…it has to be sexagenarians to peddle the wares

Michelle Yeoh and Tony Leung promoting new ‘It’ bags. Photo: Moynat

It was bound to happen and it has. Labubu was anointed a luxury star by the god of fine bags, thanks to Moynat. The Paris-based leather goods maker invited Labubu’s very wealthy creator Lung Ka Sing (龙家升 or Long Jiasheng) to slap on some siblings from The Monsters franchise on their bags, specifically those made of the brand’s entry-level ‘M’ canvas. This is rather the Uniqlo-fication of Moynat. The partnerships is not surprising. If Mickey Mouse has blessed their presence on monogrammed Gucci bags, Labubu is fortuitously pre-ordained the be on Moynat’s. The rich want their share of Labubus without having to queue at Pop Mart. Who would have guessed that quiet Moynat is such a master of calculated moves.

To make the limited-edition, Labubu-ed Moynat bags more enticing, the brand has enlisted two of Asia’s biggest stars, whose renown also extends across the West: Michelle Yeoh (杨紫琼) and Tony Leung (梁朝伟). The collaboration, according to the media, is intended to engage with younger audiences in Asia. This is really fascinating as both stars are 63. Marketing professionals we spoke to say that this is a “multi-layered, cast-the-net-wide approach to luxury brand marketing”, as one consultant told us. Assuming that the Gen-Z adopters of Labubu are also massive fans of Ms Yeoh and Mr Leung, might they appeal to the elderly ‘kidults’ as well? On our shores, ‘Silver’ Passion Card holders are mighty feverish Labubu fans, too.

The campaign images show the two stars swarmed by Moynat bags that sport Labubu appliqués or are hung with charms of the sharp-tooth elfs. Michelle Yeoh looks nice enough, although she seems to be asking us with her eyes, “what am I doing here?” Tony Leung, indeed, appears out of place. Wearing a distressed army-green sweater with frayed sleeves, he seems overwhelmed by the bags. The image could be mistaken for a poster that encourages the elderly to seek help if they are prone to hoarding. Sure, this is not quite Joan Didion for Celine in 2015. The Monyat campaign is not about intellectual cool; it is, as some reports put it, about “playful conmsumerism”. Sure, and a trust fund isn’t about merit; it’s about playful capitalism.