Labubu’s commerce strategy in Thailand even aligned “perfectly” with the government’s plan to help travel for international tourists by waiving visas for those travelling from 93 countries and territories, it added.
” This includes Chinese tourists, who are an important group for the Thai tourism industry, allowing them to stay in Thailand for up to 60 days” . ,
Thailand and China signed a joint immigration waiver agreement in January to help travel and tourism between the two nations, which became effective on March 1.  ,
Sermsak Pongpanit, Thailand’s tourism and sports minister, reported on Monday ( Jul 8 ) that the monster mascot’s trip is expected to help Thailand reach its goal of 8 million Chinese visitors this year.  ,
He added that the Labubu plan would encourage Chinese tourists to travel there after 3.5 million people arrived in the state in the first five weeks, according to regional news outlet Nation Thailand.
SUCCESS IN SOUTHEAST ASIA
Other than Pop Mart, another Chinese toy companies have enjoyed significant victory in Thailand. According to Global Times, 52TOYS opened its first store in the nation in December of last year and saw its first month’s revenue reach 3 million yuan ( US$ 412, 540 ).  ,
Like Pop Mart, 52Toys has collaborated with various existing businesses and characters such as Tom and Jerry, Disney, and Manga set Crayon Shin-chan as part of their choices.  ,
The company claimed that Thailand has grown to be a significant market for Chinese toy manufacturers to export to other countries due to the country’s large population of young people, their high consumption potential, as well as their current popularity of such products, and the presence of nearby developers in the Thai market.  ,
Now, Pop Mart has 18 real stores across Southeast Asia, with seven stores in Singapore only. Wen Deyi, president of Pop Mart’s global section, stated to Global Times that the company anticipates Southeast Asia to become its “fastest-growing marketplace.”  ,
Labubu’s reputation has even reached Singapore. Pop Mart released a limited release Merlion Labubu lanyard last month that was exclusive to Singapore. The keychain, which has since sold out, was retailed at S$ 37.90 ( US$ 28.07 ).  ,
But, listings on the e-commerce program Carousell resulted in the keychain being resold for nearly 10 times the original price.  ,
Labubu is n’t the only character driving Pop Mart’s popularity. The toys company held its second POP Toy Show outside of China last year in Singapore. The celebration, which ran for seven years in Beijing and Shanghai, is set to return to Singapore in August.  ,
The company’s success has likely spurred on competitors ‘ ambitions.  ,
According to 52TOYS, it was necessary to enter the Singaporean market in order to create a reputation in Southeast Asia, according to a report from Global Times.  ,
The toy company explained that Singapore has “influential and beaming effects” on the place, and 52Toys may expand its appearance in Southeast Asia through Singapore’s business.  ,