Is Fufusoul China’s next billion-dollar IP?

What happened Founded in 2023, Fufusoul is positioning itself as a cross-category IP built around a furry monster named Fufu and a deceptively simple concept: a fragranced plush toy that can double as a car air freshener. Conceived from the imagination of a seven-year-old girl named Miko, the Hangzhou-based brand embeds fragrance into Fufu’s core identity rather than treating it as an add-on. The result is a product sold in toy stores and fragrance concept spaces alike — packaged more like a fashion accessory than a conventional character doll. Growth has been steady rather than explosive. When Jing Daily first covered the brand in September 2025, #fufusoul had 6.2 million reads on Xiaohongshu (also known as RedNote) and 11,300 Instagram followers. Those figures have since climbed to 7.9 million reads and 33,600 followers — durable traction that stops well short of mass-market saturation. From toy shelf to lifestyle ecosystem What distinguishes Fufusoul is not just its invention of a new product category, but its cultural flexibility. The IP has moved fluidly across industries — from automotive and retail collaborations to themed hotel afternoon teas in Guangzhou and Chongqing — and made its overseas debut with a Valentine’s Day pop-up in New York in February 2026, featuring plush drops, cocktails, and desserts. December partnerships with heritage silk brand Wensli and Thai celebrity duo ThomasKong (actors Thomas Chungmanirat and Kong Jiro, known for their BL drama fanbase across Southeast Asia) broadened its Southeast Asian reach and lifestyle credentials, while the Fufu Gallery ceramic collectible marks a further step into art-driven design. By embedding a scented character across hospitality, retail, collectibles, and experiential environments, Fufusoul is carving out a genuinely new hybrid category. That cross-industry presence makes it one to watch as a breakout collaboration IP in 2026. The Jing Take Fufusoul’s expansion makes strategic sense when viewed against broader shifts in Chinese consumer behaviour — particularly the ongoing kawaii revival and the rise of accessory-based self-expression. What sets Fufusoul apart is the deliberateness of its strategy. Rather than positioning itself as a fragrance brand alone, it is capitalising on Gen Z and Gen Alpha’s appetite for joy-driven purchasing — and a cross-industry charm obsession that shows no signs of slowing. When fragrance becomes wearable identity Its plush dolls function as both aromatic companions and fashion accessories, reflecting a wider shift in how beauty products are perceived: items like lip gloss, sunscreen, and fragrance are increasingly worn and displayed as extensions of identity rather than tucked away. This aligns neatly with the resurgence of kawaii culture among Gen Z. After years of quiet luxury dominating fashion, younger consumers are embracing exaggerated cuteness and charm aesthetics as expressive, emotionally resonant alternatives. On Xiaohongshu and TikTok, pastel textiles, plush keychains, and character accessories have become visual signifiers of mood and personality. Fufusoul sits squarely in this space, offering tactile, scented characters that serve as both décor and emotional comfort. Its collaboration strategy further amplifies that cultural relevance — partnerships with automotive brands, retail platforms, luxury hotels, and international pop-ups are pushing the IP well beyond traditional retail, transitioning it into an experiential brand. This mirrors how bag charms and plush accessories have worked their way into the daily life, décor, and conversation of young consumers. The emotional appeal of kawaii and charm culture also taps into broader psychological currents: in a period marked by global uncertainty, consumers — particularly Gen Z — gravitate toward objects that offer comfort and a sense of personal identity. Fufusoul’s scented characters do exactly that, giving users a portable, tactile piece of self-expression. The Jing Take reports on a piece of the leading news and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we analyze everything from product drops and mergers to heated debate sprouting on Chinese social media.

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Is Fufusoul China’s next billion-dollar IP?