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Pop Mart Shares Plunge 23% Despite Strong Revenue Growth

3/25/2026

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Summary

Story summary

Pop Mart International Group's shares fell nearly 23% after its 2025 earnings report highlighted heavy reliance on Labubu dolls.
The company posted 185% revenue growth to 37.1 billion yuan ($5.4 billion) and a 309% rise in profit, but missed analysts' expectations.
Pop Mart plans to diversify offerings and expand globally, including a Sony Pictures partnership for a Labubu movie, in response to the cooling Labubu craze and fourth-quarter slowdown.

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Story summary

Pop Mart International Group's shares fell nearly 23% after its 2025 earnings report highlighted heavy reliance on Labubu dolls.
The company posted 185% revenue growth to 37.1 billion yuan ($5.4 billion) and a 309% rise in profit, but missed analysts' expectations.
Pop Mart plans to diversify offerings and expand globally, including a Sony Pictures partnership for a Labubu movie, in response to the cooling Labubu craze and fourth-quarter slowdown.