Pop Mart Bets on New Toys as Labubu Mania Fades

Pop Mart International Group Ltd.’s shelves remain packed, but shoppers are no longer fixated solely on the snaggle-toothed Labubu dolls that once sparked hours-long lines and resale frenzies.

Characters such as Twinkle Twinkle, Skullpanda and Crybaby are drawing crowds of their own, commanding premiums on resale platforms and climbing the company’s sales rankings.