Kevin O’Leary has turned his attention to the collectibles market, showcasing a Louis Vuitton Labubu on the set of Shark Tank.
This Is Why O'Leary Is Bullish On Collectibles
According to a report by Fortune, O’Leary believes this asset class has potential longevity.
O’Leary’s Labubu, a creation of the Chinese company Pop Mart, is not for sale despite multiple offers. These toys, often sold in “blind boxes,” have gained global popularity, partly due to celebrity endorsements.
Pop Mart’s net profit surged 400% in the first half of the year, and its Hong Kong-listed shares have risen 246% year-to-date, according to the report.
Labubu Sales Double In 5 Months
On StockX, Pop Mart has led collectible brands since October 2024, driven by Labubu’s popularity. Sales in June doubled those in January, with 2.4 million searches for “Labubu” in the first half of the year. Some toys, retailing at $40, have fetched $4,000 on StockX.
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O’Leary also sees potential in collectible sports cards, noting a monthly trading volume of $380 million to $400 million. He compared this market to modern art 20 years ago, highlighting its growth potential. A 2013 “Innovation Kobe Bryant Kaboom!” card recently sold for $19,999, up 338% from a year ago, as reported by Card Ladder.
O'Leary's Fiscal Responsibility Tips
O’Leary’s interest in collectibles comes amid a broader discussion on wealth management and financial independence.
Recently, he shared his insights on wealth, emphasizing the importance of financial discipline and self-reliance. O’Leary, who sold his software company to Mattel for $4.2 billion, has been vocal about teaching financial responsibility, even recounting how he cut off his son’s trust fund to encourage academic excellence.
Additionally, O’Leary’s comments on economic conditions, such as the Federal Reserve’s interest rate policies, highlight the complexities investors face. He noted that Federal Reserve Chair Jerome Powell might resist rate cuts due to economic growth and AI-driven productivity, creating a challenging environment for traditional investments.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Kathy Hutchins / Shutterstock.com
