushing to buy. However, some consumers are expressing discomfort due to excessively high resale prices. In response, Pop Mart has sought to reorganize by increasing inventory and launching online sales.
A Pop Mart representative told Guangmingwang in an interview, "Recently, the Labubu series has been met with enthusiastic responses as it gains global popularity," but also stated, "As the cycle of sellouts and reselling repeats, cases of consumer inconvenience are increasing." The representative added, "To avoid causing inconvenience to consumers' shopping experience, we have reorganized the sales process and officially opened online pre-sales."
Previously, some consumers bought Labubu in bulk, stockpiled inventory, and resold them at premiums of 10 to 30 times the original price. However, as Pop Mart recently increased inventory, the resale price has naturally declined. Some resellers have lost tens of thousands of yuan in a single day due to the drop in secondhand prices.
The popularity of "Labubu" has even led to the emergence of illegal counterfeit dolls called "Lapupu." Consumers who failed to purchase Labubu have opted to buy Lapupu at lower prices. Due to features such as asymmetrical faces and twisted hands, some say, "The genuine Labubu is definitely better," while others find the counterfeits "uglier and funnier." Citing Chinese experts, Guangmingwang pointed out that "the popularity of illegal counterfeits is risky," and explained that "counterfeiting increases brand awareness and draws attention to genuine products."
Labubu has gained popularity after being posted on social media by Lisa of Blackpink and singer Rihanna. Recently, a set of four Labubu figures with a retail price of 9,000 yuan (about 1.7 million KRW) was auctioned for 22,403 yuan (about 4.15 million KRW) on a Chinese auction site. Some limited editions have been traded in the resale market at premiums of up to 20 to 30 times the original price. Various content such as Labubu box unboxing, Labubu outfit changes, and "ugly Labubu" competitions featuring counterfeits are gaining attention on social media.
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