Labubu CEO Is Eyeing Theme Parks — "Borrowing From Disney's Playbook"

Labubu, the popular collectible figurines and plushes, have plans to get even bigger!

©Labubu

“Pop Mart has been learning from Disney’s ability to operate IP over the long term and aims to capitalize on Labubu’s popularity,” an executive says. Could this mean the possibility of a Labubu theme park in the future? Let’s take a look at the details.

Labubu is a line of collectible figurines and plushes created by Hong Kong artist Kasing Lung. It’s sold by the Chinese company Pop Mart, and has taken the world by storm. It’s a very popular collectible item; you may have heard your kiddos talk about them, or maybe you want them.

©New York Times

Labubu was the first Chinese product to win a global audience for its emotional and creative appeal rather than because it represents value for money, according to myNEWS. Now it looks to turn that success into a long-term juggernaut. “China’s Pop Mart is borrowing from Disney’s playbook to turn toothy monster Labubu’s blockbuster sales into long-term success,” according to Si De, the company’s executive director and co-chief operating officer.

©CNBC

Si De stated, “We have learned from Disney for a long time. In fact, Disney’s great value lies in its ability to operate IP [intellectual property] over the long term, even up to 100 years.” Some analysts question Pop Mart’s reliance on Labubu and what that could lead to, as the fate of the popularity of the toy should eventually cool down (as all things do). However, the firm itself still sees plenty of potential to develop content, entertainment, theme parks and more around the character.

Si said that Pop Mart’s focus is not to find the “next big hit” but to invest in “better products, finding better collaborations, developing content, theme parks, store displays” for Labubu. He also said that their goal is to have “five to 10 IPs with similar long-term potential to Labubu.”

Pop Mart has seen it done by Disney — taking a character in Mickey Mouse and turning him into the company it is today. It’s not easy, but who knows if the dreams of making Labubu even bigger, and possibly into a theme park, could come true. For more news and updates on theme parks, make sure to follow us at AllEars.

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