Pop Mart's new mini Labubu dolls sell out within minutes in China and beyond

The new mini Labubus unveiled by Chinese toymaker Pop Mart International Group sold out almost instantly at home and in major overseas markets, an indication of the still-strong demand for the rabbit-eared plush dolls.

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BEIJING -

The toys sold out within minutes after their release in Pop Mart's key markets, including the United States, Japan and South Korea, when pre-sale began at around 10am on Aug 29.

In China, all available inventory was taken almost immediately after sales opened online at 10pm on Aug 28, with the traffic causing Pop Mart's WeChat store page to freeze.

"The popularity of the new series has already demonstrated that consumers' enthusiasm for Labubu remains strong," said Mr Richard Lin, an analyst with SPDB International Holdings.

Pop Mart's shares witnessed choppy trading on Aug 29, swinging from gains of 2.2 per cent at one point to losses of 2 per cent at another.

"The market has already priced in the popularity of the mini Labubu and the stock prices have priced in the great demand," said Mr Lin.

Pop Mart shares had risen to a record after the company's founder and chief executive officer Wang Ning announced the new line of Labubu dolls last week.