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Pop Mart sales growth decelerates amid sharp overseas slowdown
Pop Mart International Group reported a slowdown in sales growth for Q1, with overall revenue increasing by 80% year-on-year, while China sales rose by 105%. The company faces pressure to regain momentum as the popularity of its Labubu toys declines. Analysts predict a further weakening in growth, with Morgan Stanley estimating a full-year revenue increase of only 13% and Deutsche Bank projecting a 2% decline in 2026. Pop Mart is collaborating with Sony Pictures on a Labubu film to expand its brand, but US sales have dropped significantly, raising concerns about future performance.
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