Changes in Hong Kong stocks | Bubble Mart (09992) rose nearly 4% in the afternoon, LVMH executives joined the company's board of directors, and Dama said it is expected to increase Labubu's appeal

The Zhitong Finance App learned that Bubble Mart (09992) rose nearly 4% in the afternoon. As of press release, it had risen 3.28% to HK$195.4, with a turnover of HK$1,342 billion.

According to the news, on December 11, Bubble Mart announced that the board of directors added Wu Yue, president of LVMH Greater China Group, as a non-executive director. According to public information, Wu Yue has been with LVMH for 20 years and is deeply involved in building channels, membership and talent systems for luxury brands in Greater China. Some industry insiders pointed out that Wu Yue joining the board of directors of Bubble Mart is an endorsement of the brand, which means that Bubble Mart is integrating into the core of international fashion trends.

Morgan Stanley released a research report saying that this personnel change will significantly enhance the company's ability to mobilize high-end fashion resources and enhance the market appeal of the core IP Labubu. Analysts pointed out that the market previously had concerns about the sustainability of Labubu and the company's growth, and Wu Yue's addition sends a signal that IP has been highly recognized by the fashion industry, and is expected to introduce new traffic and incremental scenarios for Bubble Mart in the direction of high-end members and fashion jewelry co-branding.