Recently, the global frenzy for a character named #Labubu has been unprecedented. Across multiple countries, stores have seen lengthy queues of dedicated fans, while social media platforms are flooded with Labubu-related unboxing videos. A recent J.P. Morgan report shows that Labubu is emerging as a "super IP," surpassing #HelloKitty in search popularity as of May. What exactly is behind this global Labubu phenomenon? Let's take a closer look. #TrendinginChina | Xi's Moments
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