Pop Mart International reports a sharp decline in third-quarter revenue, citing weaker demand for its Labubu collectible dolls as the earlier surge cools. Multiple outlets frame the drop as both a slowdown in current sales and a challenge tied to comparisons with a strong prior period.
South China Morning Post and Bloomberg say the decline reaches as much as about half year-on-year. South China Morning Post adds a geographic breakdown, reporting revenue falls in mainland China as well as steeper declines in certain overseas regions and highlights weakness hitting overseas operations and online channels. Bloomberg emphasizes the softer Labubu momentum and a difficult year-ago base after last year’s standout performance.
Across the coverage, the core message is consistent: Labubu demand weakens, and that directly weighs on Pop Mart’s third-quarter results. The reporting differs mainly in the level of detail provided, including whether outlets focus on regional figures and channel impacts.
