Pop Mart Third-Quarter Revenue Drops Up to 50 Percent

Pop Mart reported a 45 to 50 percent year-on-year decline in revenue for the third quarter, marking a significant slowdown across all major global markets. The Chinese toymaker, known for its Labubu collectible dolls, saw its most severe losses in the Americas, where revenue fell 70 to 75 percent, and the Asia-Pacific region, excluding mainland China and Oceania, which experienced a 65 to 70 percent drop.

Performance in other regions also declined. Revenue in mainland China decreased by 25 to 30 percent, while Europe and other markets recorded a 50 to 55 percent decline. The downturn was most pronounced within overseas operations and online sales channels.

These results have led investors to question the long-term demand for the company's collectible doll products as the brand struggles to maintain its previous growth trajectory internationally.