Luxury brands are using bag charms to sustain growth as big-ticket demand slows. Coach parent Tapestry reported Q4 revenue of $1.72 billion, up 8.3% YoY, with Coach rising 14% to $1.43 billion. Lower-priced accessories like Cherry Bag Charm drive traffic. The “Labubu Effect” reflects younger consumers personalizing luxury bags. Pop Mart’s Q1 2025 revenue surged 89% YoY, with Labubu contributing over 40% of 1.5 billion RMB ($206 million) net profit.