BIZ BUZZ: In love with Labubu
The relationship between the Philippines and China has turned decidedly frosty under the Marcos administration, which has been consistently calling out the giant nation for its repeated incursions into Philippine territory.
But any tensions in the political sphere are certainly not felt in the country’s retail scene, if the patronage— bordering on obsession—for the bevy of collectibles sold by Beijing-based Pop Mart is any indication.
Pop Mart, a rising force in the global retail and entertainment industry, was introduced to the Philippines through the first pop-up store at SM Mall of Asia, with the second iteration to open today at SM Makati, just in time for Valentine’s Day and the celebration of the love month.
The reception to the collectible toy company, with its characters such as Labubu, Crybaby, Hirono, Molly, Skullpanda and Dimoo that appeal to the so-called “kidults,” or adults in touch with their inner child, has indeed been so warm that it has prompted the company to decide to open up permanent stores sometime this year, with the first to open most likely at SM Megamall.
But while plans for the standalone store are being finalized, expect teaser Pop Mart outlets to start popping up in an SM mall near you.
