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Pop Mart Founder Loses $6 Billion Amid Doll Sales Plunge

9/15/2025

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Summary

Story summary

Wang Ning, founder of Pop Mart International Group, saw his net worth drop nearly $6 billion to $21.6 billion due to declining Labubu doll sales in China.
Pop Mart's shares fell over 20% since the Labubu 4.0 series release, with prices down 14.3% to 150 yuan.
Despite selling 710,000 mini Labubus shortly after launch, secondary market prices for collectibles dropped 80% in 90 days.
Analysts maintain a "buy" rating, highlighting strong intellectual properties and overseas expansion potential.
Pop Mart's revenue from Labubu and related series reached RMB 4.81 billion in the first half of 2025.

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Story summary

Wang Ning, founder of Pop Mart International Group, saw his net worth drop nearly $6 billion to $21.6 billion due to declining Labubu doll sales in China.
Pop Mart's shares fell over 20% since the Labubu 4.0 series release, with prices down 14.3% to 150 yuan.
Despite selling 710,000 mini Labubus shortly after launch, secondary market prices for collectibles dropped 80% in 90 days.
Analysts maintain a "buy" rating, highlighting strong intellectual properties and overseas expansion potential.
Pop Mart's revenue from Labubu and related series reached RMB 4.81 billion in the first half of 2025.