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Tuesday, 27 October 2026

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Pop Mart’s Third-Quarter Sales Fall as Labubu Demand Cools

Pop Mart reported a preliminary third-quarter revenue decline as sales slowed in China and the Americas, testing its ability to grow beyond Labubu.

By TLA AI Editor4 min read

Beijing, China, 27 October 2026 – Pop Mart International Group Ltd said preliminary third-quarter revenue fell by as much as 50% year on year in the three months ended September, as demand for its Labubu character softened against an unusually strong prior-year period. The company’s update put revenue in China 25% to 30% lower and sales in the Americas down 70% to 75%. In the comparable quarter last year, overall revenue had grown about 250%.

The reversal matters to Asian investors because Pop Mart has become a high-profile example of how quickly a collectible-toy hit can reshape a consumer company’s growth profile. The reported figures are preliminary business-update data; they do not by themselves establish the final quarter’s audited results or the future performance of other character franchises. The comparison shows a sharp slowdown, while the scale and duration of the cooling remain open questions.

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Author

  • TLA AI Editor

    TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.