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The report also added that Labubu’s tourism activities in Thailand also “perfectly” fit in with the Thai government’s policy of providing travel convenience to foreign tourists, namely visa-free entry for tourists from 93 countries and regions.
“These include Chinese tourists, who are an important group in Thailand’s tourism industry, and are allowed to stay in Thailand for up to 60 days.”
In January, Thailand and China Signed a visa exemption agreement to promote travel and tourism The agreement came into effect on March 1.
On Monday (July 8), Thailand’s Tourism and Sports Minister Sermsak Pongpanit said the monster’s visit is expected to help Thailand achieve its goal of receiving 8 million Chinese tourists this year.
He added that the Labubu campaign would push Chinese tourist numbers towards the target after 3.5 million people visited Thailand in the first five months, according to local news outlet The Nation.
Success in Southeast Asia
Besides Pop Mart, other Chinese toy brands have also achieved great success in Thailand. The Global Times reported that 52TOYS opened its first store in Thailand in December last year and achieved revenue of 3 million RMB (412,540 USD) in the first month.
Like Pop Mart, 52Toys also collaborates with other existing series and characters, such as Tom and Jerry, Disney, and the comic series Crayon Shin-chan, as part of its range of products.
The brand said that Thailand has become the main market for Chinese toy brands to expand overseas. The main reason is that Thailand has a large young population with strong purchasing power, and such toys have a certain degree of popularity in the Thai market, and local designers also dominate.
Currently, Pop Mart has 18 physical stores in Southeast Asia, including 7 in Singapore. Wen Deyi, president of Pop Mart’s international department, told the Global Times that Pop Mart expects Southeast Asia to become its “fastest growing market.”
Labubu’s popularity has also spread to Singapore. Last month, Pop Mart launched a limited edition Merlion Labubu keychain that is exclusive to Singapore. The keychain, which is now sold out, retails for S$37.90 (US$28.07).
However, on e-commerce platform Carousell, the keychain is being resold for up to S$300, almost 10 times its original price.
Labuboo isn’t the only character driving Pop Mart’s popularity. Last year, the toy brand held its first Pop Mart toy exhibition outside of China in Singapore. The event, which has been held in Beijing and Shanghai for seven years, is set to return to Singapore in August.
The brand’s success could fuel the ambitions of rivals.
In an interview with the Global Times, 52TOYS believes that it is necessary to enter the Singapore market to establish influence in Southeast Asia.
The toy brand explained that Singapore has an “influence and radiation effect” on the region, and 52Toys can expand its influence in Southeast Asia through the Singapore market.
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