30 to 36 million dollars of funkos they are about to end up in a landfill because holding excess inventory is costing the company too much. Funko Pop collectibles have made a name for themselves around the world and they don’t exactly come cheap, so imagine all those fun gaming Funkos being sent to death!
How many Funkos is too many Funkos?
As seen by Kotaku, Funko said in a press release that its year-end inventory as of December 31, 2022 was $246.4 million, a 48% year-over-year increase. ‘other.
“This includes inventory that the company intends to phase out in the first half of 2023 to reduce compliance costs by managing inventory levels to align with our fulfillment center operational capacity,” reads -on in a note to investors. Basically, Funko will pay between $30 million and $36 million in the first half of 2023 unless someone steps in.
According to ICv2, Funko CEO Brian Mariotti told investors on a recent earnings call that the company’s new warehouse in Arizona is full of inventory and the cost of renting the shipping containers that hold the stock make Funko lose money.
All we need to know is where this dump is so we can collect the toys and collectibles!