Is Pop Mart going crazy? Spending big money on home appliances

Recently, Pop Mart has had two major events, and I want to share them with everyone. To help everyone keep track of the company.
The first is the LABUBU refrigerator
This is Pop Mart's first truly launched home appliance, first released on JD.com at the end of April.
The most important thing is to clarify the limited quantities: there are two versions in total—Home version and House of the Monsters version. Each version is limited to 999 units worldwide, and each has a unique serial number.
So the total is 1,998 units, priced at 5,999 yuan each. This isn’t called selling appliances; it’s leveraging the LABUBU IP to test extending the collectible toy attributes into the home appliance field, focusing on scarcity and scene-based marketing.
The second is Pop Mart City Park
Original opening date: September 26, 2023, official opening.
Current renovation/revamp progress:
• Currently in the final stage of Phase One renovation, with the entire project taking a year.
• On April 30, Phase One new area was opened (mainly featuring LABUBU and DIMOO IP zones), with about 70% of new facilities ready, opening early for the May Day holiday crowd.
• On July 30, full opening will occur, with all remaining areas and facilities completed and operational.
• In 2027, Phase Two construction will begin, adding themed scenes like SKULLPANDA and Star People.
These two events from Pop Mart actually revolve around one core idea:
To make IPs like MOLLY and LABUBU not just exist in blind boxes but also “stand firm” in everyone’s daily life.
But how far can Pop Mart’s two strategic moves go? That’s still a question mark.
On one side is the LABUBU refrigerator, priced at 5,999 yuan, with fewer than 2,000 units total for two units—Is this a high-end trial to realize the high value of the IP, or just a limited-edition gimmick to harvest fans? After all, when people buy appliances, they still care about brand and practicality.
On the other side is Beijing Park,
Starting with part of it, fully opening by the end of July, continuously updating facilities. Is this aiming to make the park a “offline base” to accumulate fans, creating long-term value through ongoing operation? Or is it just to handle holiday crowds, maintaining popularity with rebranded facilities? Operating offline venues is no small challenge.
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