Source: CNBC
Part of: Struggling brands fade or sell off →
Pop Mart's stock decline reflects how fast social-media-driven consumer cycles move. A toy that powered Chinese soft power ambitions across Paris, Milan, and New York in 2024 has lost momentum in less than two years: Americas sales are down 70% and influencer engagement has dropped sharply. The company's pivot to Netflix collaborations suggests it is chasing cultural relevance through IP licensing instead of building organic collectibility. Virality-dependent business models lack durable competitive advantage once algorithm-driven demand fades.