{
  "id": 16735024,
  "title": "Labubu loses its bite as Pop Mart’s quarterly sales plunge up to 50%",
  "url": "https://urgent.news/2026/10/27/labubu-loses-its-bite-as-pop-marts-quarterly-sales-plunge-up-to-50",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-27T10:11:35.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/companies-markets/labubu-loses-its-bite-as-pop-marts-quarterly-sales-plunge-up-to-50"
  },
  "original_language": "en",
  "account": "Pop Mart International Group reported a sharp 50% plunge in third-quarter sales compared to the same period last year. The decline was attributed to dwindling demand for Labubu, a popular plush toy featuring a unique snaggle-toothed design, and a tough comparison to previous blockbuster sales in 2025. Revenue in China fell by 25% to 30%, while sales from the Americas dropped by 70% to 75%. The situation highlights the volatility that can arise from an unexpected surge in product popularity. Labubu's popularity surged in 2025, capturing the attention of K-pop idols, Hollywood celebrities, and ordinary consumers alike. However, this sudden surge in demand has now waned, leaving Pop Mart grappling with softening consumer interest both domestically and internationally. As investors eye the company's future prospects, they are concerned about the potential for a prolonged period of stagnation, with HSBC Holdings cutting its revenue forecasts for 2027 and 2028 by 8% and 9%, respectively. Despite the challenges, Pop Mart continues to expand its retail footprint through flagship stores in key markets and new product releases tied to popular intellectual properties.",
  "summary": "Revenue in China declined 25% to 30%, while sales from the Americas fell 70% to 75%.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}