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Labubu Prices Plummet Amid Pop Mart's Revenue Surge

10/23/2025

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Summary

Story summary

Labubu resale prices in Thailand declined from more than 500 yuan to about 108 yuan, raising concerns about demand longevity.
Pop Mart reported a 250% revenue increase in the third quarter.
Analysts say the price drop results from increased supply, not weaker demand.
Pop Mart has ramped up production to around 30 million units per month.
Resellers are exploring international markets as Pop Mart expands its direct-to-consumer sales.

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Story summary

Labubu resale prices in Thailand declined from more than 500 yuan to about 108 yuan, raising concerns about demand longevity.
Pop Mart reported a 250% revenue increase in the third quarter.
Analysts say the price drop results from increased supply, not weaker demand.
Pop Mart has ramped up production to around 30 million units per month.
Resellers are exploring international markets as Pop Mart expands its direct-to-consumer sales.