The popularity of the character Labubu has sharply declined, leading to a significant decrease in the stock price of its owner, Pop Mart. Since August 2025, the company's shares have plummeted by approximately 60%, resulting in a loss of about $33 billion. Once a top intellectual property, Labubu helped boost Pop Mart's stock by 300% last year, but that surge has not lasted.
In 2024, Labubu and the related Monsters series contributed to around 40% of Pop Mart's total revenue, an increase from 23% the previous year. However, the company has struggled to replicate that success across other product lines, with other figures like Crybaby and Molly failing to meet sales expectations.
The future of Labubu appears uncertain, with concerns about Pop Mart’s viability going forward. The upcoming film adaptation by Sony, which was initially anticipated, now faces questions about its potential success amidst waning interest in the character. Without renewed excitement, the long-term outlook for both Labubu and Pop Mart may be bleak.