Pop Mart revenue slides as Labubu craze cools
Revenue at Pop Mart, the parent company of the Labubu collectible figures, has declined as buyer interest in the toys fades.
Pop Mart, the company behind the quirky Labubu collectible monsters, has reported falling revenue as consumer enthusiasm for the figures weakens. The toys had enjoyed a period of intense popularity that appeared to have no limit.
The slowdown marks a shift for the firm, which has relied heavily on demand for its blind-box style collectibles. Reduced appetite for the characters has translated into weaker sales.