Funko to send figurines worth $30 million to landfill –

funkoThe company best known worldwide for its line of Funko Pop figures, send to dough items not sold at value 30 million dollarstrying to solve the problem of excess inventory.

According to news from Kotaku, Funko reported the matter at a recent conference with shareholders, explaining that the amount of unsold items in stock is so large that the most economically viable option is to throw everything in a landfill.

“Year-end inventory was $246.4 million, up 48% from a year ago,” Funko said. “This includes inventory that the company plans to eliminate in the first half of 2023 to reduce costs by managing inventory levels to align with the operational capacity of distribution centers,” the statement said.

CEO Brian Mariotti said at the conference that a distribution center was so full that he had to rent shipping containers to handle excess inventory. Apparently, the exponential growth of Funko Pops and other devices manufactured by the company has led to unmanageable overproduction for the company, and the company now finds itself having to throw away millions of dollars of unsold merchandise.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *