Despite the latest pullback, many are holding on to their bullish calls for Pop Mart to remain one of the hottest consumer brands in China this year.

The company currently operates over 2,000 locations globally, including more than 40 stores in the United States, a market where Labubu sales surged by 5,000% in June.

Chinese toymaker Pop Mart International Group Ltd. expects the soaring global popularity of its Labubu plush toys to drive a threefold increase in first-half revenue and an even bigger boost to