谁能在泡泡玛特门店,买到Labubu?

20社
Mar 05

文 | 20社,作者 | 罗立璇最近的市场对于泡泡玛特,有点悲观。在当下,泡泡玛特的股价在190元位置徘徊,离2025年年内最高点340港元/股,已经下跌了超过四成。很多海外投资人对于泡泡玛特的信念,已经开始动摇。伯恩斯坦的分析师认为,Labubu的销量或许在明年就会见顶,IP集中度过高,二手价格正在下跌,热度下降。而摩根斯坦利则担心,泡泡玛特的核心消费者品牌忠诚度低,基础参与度低,增长主要靠短暂...

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