Life After Labubu? Pop Mart Struggles for Relevance as its Toy Sales Plummet

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Pop Mart International will once again send a giant float down Sixth Avenue later this month for the Macy’s Thanksgiving Day Parade in New York City, but the company feels rather less buoyant than it did when it debuted at the event last year, according to a report published by the South China Morning Post. The Chinese toymaker’s global ascent has stalled badly as the hype surrounding its Labubu dolls fades.