$30M of Funko Pop! toys to be thrown in the trash

EVERETT, Washington — Thirty million dollars worth of Funko Pop! figures — those big-headed, vinyl, pop-culture dolls — will soon make their way into the hands of a new collector: The garbage collector.that a combination of waning demand for the toys and a surplus of inventory is creating financial trouble for the company. Last year, they had to rent excess warehouse space just to hold the buildup of Funko figures, which range from Baby Yoda to Eddie Van Halen.

The company intends to "eliminate" a bit of that nearly $250 million in inventory in the first half of 2023 "to reduce fulfillment costs by managing inventory levels to align with the operating capacity of our distribution center," Funko said. "This is expected to result in a write down in the first half of 2023 of approximately $30 to $36 million."

On a call with investors last week, CEO Brian Mariotti said Funko had already filled its Arizona distributing center to the brim with dolls and was forced to rent excess storage containers for them. The cost of that extra storage, he said, was causing the company to lose money at a rapid clip. Funko benefited during the pandemic boom, posting $1 billion in net sales for 2021 — a 58% increase from 2020 — but those gains didn't hold up as the global economy reopened.

Maybe they could donate to children’s charity or something. Send to orphanages in 3rd world countries.

Fads don’t last. Reminds me of Beanie Babies.

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