It was announced this week that Funko have entered into an agreement to acquire Loungefly, which is a contemporary fashion accessories company that designs and sells a wide selection of unique handbags, and fashion accessories under licensed brands that include Disney, Marvel, Star Wars, Sanrio, and Pokémon. Loungefly products are sold through specialty stores, boutiques and department stores nation-wide.
“We have long admired Loungefly and the company’s unique and differentiated collection of accessories and are excited to welcome them to the Funko family,” said Brian Mariotti, CEO of Funko. “As we continue to extend our business into new and existing categories, this transaction provides us with key capabilities in the accessory and handbag category. We see tremendous opportunities to combine their creative design process with our speed-to-market capabilities, expanded distribution channels, and broad license portfolio to deliver accessories to our loyal fans featuring their favorite pop culture icons and characters.”
Trevor Schultz, founder of Loungefly commented, “As a leader in pop culture consumer products, Funko is the ideal partner for Loungefly’s portfolio of licensed and branded lifestyle accessories. We look forward to working with the innovative Funko team to extend our unique product offering into new channels of distribution and licenses.”
This continues the expansion of Funko into products outside of its core vinyl lines, plus they can spread their Pop designs over to new lines of fashion products and also have a different revenue source of alternative products. There have been some great Disney designed fashion lines from Loungefly and I’m sure we will see much more from them.
What do you think of this news?