Once a worldwide sensation as a children's toy, the Japanese character 'Monchhichi' has made a comeback after 50 years. Recently, demand from adult consumers has surged as cute dolls and keychains have emerged as fashion items among Generation Z.
On the 3rd (local time), according to Bloomberg News, Australian influencer Sam Todd shared on social media (SNS) that he struck a 'jackpot' while looking for a Monchhichi keychain at a vintage store in Tokyo, ultimately finding one at a Harajuku toy shop. The video garnered over 300,000 views and attracted attention, leading to purchase restrictions at the store. Todd noted, "As popularity grows, everyone wants one."
According to Sekiguchi, which owns the Monchhichi brand, the sales for the fiscal year ending in February 2025 doubled compared to the previous year, reaching 4.6 billion yen (approximately 414 million won). Notably, international sales accounted for 40% of the total, driving growth. Yoshino Toshitaka, president of Sekiguchi, said, "I want to fill the world with Monchhichi."
Generation Z consumers are consuming Monchhichi not merely as toys but as 'fashion items.' On SNS, Monchhichi is listed as an essential collectible alongside Laboobu dolls, Sony Angel, Smithy, and Jellycat. The global keychain market is expected to grow from $18 billion (24.3 trillion won) in 2023 to $28 billion (37.8 trillion won) by 2033, raising the possibility of long-term demand expansion for Monchhichi.
Monchhichi was launched in 1974 and gained immense popularity beyond Japan, reaching the United States and Europe, but faced a decline in the 1980s and vanished from the market for about a decade. It briefly revived in Germany in the 1990s and in China in the 2010s, but the full-scale global boom is considered to have occurred in the last 1 to 2 years. Last year, BLACKPINK's Lisa posted shopping photos featuring Monchhichi, leading to a surge in popularity, and demand from foreigners in Japan also significantly increased due to the weak yen.
Nevertheless, Sekiguchi exercised restraint in excessive expansion under the philosophy that "what sells well today may not sell tomorrow." While increasing production in China, it maintained a limited workforce and upheld its family-owned business structure.
There were also risks. The United States is Monchhichi's largest overseas market, but orders plummeted in the first half of the year due to tariff pressures from the Trump administration. Although there has been a recent recovery, it still falls short of levels prior to the tariffs.
To compensate for these shortcomings, Sekiguchi has focused on adult consumers rather than the children's market. In the United States, it began selling through Urban Outfitters and Barnes & Noble, while collaborating with Hello Kitty and Paris Saint-Germain to expand its brand. Classic keychains are sold for about 2,200 yen in Japan and $24 in the United States, consistently generating revenue.
A fan active in Tokyo recently spent 300,000 yen on Monchhichi products, saying, "Going out without Monchhichi is like going to work without socks."