Analysis of LABUBU Brand's IP Shaping and Marketing Strategy

With the continuous development of economies in today’s world, an increasing number of people are willing to pursue psychological satisfaction, such as entertainment, instead of merely considering the adequacy of food and clothing. This trend triggers the prosperity of entertainment industry such as designer toy industry. Recently, LABUBU under Pop Mart, which is a popular Chinese designer toy company, has become a global sensation. Based on SWOT model and marketing theory of 4P, this paper concludes the main reasons why LABUBU has gone viral. Challenges and suggestions are also proposed. The key reason is the uniqueness of its design, blind box selling strategy and celebrity effect. The main challenges it may face are severe secondary market premiums and limited sales. Hence, a couple of suggestions are proposed, such as preparing enough stocks, monitoring prices on the secondary market, improving the design and co-brands with other prestigious brands or collaborating with international influencers.