Pop Mart shares slide as third-quarter revenue drops by half

OPA WIRE, Oct 28 (OPA) — Pop Mart International Group, the company behind the popular Labubu character, saw its stock price extend recent losses on Tuesday. The decline follows a disclosure that third-quarter revenue plummeted between 45% and 50% compared to the same period last year.

The sharp downturn marks a reversal for the Beijing-based retailer, which had previously experienced rapid growth driven by the viral success of its collectible art toys. Investors reacted negatively to the figures, further pressuring the company's market valuation as consumer spending patterns shift.

Pop Mart has expanded aggressively into international markets over the past two years, leveraging social media trends to drive demand for its blind-box products. The company’s reliance on specific character intellectual property has historically fueled high margins, but the latest data suggests a cooling in demand for its core product lines.

Analysts are now monitoring whether the company can stabilize its revenue trajectory in the final quarter of 2026. The firm has not yet provided updated guidance for the full fiscal year, leaving market participants to weigh the impact of the current sales slump on long-term profitability.