Can Pop Mart sustain the Labubu juggernaut as China sales cool? (opens original article in a new tab)

Pop Mart's Chinese online sales dropped 5% in May 2024, raising concerns about the sustainability of its IP demand, including Labubu, as analysts predict ongoing sales pressure in 2026.

• Pop Mart's domestic online sales declined 5% year-on-year in May 2024
• Sales fell 14% from April 2024, 25% below the second-half 2023 average
• Analysts predict continued sales pressure in 2026 due to higher comparison base and waning IP popularity