{"id":245394,"date":"2025-10-16T11:22:50","date_gmt":"2025-10-16T03:22:50","guid":{"rendered":"https:\/\/www.hkubs.hku.hk\/research\/thought-leadership\/the-next-labubu-can-pop-marts-star-making-legend-sustain\/"},"modified":"2025-10-16T11:25:01","modified_gmt":"2025-10-16T03:25:01","slug":"the-next-labubu-can-pop-marts-star-making-legend-sustain","status":"publish","type":"thought-leadership","link":"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/ft-chinese-column\/the-next-labubu-can-pop-marts-star-making-legend-sustain\/","title":{"rendered":"\u4e0b\u4e00\u4e2aLabubu\uff1a\u6ce1\u6ce1\u739b\u7279\u7684\u201c\u9020\u661f\u201d\u795e\u8bdd\u80fd\u5426\u7ee7\u7eed\uff1f"},"content":{"rendered":"

\u4ece<\/span>2024<\/span>\u5e74\u5f00\u59cb\uff0c\u4e00\u4e2a\u957f\u7740\u5c16\u5c16\u5c0f\u8033\u6735\uff0c\u6076\u9b54\u822c\u5927\u773c\u775b\uff0c\u54a7\u7740<\/span>9<\/span>\u9897\u5c16\u5c16\u7360\u7259\u7684\u73a9\u5076<\/span>Labubu<\/span>\u98ce\u9761\u5168\u7403\u3002<\/span>2025<\/span>\u5e74\u4e0a\u534a\u5e74\uff0c<\/span>Labubu<\/span>\u9500\u552e\u989d\u9ad8\u8fbe<\/span>48<\/span>\u4ebf\u4eba\u6c11\u5e01\u3002<\/span>Labubu<\/span>\u60ca\u8273\u5e02\u573a\u7684\u4e0d\u4ec5\u662f\u5b83\u5f3a\u5927\u7684\u5438\u91d1\u80fd\u529b\uff0c\u66f4\u662f\u5b83\u5728\u6d77\u5916\u5e02\u573a\u7684\u52bf\u4e0d\u53ef\u6321\u3002\u4ece\u4e1c\u5357\u4e9a\u5230\u6b27\u6d32\u7f8e\u56fd\uff0c<\/span>Labubu<\/span>\u90fd\u662f\u5e74\u8f7b\u4eba\u8ffd\u6367\u7684\u6f6e\u6d41\u3002<\/span>Labubu<\/span>\u7684\u6210\u529f\u4e5f\u8ba9\u6ce1\u6ce1\u739b\u7279\u80a1\u7968\u4ece<\/span>2020<\/span>\u5e74<\/span>IPO<\/span>\u7684<\/span>38.5<\/span>\u6e2f\u5e01\u4e00\u8def\u98d9\u5347\u5230\u8d85\u8fc7<\/span>200<\/span>\u6e2f\u5e01\uff0c\u77ed\u77ed<\/span>5<\/span>\u5e74\u6da8\u5e45\u8d85\u8fc7<\/span>400%<\/span>\u3002<\/span><\/p>\n

\u5728\u5f53\u524d\u6d88\u8d39\u75b2\u8f6f\u7684\u5e02\u573a\u4e2d\uff0c\u4e3a\u4f55\u4e00\u4e2a\u201c\u65e0\u7528\u201d\u7684\u73a9\u5177<\/span>Labubu<\/span>\u4f9b\u4e0d\u5e94\u6c42\uff1f\u5728<\/span>AI<\/span>\u4e92\u8054\u7f51\u76db\u884c\u7684\u5f53\u4e0b\uff0c\u4e3a\u4f55\u4e00\u5bb6\u201c\u4e0d\u7b26\u5408\u201d\u9ad8\u589e\u957f\u516c\u5f0f\u7684\u6f6e\u73a9\u516c\u53f8\u4e00\u8def\u9ad8\u6b4c\uff1f\u6ce1\u6ce1\u739b\u7279\u7684\u5546\u4e1a\u79d8\u7c4d\u662f\u4ec0\u4e48\uff1f <\/span><\/p>\n

\u4f5c\u4e3a\u4e00\u5bb6\u6f6e\u73a9\u516c\u53f8\uff0c\u6ce1\u6ce1\u739b\u7279\u7684<\/span>IP<\/span>\u5546\u4e1a\u6a21\u5f0f\u53ef\u4ee5\u603b\u7ed3\u4e3a\u4e94\u4e2a\u5173\u952e\u90e8\u5206\uff1a<\/span>IP<\/span>\u7684\u53d1\u6398\uff0c<\/span>IP<\/span>\u7684\u5f00\u53d1\uff0c<\/span>IP<\/span>\u7684\u54c1\u724c\u8425\u9500\uff0c<\/span>IP<\/span>\u7684\u53d8\u73b0\uff0c\u4ee5\u53ca<\/span>IP<\/span>\u7684\u521b\u65b0\u3002<\/span><\/p>\n

IP<\/span>\u7684\u53d1\u6398\u5c31\u5982\u540c\u827a\u4eba\u516c\u53f8\u53d1\u6398\u65b0\u4eba\u3002\u6ce1\u6ce1\u739b\u7279\u5bfb\u6c42\u7684\u662f\u6709\u6f5c\u529b\u6210\u4e3a\u672a\u6765\u7684\u201c\u660e\u661f\u201d\uff0c\u4f46\u662f\u5c1a\u672a\u88ab\u5546\u4e1a\u5316\u7684<\/span>IP<\/span>\u3002\u6ce1\u6ce1\u739b\u7279\u5e38\u5e38\u5728\u5404\u79cd\u56fd\u9645\u52a8\u6f2b\u5c55\u4e0a\u5bfb\u627e\u6700\u53d7\u6b22\u8fce\u7684\u827a\u672f\u5bb6\uff0c\u5018\u82e5\u70ed\u95e8\u7684<\/span>IP<\/span>\u8fd8\u6ca1\u6709\u7b7e\u7ea6\u6388\u6743\uff0c\u6ce1\u6ce1\u739b\u7279\u5c31\u4f1a\u8bd5\u56fe\u5c06\u5176\u7eb3\u5165\u81ea\u5df1\u7684\u5546\u4e1a\u7248\u56fe\u3002\u6bd4\u5982\u6ce1\u6ce1\u739b\u7279\u6367\u7ea2\u7684\u7b2c\u4e00\u4e2a\u6f6e\u73a9<\/span>IP Molly<\/span>\uff0c<\/span>2016<\/span>\u5e74\u4e0e\u9999\u6e2f\u827a\u672f\u5bb6\u738b\u4fe1\u660e\u7b7e\u7ea6\u524d\u5e74\u9500\u91cf\u53ea\u6709\u51e0\u767e\u4e2a\uff0c\u6ce1\u6ce1\u739b\u7279\u5c06\u5176\u63a8\u5e7f\u5230\u5168\u4e16\u754c\u5e74\u9500\u91cf\u4e0a\u767e\u4e07\u4e2a\u751a\u81f3\u5343\u4e07\u4e2a\u3002<\/span><\/p>\n

\u800c\u4ece\u5c0f\u4f17\u827a\u672f\u53d8\u6210\u5927\u4f17\u7206\u6b3e\u7684\u8fc7\u7a0b\uff0c\u5c31\u5305\u542b\u4e86<\/span>IP<\/span>\u5f00\u53d1\u7684\u8fc7\u7a0b\u3002\u5c0f\u4f17\u827a\u672f\u7684\u7279\u70b9\u672a\u5fc5\u5951\u5408\u5927\u4f17\u5e02\u573a\u7684\u54c1\u5473\u3002\u6bd4\u5982\u4eca\u5929\u7684<\/span>Labubu<\/span>\u65e0\u8bba\u662f\u4ece\u957f\u76f8\u80a4\u8272\u8fd8\u662f\u670d\u9970\uff0c\u90fd\u548c<\/span>2019<\/span>\u5e74\u6ce1\u6ce1\u739b\u7279\u548c\u827a\u672f\u5bb6\u9f99\u5bb6\u5347\u7b7e\u7ea6\u65f6\u7684<\/span>Labubu<\/span>\u5f88\u4e0d\u4e00\u6837\u3002\u63a8\u5411\u5927\u4f17\u5e02\u573a\u540e\uff0c<\/span>Labubu<\/span>\u7684\u6bcf\u4e00\u4ee3\u5728\u5f62\u8c61\u4e0a\u90fd\u6709\u6240\u66f4\u8fed\u3002\u8fd9\u4e9b\u53d8\u5316\u5c31\u662f\u6ce1\u6ce1\u739b\u7279\u5728\u827a\u672f\u4e0e\u5546\u4e1a\u4e4b\u95f4\u7684\u5e73\u8861\u3002<\/span><\/p>\n

\u8981\u8ba9\u5927\u4f17\u5e02\u573a\u8ffd\u6367\uff0c\u8fd8\u9700\u8981\u8017\u8d44\u5de8\u5927\u7684\u54c1\u724c\u8425\u9500\u3002<\/span>Labubu 2024<\/span>\u5e74\u7684\u201c\u7a81\u7136\u201d\u8d70\u7ea2\uff0c\u79bb\u4e0d\u5f00\u5168\u7403\u5e74\u8f7b\u5973\u5b69\u8ffd\u6367\u7684<\/span>Blackpink<\/span>\u97e9\u6d41\u5973\u56e2\u4e2d\u7684<\/span>Lisa<\/span>\u5728<\/span>2024<\/span>\u5e74<\/span>4<\/span>\u6708\u5728\u793e\u4ea4\u5a92\u4f53\u4e0a\u7684\u201c\u5e26\u8d27\u201d\u3002\u800c\u5982\u4eca<\/span>Labubu<\/span>\u5728\u6d77\u5916\u5e02\u573a\u7684\u5f3a\u52b2\u8868\u73b0\uff0c\u4e5f\u79bb\u4e0d\u5f00\u7f8e\u56fd\u6d41\u884c\u97f3\u4e50\u5de8\u661f<\/span>Rihanna<\/span>\uff0c<\/span>NBA<\/span>\u7403\u661f<\/span>LeBron James, <\/span>\u548c\u6cf0\u56fd\u516c\u4e3b\u7684\u52a0\u6301\u3002\u660e\u661f\u6548\u5e94\u5728\u793e\u4ea4\u5a92\u4f53\u7684\u201c\u75c5\u6bd2\u5f0f\u201d\u4f20\u64ad\u4e0b\uff0c<\/span>Labubu<\/span>\u8fc5\u901f\u5728\u7ebf\u4e0a\u8d70\u7ea2\u3002\u800c\u7ebf\u4e0a\u7684\u5927\u6570\u636e\u548c\u7b97\u6cd5\u66f4\u662f\u8ba9<\/span>Labubu<\/span>\u5982\u864e\u6dfb\u7ffc\uff0c\u8ba9\u8425\u9500\u7cbe\u51c6\u5b9a\u4f4d\u76ee\u6807\u6d88\u8d39\u8005\uff0c\u5c06\u54c1\u724c\u7684\u77e5\u540d\u5ea6\u8fc5\u901f\u8f6c\u5316\u4e3a\u8d2d\u4e70\u6b32\u3002<\/span><\/p>\n

\u5982\u679c\u8bf4\u6367\u7ea2\u4e00\u4e2a<\/span>IP<\/span>\u7684\u82b1\u8d39\u662f\u6295\u8d44\uff0c\u90a3\u4e48\u6295\u8d44\u5c31\u9700\u8981\u6709\u56de\u62a5\u3002\u4e00\u65e6<\/span>IP<\/span>\u8d70\u7ea2\uff0c\u6ce1\u6ce1\u739b\u7279\u9700\u8981\u5c3d\u53ef\u80fd\u5730\u5ef6\u957f\u5176\u751f\u547d\u5468\u671f\uff0c\u589e\u5f3a\u5176\u53d8\u73b0\u80fd\u529b\u3002\u65e0\u8bba\u662f\u51e0\u5341\u5143\u7684\u76f2\u76d2\uff0c\u8fd8\u662f\u4e0a\u4e07\u5143\u7684\u9650\u91cf\u7248\uff0c\u65e0\u8bba\u662f\u9189\u7231\u5728\u6d77\u8fb9\u7cfb\u5217\uff0c\u8fd8\u662f<\/span>Mini Labubu<\/span>\u7cfb\u5217\uff0c\u90fd\u662f\u4e3a\u4e86\u8ba9\u4e00\u4e2a<\/span>IP<\/span>\u4ee5\u4e0d\u540c\u5f62\u5f0f\u5448\u73b0\uff0c\u4e0d\u4ec5\u589e\u52a0\u8001\u7c89\u4e1d\u7684\u590d\u8d2d\uff0c\u4e5f\u5438\u5f15\u65b0\u7c89\u4e1d\u7684\u52a0\u5165\u3002<\/span><\/p>\n

\u5018\u82e5<\/span>Labubu<\/span>\u6709\u4e00\u5929\u4e0d\u518d\u6d41\u884c\uff0c\u6ce1\u6ce1\u739b\u7279\u662f\u5426\u6709\u80fd\u529b\u6253\u9020\u4e0b\u4e00\u4e2a<\/span>Labubu<\/span>\uff1f\u8fd9\u5c31\u6d89\u53ca\u5230<\/span>IP<\/span>\u7684\u521b\u65b0\u3002\u6ce1\u6ce1\u739b\u7279\u7684<\/span>IP<\/span>\u8fdc\u4e0d\u6b62<\/span>Labubu<\/span>\u548c<\/span>Molly<\/span>\uff0c\u5176\u7b7e\u7f72\u6388\u6743\u7684<\/span>IP<\/span>\uff0c\u81ea\u4e3b\u5f00\u53d1\u7684<\/span>IP<\/span>\uff0c\u4ee5\u53ca\u5408\u4f5c\u7684<\/span>IP<\/span>\uff0c\u8fd8\u6709\u5f88\u591a\u3002\u867d\u7136\u8fd9\u4e9b<\/span>IP<\/span>\u4e0d\u662f\u6bcf\u4e2a\u90fd\u80fd\u8fbe\u5230<\/span>Labubu<\/span>\u7684\u6d41\u884c\u7a0b\u5ea6\uff0c<\/span> Labubu<\/span>\u7684\u8fd0\u4f5c\u6a21\u5f0f\u4e5f\u4e0d\u80fd\u7b80\u5355\u590d\u5236\uff0c\u4f46\u662f\u6ce1\u6ce1\u739b\u7279\u5728\u6f6e\u73a9\u884c\u4e1a\u7684\u591a\u5e74\u7ecf\u9a8c\uff0c\u8ba9\u8d44\u672c\u5e02\u573a\u76f8\u4fe1\u6ce1\u6ce1\u739b\u7279\u6bd4\u522b\u7684\u6f6e\u73a9\u516c\u53f8\u66f4\u6709\u53ef\u80fd\u6253\u9020\u4e0b\u4e00\u4e2a<\/span>Labubu<\/span>\u3002<\/span><\/p>\n

\u4e0b\u4e00\u4e2a<\/span>Labubu<\/span>\u5728\u54ea\u91cc\uff1f\u6ce1\u6ce1\u739b\u7279\u7684\u9020\u661f\u795e\u8bdd\u80fd\u5426\u7ee7\u7eed\uff1f\u6f6e\u73a9<\/span>IP<\/span>\u5982\u540c\u77ac\u95f4\u4e07\u53d8\u7684\u5929\u6c14\uff0c\u53ef\u4ee5\u4ed4\u7ec6\u7814\u7a76\uff0c\u4f46\u96be\u4ee5\u7cbe\u51c6\u9884\u6d4b\u3002\u5bf9\u4e8e\u4e0b\u4e00\u4e2a<\/span>Labubu<\/span>\uff0c\u6211\u4eec\u62ed\u76ee\u4ee5\u5f85\u3002<\/span><\/p>\n

\u8303\u4ead\u4ead\u535a\u58eb<\/strong>
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