6月10日一款全球唯一一只的薄荷色LABUBU在永乐2025春季拍卖会上亮相，落槌价为108万元，目前已结拍。该款LABUBU尺寸为高131cm，材质为PVC，颜色为薄荷色，在备注栏标注了“全球唯一一只”。除此之外，一款全球限量15版棕色LABUBU，以82万元成交。

On June 10th, a globally unique mint-colored LABUBU appeared at the Yongle 2025 Spring Auction, with a hammer price of 1.08 million yuan, and it has currently been closed. This LABUBU is 131cm in height, made of PVC, and in mint color. The remark column notes "globally unique one". In addition, a globally limited 15-version brown LABUBU was sold for 820,000 yuan.

泡泡玛特旗下潮玩产品LABUBU 3.0正式线下发售，随着其强势出圈，泡泡玛特一跃成为全球现象级焦点。从东南亚到欧美，粉丝排队购买，掀起“一娃难求”的抢购狂潮。蕾哈娜、贝克汉姆等一众国外名人也在社交媒体上晒出LABUBU。

POP MART's trendy toy products LABUBU 3.0 was officially launched offline. With its strong cycle-breaking, POP MART has become a global phenomenon-level focus. From Southeast Asia to Europe and America, fans queue up to buy, setting off a "hard-to-get-a-doll" purchasing craze. A host of foreign celebrities such as Rihanna and Beckham have also shared LABUBU on social media.

LABUBU为何能成为全球顶流？泡泡玛特为何能成功将中国潮玩推广到全世界？这家公司究竟做对了什么？

Why has LABUBU become a global top trend? Why has POP MART successfully promoted Chinese trendy toys to the world? What exactly has this company done right?

耕耘潮玩赛道15年

15 Years of Cultivating the Trendy Toy Track

“2010年，北京有了第一家泡泡玛特门店，那一年我23岁。”王宁说，很多人这几年才开始认识泡泡玛特，但他和团队早已经历过很多挫折、起落，当然也有很多幸运。在探索中成长的泡泡玛特，始终没有改变的是——要做一个让人尊敬的品牌。

"In 2010, the first POP MART store opened in Beijing, and I was 23 years old that year," said Wang Ning. Many people have only started to know about POP MART in recent years, but he and his team have already experienced many setbacks, ups and downs, and of course, a lot of luck. In the process of exploration and growth, what POP MART has never changed is the goal of being a respected brand.

作为2024福布斯中国最佳CEO榜单上最年轻的面孔，因为王宁年龄的原因，不少人也会将泡泡玛特解读为一家年轻的公司。事实上，在潮玩这条赛道里，这家公司已经耕耘了15年之久。

Considering the youngest face on the 2024 Forbes China's Best CEO List and Wang Ning's age, many people also interpret POP MART as a young company. In fact, in the trendy toy track, this company has been cultivating for 15 years.

时间不语，下自成蹊。自2018年布局海外并逐步推动全球化战略，泡泡玛特的业务版图已遍及全球近百个国家和地区。以拉布布为代表的"THE MONSTERS"精灵天团系列去年收入超30亿元，同比增长726.6%，成为泡泡玛特旗下第一大IP。

Time is silent, but it will eventually show the way. POP MART has been expanding overseas since 2018 and gradually promoting its globalization strategy, and its business territory has covered nearly 100 countries and regions around the world. The "THE MONSTERS" series represented by Labubu achieved the revenue of over 3 billion yuan last year, a year-on-year increase of 726.6%, becoming the No. 1 IP under POP MART.

从探路者到领跑者，泡泡玛特的案例证明，无论是个人还是企业，只要在长期维度上坚守目标，创造自己独特的价值，就能走在一条康庄大道上。

From a pathfinder to a leader, the case of POP MART proves that both individuals and enterprises can walk on a broad road as long as they adhere to their goals in the long term and create their own unique value.

IP始终是运营的核心

IP is Always the Core of Operation

互联网时代，被流量裹挟然后被流量反噬的案例频频上演。备受追捧的泡泡玛特，因其售卖“无用”的产品，天然引来了更多审视的目光。

In the Internet era, the cases of being swept up and then backfired by traffic occur frequently. The much-pursued POP MART naturally attracts more scrutiny, because it sells "useless" products.

“尊重经营，意味着无论多么优秀的商业模式或花哨的概念，最终都要回归到处理具体细节和对复杂问题的迭代上，包括对人、对事、对钱等细节的关注和处理。”王宁的坚持，体现在对IP矩阵丰富多元的追求上。

"Respecting operations means that no matter how excellent the business model or fancy the concept is, it must eventually return to dealing with specific details and iterating on complex problems, including attention to and handling of details such as people, things, and money."  said Wang Ning. His persistence is reflected in the pursuit of a rich and diverse IP matrix.

从早期的MOLLY一家独大，到如今的拉布布晋升全球顶流，出于对细节的追求，对“美好、快乐”生意经的打磨，泡泡玛特持续加深粉丝与IP的情感连接，探索IP在价值实现路径上更多的可能性。

From the initial MOLLY alone to the current Labubu's promotion to the global top trend, it is due to the pursuit of details and the polishing of the business philosophy of "beauty and happiness", POP MART continues to deepen the emotional connection between fans and IP and explore more possibilities for IP in the value realization path.

财报显示，2024年泡泡玛特旗下THE MONSTERS、MOLLY等四大IP实现营收破10亿元，DIMOO WORLD、HIRONO等13个IP实现营收破亿元。

Financial reports show that in 2024, the four major IPs of POP MART, including THE MONSTERS and MOLLY, achieved the revenue of over 1 billion yuan, and 13 IPs such as DIMOO WORLD and HIRONO achieved the revenue of over 100 million yuan.

“IP始终是泡泡玛特运营的核心，也是与消费者不断加深连接的根本途径。我们的设计生而全球，天然具备全球化的基因。”正如王宁所言，泡泡玛特的IP已成为一种跨越文化的通用语言，能够得到来自全球消费者的情绪共鸣。

"IP is always the core of POP MART's operation and the fundamental way to continuously deepen the connection with consumers. Our designs are born global and naturally have a global gene," said Wang Ning. As he said, POP MART's IP has become a universal language across cultures, and it can obtain emotional resonance from global consumers.

把准消费的脉搏

Grasping the Pulse of Consumption

泡泡玛特售卖的究竟是什么？在消费者眼中，是“可爱”，是“快乐”，也有可能是“孤独”。但不管表征是什么，在变化中抓住消费者的核心需求才是关键。

What exactly does POP MART sell? In the eyes of consumers, it is "cuteness", "happiness", and possibly "loneliness". But no matter what the representation is, the key is to grasp the core needs of consumers in the changes.

“自古以来，豫商就有着宽广的视野，如今他们也正走向世界，引领着新一轮的消费潮流。”王宁表示。（中文来源/河南日报 记者/贾永标 编译/洪建园）

"Since ancient times, Henan merchants have had a broad vision, and now they are also stepping onto the world stage, leading a new round of consumption trends," said Wang Ning.

Web editors: Shen Jianqi, Li Siyao