Labubu hype seemed unstoppable, now the fluffy monster mania is dying
Summary
Labubu dolls, once a global hit for Chinese toy company Pop Mart, have lost some of their online buzz and sales momentum. Analysts say wider availability may have weakened the sense of scarcity that helped drive demand, while collectors and shoppers are turning to other toys.Key Facts
- Pop Mart reported that global sales in the three months through September fell by as much as 50% from a year earlier.
- U.S. revenue fell by at least 70% over the same period.
- Collector Ensito says his Labubu videos now attract fewer views, and he has shifted some attention to other collectibles.
- Ensito says he has spent more than $50,000 on a collection of over 400 Labubu dolls.
- Pop Mart increased production to meet demand, which analysts say may have reduced the dolls’ sense of exclusivity.
- Pop Mart has 500 shops in more than 30 countries and 2,000 vending machines worldwide.
- Pop Mart’s shares have fallen by more than 50% from last year’s peak, though the company remains valued at nearly $24 billion.
- Other collectibles, including Sonny Angels and Smiski figurines, have gained popularity as Labubu interest cools.
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