Okay you guys I never liked these things and neither did you, so I guess we can agree that this is the proper move by Funko here:
Funko, the toy and collectible manufacturer best known for its Funko Pop Vinyls line, is sending at least $30 million worth of its products to a landfill.
As reported by Kotaku, Funko revealed during an earnings call that it has so much idle stock sitting in warehouses that, financially, its best option is to throw $30 to $36 million worth in the garbage.
"Inventory at year-end totalled $246.4 million, an increase of 48% compared to a year ago," Funko said "This includes inventory that the Company intends to eliminate in the first half of 2023 to reduce fulfilment costs by managing inventory levels to align with the operating capacity of our distribution centre. This is expected to result in a write down in the first half of 2023 of approximately $30 to $36 million."
Look, I know I said I never liked the dumb things, cuz, you know, it's kinda my job to kid around here. However, I'm scratching my noggin trying to figure out why the company didn't just donate these toys to kids in need. I know for a fact that plenty of kids still like them.
I mean sure, said kids would likely get merely a few hours of playtime with these things before getting bored with them and sending them off to a landfill themselves via the kitchen trash can — but I think it'd be worth it!
More on the story:
Well, I guess now we'll just wait for the next dull kids toy to drop so we can do this all over again. 🤷♂️