The LABUBU exhibition “Monsters by Monsters: Now and then” opens on March 7, 2026 at the Hotel du Grand Veneur in Paris, France. After touring Shanghai, Taipei and Hong Kong, the world tour celebrates the first ten years of Monsters’ 10th Anniversary, the origins of Love Bu, and arrives in Paris. The story of Lovebu, a stuffed animal that has become a pop culture icon and fashion accessory. (Photo by Riccardo Milani / Hans Lucas / AFP via Getty Images)
Riccardo Milani AFP | Getty Images
Chinese toy manufacturer stocks pop martThe company, known for its popular lovey-dovey dolls, has seen its sales decline more than 30% since the start of the year after a sharp drop in sales in the third quarter.
After falling more than 6% in early trading on Wednesday, the stock has leveled its losses, falling less than 2% in recent days. Nine of the past 12 have been in the red.
The company reported Tuesday that third-quarter sales were down 45% to 50% from a year earlier, according to a filing.
Popmart stock on October 28th.
The sharp decline in sales raises questions about whether the frenzy surrounding Lovebu and other collectible toys can sustain the company’s rapid growth, especially in overseas markets.
The decline was particularly significant overseas, with sales in the Americas dropping 70% to 75% and sales in the Asia Pacific region dropping 65% to 70%. Sales in mainland China decreased by 25% to 30%, and in Europe and the rest of the world, sales declined by 50% to 55%.
Jefferies said the results were broadly in line with buy-side expectations, but were lower than expectations for a 30% decline in sales. The brokerage cut PopMart’s profit forecasts for 2027 and 2028 by 9-12%, citing pressure on profitability from weak overseas sales.
Jefferies said its fourth-quarter sales are expected to increase 3% from the previous quarter, but remain 34% below the same period last year.
Jeffries said PopMart continues to expand globally, with a focus on flagship stores in cities such as New York, Milan and Paris, while also diversifying its portfolio of intellectual properties beyond Labub, with Scarpanda, Hirono and Twinkle Twinkle gaining traction in overseas markets.
