Pop Mart Q1 Revenue Growth Slows to 80% as Labubu Momentum Fades Overseas
Updated
Updated · Bloomberg · May 12
Pop Mart Q1 Revenue Growth Slows to 80% as Labubu Momentum Fades Overseas
1 articles · Updated · Bloomberg · May 12
Pop Mart said first-quarter revenue rose as much as 80% year on year in the period ended March, slowing from the breakneck pace it posted in 2025.
China remained the main support, with sales there increasing as high as 105%, while the company pointed to a sharp overseas slowdown as Labubu demand cooled.
The deceleration follows a 2025 surge when overall revenue jumped 185% and overseas sales climbed nearly 300%, fueled by the global craze for the snaggle-toothed Labubu plush.
The update suggests Pop Mart is now lapping the peak of its blockbuster toy boom, with investors watching whether new products can offset softer international momentum.
With its hit Labubu toy fading and US sales dropping, can Pop Mart's ambitious global expansion plan actually succeed?
Why did an 80% revenue growth report cause Pop Mart's stock to plunge, wiping out billions in value?