Pop Mart International’s US sales fell 45% year-on-year in March, reversing
earlier gains, according to Bloomberg Second Measure data, highlighting pressure
on its overseas expansion. The decline follows stronger promotions in January
and February and may partly reflect timing effects, though it also संकेत
weakening demand. Analyst Melinda Hu of Sanford C Bernstein said sustained
growth will require new scalable IP beyond Labubu and improved localization,
forecasting 2026 revenue growth of 16%, below company guidance of at least 20%.
