In a not-so environmentally friendly move, Funko Pop is chucking an estimated $30 to $36 million of unsold stock into a landfill. The company claims that storing the excess inventory is costing it a fortune, thus it’s willing to write the figurines off and funnel them into the ground, where they’ll remain until the end of time.
“Inventory at year-end totalled $246.4 million, an increase of 48% compared to a year ago,” a press release spotted by Kotaku reveals. “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.”
In other words, Funko Pop warehouses are absolutely stuffed to the gills with five-inch plastic figurines of vaguely recognisable cultural icons – and something’s got to give. The toys enjoyed a mini boom during the pandemic, but sales have since slowed, causing the company to cut its forecasts and slash its workforce. Unsurprisingly, share prices are way down.
We’ve nothing against collectibles per se, but we’d say it’s a strong indictment of humanity’s hubris that we’re ultimately going to ruin our planet by stuffing thousands of unsold of chibi Machine Gun Kellys into the ground.