Funko has generated record-setting sales in the first half of 2022, the strongest in the Washington-based company’s 25-year history.
Fashion accessories helped boost overall net sales by 33% to US$315.7 million this quarter, compared to the same period last year. Funko’s Loungefly business, which encompasses licensed Disney, Nickelodeon, DC Comics and Pokémon products, posted unprecedented Q2 sales, jumping 114% to US$69.9 million. The company acquired California-based Loungefly in 2017.
Funko’s core collectible brands category climbed 23% to US$233 million, while its “other brands” segment grew by 11.6% to US$12.7 million.
In the US, the company had a 41.7% net sales increase to US$231 million, with a 21.8% bump in Europe to US$63 million. Net sales in other international territories collectively grew by 1.2% to US$21 million.
The company now predicts it will generate total net sales of US$1.3 billion (an estimated 26% increase) for the full year.
Funko has been quite active on the new business front recently, acquiring retailer Mondo in June, inking a deal with Britain’s 10:10 Games to co-produce its first video game in July, and hiring Michael Hyde (a former Mattel and The Character Group staffer) to expand its business in Asia earlier this week.