POP MART's New IPs Underwhelm, Classic IP Plush Sales Soar in Year of the Horse

POP MART's new IPs received lukewarm responses, causing its stock to fall. In contrast, the 'Full Power' plush blind box series featuring classic IPs like SKULLPANDA and LABUBU sold over 100,000 units, while the 'Gold Rush Gallop' figure series sold over 10,000 units. AI-generated

Why it matters：Analyzes POP MART's performance in the Year of the Horse, contrasting weak new IPs with strong sales of classic IP re-releases.

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