Investing.com-- Pop Mart International Group Ltd (HK:9992) shares dropped as much as 6% to HK$123.8 on Wednesday, reaching an 18-month low after the company reported a sharp drop in its third-quarter sales amid cooling demand for its flagship Labubu figurines.
Pop Mart said on Tuesday evening that unaudited third-quarter 2026 revenue fell 45% to 50% year-on-year.
The decline affected all geographic markets. The Americas recorded the steepest drop, with sales falling 70% to 75% compared to the same period last year. Asia-Pacific excluding China saw revenue decline 65% to 70%, while Europe and other regions dropped 50% to 55%.
China, the company's home market, posted a relatively smaller decline of 25% to 30%. Within China, the online sales channel fell 45% to 50%.
The revenue drop stemmed primarily from weakening demand for Pop Mart's Labubu figurines. The product line had previously driven sales growth during a viral trend that has since faded. The company has not released a successful follow-up product.
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