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Pop Mart’s stock has plunged nearly 44% in four months, losing over HK$200 billion (≈$25.7 billion USD) in market cap as Deutsche Bank warns aggressive Labubu production may kill the brand’s scarcity appeal.
Leading toymakers Pop Mart and Miniso stock prices plummeted after state-run media Xinhua commented that regulators should further steer the blind boxes industry away from unbalanced development.
Chinese toy manufacturer Pop Mart has admitted to selling repackaged items at one of their outlets in Shandong, east China, following a customer complaint.