Pop Mart First-Half 2026 Gross Margin Slips to 69.7% on LABUBU Cooling and Store Costs
Pop Mart reported a gross margin of 69.7% for the first half of 2026, down slightly from 70.3% in the same period of 2025. The company attributed the decline to weaker overseas demand for its LABUBU products and higher costs related to preparing new stores. In response, Pop Mart said it will optimize its supply chain and global logistics, strengthen cost control, and improve per-store operating efficiency to mitigate the impact of the margin change.
Pop Mart's gross margin for the first half of 2026 stood at 69.7%, a slight decline from 70.3% in the same period of 2025.
In response, the company said it will strengthen cost control by optimizing its supply chain and global logistics network, while focusing on improving per-store operating efficiency to address the impact of the gross margin change.