Sold out in just one minute after launch! Price skyrockets over 8 times, netizens say: It's outrageous, impossible to get!

On March 12th at 10 PM, Pop Mart launched the “Dream Adventure” blind box series featuring LABUBU in collaboration with Sanrio’s family of characters, under the THE MONSTERS series. Thanks to the popularity of two major IPs, the series sold out immediately online.

The new product sold out within just one minute of release. The Pop Mart mini-program showed it was sold out, and the Pop Mart Tmall flagship store also sold out in seconds, with over 30,000 units sold instantly. The simultaneously released LABUBU×HELLO KITTY rubber plush toy priced at 599 yuan also sold out, with sales exceeding 9,000 units.

It is reported that this LABUBU x Sanrio blind box series includes 7 characters: 6 regular and 1 hidden. The design features LABUBU’s classic style combined with exclusive outfits of Sanrio’s iconic IPs such as Hello Kitty, Kuromi, and My Melody. Each blind box costs 159 yuan, with a full set priced at 954 yuan. The chance of obtaining the hidden version is 1 in 72. The products officially went on sale in physical stores on March 13.

On social media, related topics quickly gained popularity, with over ten thousand discussion posts. Many fans commented, “Been waiting so long for the sale, finally available, but I was too slow to grab one,” “The double IP collaboration looks great, hope I can buy one offline,” and some shared shopping tips, looking forward to restocks.

The surge in sales quickly spread to the secondary market, with noticeable premium pricing.

Data from the Dewu app shows that the market price for the hidden “Classic Hello Kitty” version rose from 159 yuan to a peak of 1,490 yuan, an 8.4x premium. It then stabilized, with current market prices around 847 yuan, a 4.3x premium. Among regular versions, “Hello Kitty” remains more popular, with market prices rising from 159 yuan to a peak of 430 yuan, a 1.7x premium. Other regular versions like Kuromi and My Melody are priced between 270 and 320 yuan.

The market price for the hidden “Classic Hello Kitty” keychain from the Pop Mart x Sanrio collaboration has reached an 8.4x premium.

This collaboration’s success has also brought a turning point for Pop Mart’s recent IP market performance. LABUBU, as its core IP, contributed 34.7% of the company’s revenue in the first half of 2025, becoming a key driver of growth. According to Pop Mart founder Wang Ning, the total sales of LABUBU in 2025 are expected to exceed 100 million units.

A survey conducted by Citigroup Research in partnership with its Innovation Lab among global Pop Mart consumers shows that LABUBU remains the most attractive core IP. 47% of respondents own LABUBU products, and nearly half first encountered Pop Mart through LABUBU.

However, since the end of last year, LABUBU, as Pop Mart’s top trending collectible IP, has seen its “hard-to-get” status decline, with market prices gradually collapsing. The topic of “Pop Mart starting to sell at half price” has been trending for several days. Pop Mart’s stock price also experienced a continuous decline, dropping over 40% from August to December 2025, with a market value evaporating over HKD 180 billion.

Sources | Jiemian News, Shenzhen News Network, Blue Whale News

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