Funko sees pop culture demand grow as Q1 18 underline 39% net sales increase

In its first quarter earning for the year, the firm has seen net sales increase 38.5 per cent to $137.2 million, a surge it has achieved despite the liquidation of major toy retailer, Toys R Us.
Author:
Publish date:
Social count:
18
0 funko shorts.jpg

Pop culture specialist, Funko is seeing growing demand for products such a Pop! Vinyl figures at a time it has recognised as ‘tough for traditional toy companies and retailers.’

In its first quarter earning for the year, the firm has seen net sales increase 38.5 per cent to $137.2 million, a surge it has achieved despite the liquidation of major toy retailer, Toys R Us.

Funko CEO Brian Mariotti has put the success down to the Funko business model, one that does not ‘rely on hits’ but rather through a ‘balanced mix of evergreen back catalogues and new content across movies, TV, video games, music and sports.’

The pop culture specialist has reported a gross margin increase of 210 basis points to 37.4 per cent, of that $1.8 million in costs are related to Toys R Us shipments.

The recent results have left Funko feeling very confident about its future within the toy and collectables space. They also coincide with the recent reported growth of the kidult market, one that has grown 13 per cent in the UK alone over the last year.

“We had another great quarter and continued to deliver strong growth and consistent results across the business,” said Brian Mariotti, chief executive officer, Funko.

“Sales in the first quarter increased 39 per cent to $137 million with strong demand across the board. At a time when traditional toy companies and retailers are struggling, we believe our continued strong and consistent results are a testament to our differentiated business and operating model.

“Our business is not hit driven, but rather, a balanced mix of evergreen back catalogue content and newly released content across movies, television, video games, music and sports.

“With the globalisation of content and the worldwide recognition of our products and Pop! brand, we are seeing growing demand for our products around the globe and could not be more excited about our future.”

Related

Featured Jobs

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.

Melissa and Doug Job Logo 620 x 349

Operations Planner

Imagine working for a company with a mission you can truly believe in, a playful and energetic culture, a talented team and a bright future! Melissa & Doug, the toy company committed to nurturing childhood wonder, is looking for an Operations Planner to coordinate the demand planning and supply between European markets and the US.

Gameplan Job Logo 620 x 349

Head of Product Development & Marketing

Our client is a privately owned French toy and games manufacturer which sells through distributors in forty countries. The company develops and sells innovative electronic interactive toys and games for the educational and gaming markets, and also takes suitable licenses. To progress its successful business development a Head of Product Development & Marketing is to to recruited.

HIT Entertainment Job Logo 620 x 349

Licensing Systems Administrator

The Contract System Coordinator is a newly created role to support the deal term entry process into Mattel’s new Contract Management System for its Licensing business. The role will support the Business Teams at the Deal & Amendment phase of the contracting process and act in conjunction with the System Administration team.