Pop Mart's latest release, the Mini Labubus from "The Monsters Pin For Love Series," has garnered significant attention in Singapore, with fans eager to purchase the 4-inch dolls. The dolls, priced at approximately SGD 18.90 (around USD 14.70), quickly sold out online shortly after their launch at 10 a.m. local time on a Friday, with the company’s website indicating that stock was depleted within three minutes. The dolls were also unavailable on the e-commerce platform Lazada, suggesting a high demand for the product.
In addition to online sales, many customers flocked to physical Pop Mart stores in hopes of securing the dolls. Despite the company’s strategy to limit sales to online purchases to prevent long queues, store staff reported a surge of visitors curious about the Mini Labubus. For instance, at a store in Orchard, staff noted an influx of customers who were unaware that the dolls were only available for online order.
The popularity of the Mini Labubu is reflective of a broader trend seen in the toy market, particularly with collectible items. One customer, Sarah, expressed her interest in the beige Mini Labubu corresponding to her initials but opted not to purchase online due to the competitive nature of the drop. Others, like Justus, a new staff member at a store in Plaza Singapura, noted large crowds, with approximately 50 people queuing before opening.
Pop Mart's financial performance underscores the success of the Labubu brand, contributing significantly to the company’s sales. In the first half of the year, Pop Mart reported a revenue increase of 204% compared to the previous year, highlighting the growing appeal of collectible toys in the market.