Chinese customs authorities have repeatedly stopped suspected smugglers of Pop Mart toys, including its Labubu and Molly series, as prices for the dolls soar amid a global expansion for the Beijing-based retailer.
Advertisement
Customs agents have intercepted undeclared toys multiple times from passengers “allegedly seeking to profit from resales”, China Daily reported.
In one case, 318 toys were confiscated from three travellers at Changsha Huanghua International Airport in Hunan province, according to the state-run news outlet. In another case, it reported that a passenger at Hefei Xinqiao International Airport in Anhui province was caught with 94 toys, all intended for resale.
Travellers are reportedly buying the toys overseas and bringing them back into China, according to media reports and analysts.
Founded in 2010, Pop Mart is rapidly expanding internationally and now has more than 500 stores in over 30 countries and regions. The company’s most sought-after toys sometimes sell at lower prices offshore than in China because of currency fluctuations or local discounts.
Advertisement
“To put it simply, the high price is both about hype and the effect of international popularity,” said Peng Peng, executive chairman of the Guangdong Society of Reform think tank.
“Chinese consumers and businesspeople are interested, more or less,” he added. “Business opportunities that can promote consumption cannot be missed.”