#75: Devil Wears Prada II underperforms, Xinhua enters GEO, Labubu fridge goes viral, Samsung exits China | Following the Yuan
Is the Labubu fridge going to save Pop Mart?
Brands mentioned in this issue: Mengniu, Miu Miu, Saint Laurent, Pop Mart, Samsung, Xinhua, Deepseek, Nordisk, NNormal, Nanamica, Mammut
📊 BIG STAT
China’s May Day travel numbers grow, but per-capita spending quietly slips // China’s Ministry of Culture and Tourism reported 325 million domestic trips during the May Day holiday, up 3.6% year-on-year, with total tourism spending reaching 185.5 billion RMB (+2.9%).
At the same time, per-trip spending came in at roughly 571 RMB, down from 574 RMB over the same period last year — a subtle sign that while more people are traveling, they’re spending a little less each time. We see the same pattern in dining and delivery.
🎭 CONSUMER CULTURE
China’s singles are “training for the Olympics”// A growing cohort of Chinese office workers who once hated PE class are now logging three-a-day workouts, using AI as training coaches, and only scheduling restaurant dates on ‘cheat days’.
This reflects the organic momentum of sports as a culture and as an identity among the early adopters, set against the larger backdrop of China’s policy support surrounding Xi Jinping’s vision of building “a leading sports nation (体育强国).”
💄 FASHION & BEAUTY
Miu Miu and Saint Laurent face backlash after blacklisting Hangzhou’s livestreaming districts // Miu Miu’s Tmall flagship was caught blocking orders from at least three Hangzhou neighborhoods — Yingfeng, Xixing, and Sijiqing — all major hubs for livestream commerce and MCN agencies, following a similar move by Saint Laurent days earlier.
The brands appear to be fighting rampant “wear-and-return” abuse by livestreamers, but the blanket geo-blocks also locked out ordinary residents, sparking accusations of regional discrimination.
Both brands quietly lifted the restrictions after media exposure. The episode coincides with a broader luxury rebound in China: Shanghai’s HKRI Taikoo Hui posted an 81.5% jump in Q1 2026 retail sales, fueled by the LV ship “The Louis” installation.
🍽️ FOOD & BEVERAGE
Diary producer Mengniu enters the protein water market // Dairy giant Mengniu debuted a whey protein isolate water at the Dalian Marathon on April 26 — a clear, mineral-water-like 250ml bottle that packs 10g of whey protein for 9.9 RMB. The launch follows Mengniu’s dairy-calcium electrolyte drink released earlier this year, as the company pushes deeper into China’s sports nutrition segment amid a 400-million-strong fitness population.
🛍️ RETAIL
Pop Mart’s LABUBU fridge resale prices spike to 90,000 RMB // Pop Mart launched its first home appliance — two LABUBU-themed mini fridges priced at 5,999 RMB each, 999 units only — on April 30, and they sold out instantly, with over 47,000 pre-registrations. Resale listings on secondhand platforms hit as high as 92,300 RMB, a 15x markup, before the drop.
The move extends Pop Mart’s IP empire beyond toys. LABUBU’s THE MONSTERS family alone generated 14.16 billion RMB in 2025 revenue, accounting for 38% of the company’s record 37.12 billion RMB total.
🎬 ENTERTAINMENT
The Devil Wears Prada II underwhelms in China amid backlash // The sequel opened in China on April 30, right before the 5-day May holiday. It is ranked 4th on the national chart with 76.65 million after two weeks, according to the Maoyan Pro.
Pre-release buzz soured after a clip introduced an Asian assistant character whose name was widely perceived to echo the derogatory slur “Ching Chong,” while her nerdy, socially awkward portrayal was criticized for reinforcing Western stereotypes of high-achieving but unsophisticated Asians. The backlash triggered boycott calls on Chinese social media.
🧠 TECH
Xinhua launches GEO platform // State news agency Xinhua launched its own Generative Engine Optimization platform on May 9, aiming to both establish itself as an AI SEO pioneer and a rule-setter.
Partnering with China Academy of Information and Communications Technology (China’s telecom standards body), it is drafting China’s first national GEO compliance standard, targeting rampant industry abuses like fabricated authority signals and AI “data poisoning.” The signal is clear: with both Google and Chinese state media now formally endorsing GEO as a real discipline, the game shifts from gaming AI models to earning their trust.
Samsung exits Mainland China’s home appliance market // Samsung Electronics announced on May 6 that it will stop selling all home appliances — including TVs, monitors, fridges, washing machines, and air conditioners — in mainland China.
The retreat caps a long decline: Samsung’s China TV sales had fallen to roughly 5% of their 2014–15 peak, and its appliance division posted its first-ever operating loss in 2025. The move frees Samsung to double down on semiconductors, which accounted for 94% of the company’s operating profit in Q1 2026 — smartphones remain on sale in China.
DeepSeek seeks record 50 billion RMB in first-ever funding round // DeepSeek is seeking to raise up to 50 billion RMB in its debut external funding round, which would be the largest single raise by a Chinese AI company to date, valuing the company at roughly 350 billion RMB.
Founder Liang Wenfeng will personally put in 20 billion RMB, while China Integrated Circuit Industry Investment Fund (known as the “Big Fund”) is in talks to lead. The move marks a sharp pivot for a company long defined by its refusal to take outside money.
🏃♂️ SPORTS
Premium outdoor brands race to plant flags in top-tier cities// A wave of international sport and outdoor labels opened China debut stores in recent months — Japanese urbanwear label Nanamica opened in Shanghai, while Spanish trail-running brand NNormal and Danish camping brand Nordisk also entered the market, joining Mammut in a broader push by premium outdoor brands to secure prime retail locations in China’s top-tier cities.
The prime retail spots once dominated by luxury fashion houses are now being snapped up by performance brands, one storefront at a time.
🌍 TRAVEL & TOURISM
Chinese tourists are geocaching hidden textbooks at landmarks worldwide // A viral “textbook relay” trend has Chinese travelers hiding high school textbooks at the very landmarks pictured on their covers — Big Ben in London, the Pyramids in Cairo, the Colosseum in Rome — then posting coordinates on RedNote for strangers to find, sign, and re-hide them.
The game has drawn millions of views and even a nod from the Chinese Embassy in London, turning shared classroom nostalgia into a global scavenger hunt.
China’s viral “boyfriend NPC” craze hits a wall // A flirtatious male NPC called “Little Yellow Fish” at Jiangxi’s theme park Gexian Village went viral for feeding lollipops mouth-to-mouth and staging faux-wedding skits with visitors.
On May 1, a commentary in state media People’s Daily called the acts vulgar, which pressured the park to apologize and overhaul its program — the performer now tucks flowers behind visitors’ ears instead. But the crackdown backfired online, with young women accusing regulators of a double standard: why does male-targeted eye candy go unchecked while female-oriented content gets shut down overnight?
🗓️ UPCOMING – PICK & CHOOSE YOUR CHINA ITINERARY IN MAY 2026
May 13-15 2026 Global Outdoor Sports&Ecosystem Expo, Shanghai
May 18-20 SIAL Shanghai 2026, Shanghai
May 21-24 China Sport Show, Xiamen
May 22-24 2026 the 9th Beijing Catering Procurement Exhibition, Beijing
News gathering & writing: Rongrong Zhuge
Editor: Yaling Jiang