Prices for Labubu collectible figures on the secondary market have quadrupled
Photo: EPA

Prices for the popular Labubu collectible toys from the Chinese company Pop Mart have fallen by more than four times. About writes Reuters.

For example, according to the Chinese art toy resale platform Qiandao, while in June the Labubu "Luck" character figure was sold on the secondary market for more than $70, its price has now dropped to about $15.

The sharp drop in price came after the summer sales peak. A similar drop has been observed for other figures in The Monsters series, some of which now cost even less than in official Pop Mart stores.

Labubu collectible toys have become famous thanks to fans among world stars such as Lisa from BLACKPINK, Rihanna and David Beckham.

Their success fueled a huge demand and speculative boom in resales, especially in Asian countries, including Thailand, where prices used to rise daily.

Investors are concerned that the decline in secondary market values may indicate a decline in demand for the company's most popular toys. Pop Mart shares have fallen about 25% since their August highs, although they are still up 186% since the beginning of the year.

However, Pop Mart explains the drop in prices not by a decrease in interest, but by a sharp increase in supply. According to the company's CEO, Sid Xie, the production of soft toys, including Labubu, has increased tenfold and now reaches 30 million units per month.

Morningstar analysts believe that the drop in prices may indicate not so much a problem with demand as an oversaturation of the market after rapid sales growth.

  • Pop Mart sales increased by 250% over the quarter due to the demand for Labubu dolls. Overseas markets showed a 370% increase in sales, while in China they increased by 190%.