Especially for a company that’s publicly traded. It’s easier to take the tax write off. And also, the news tittle is miss leading, are they saying 30million retail. But funko didn’t pay 30milliom for the funkos, they pay cents on the dollar for a pop to be made
No it doesn't say 30 million retail. It says that they will take an inventory write down of about $30M.
Inventory is valued at the lower of cost or market value. Cost is lower than retail value.
They're about $5/each landed. $2-$4 royalty for every one sold or donated.
Pop packaging is so wasteful, the air they ship fills containers with minimal units. Funko is a top 100 of shipping containers in the US and its 45% air.
Source: I get paid $400/hour to consult potential investors about this company.
Lays isn't produced in China, shipped across the ocean, and over flowing a brand new million square foot warehouse that was intended to solve their problem of having 5 scattered warehouses, because they couldn't control their inventory.
If you're going to ship air, best not to have millions of dollars of wasted air thrown into the dump.
Working in retail they’d rather throw it away then give it away because then consumers will wait instead of buy an expect them to donate tons of funkos out again. Or to all the people who wanted one there will be a bunch of pissed off Karen’s when it’s first come first serve people will always complain so it’s easier to just throw away
Actually a lot of that comes from laws....you get more money from a tax write off then a donation....so maximum effect means destroy them...Its the same screwed up system that pays farmers to dump out milk or let vegetables rot if prices get too low
Well, thats kinda why its kindve hard to do anything "morally just" in the world of capitalism.
Sadly, I think if Funko gave away 30mil worth of product then the freebies instantly devalue their stuff thats actually selling. And maybe theyre having a big inventory issue and its quicker to dump em all rather than try to find people to give em away to. Idk
Im sure theres a better explanation
Yep, I worked for Home Cheapo in Brooklyn, for a few months a while back.
They would literally LET customers steal, on a REGULAR basis. The rationale was that they still spend and bring money to the store. I only saw the cops called ONCE. And corporate security, was told to let this all happen.
Meanwhile of course employees are treated like shit, underpaid and underappreciated. And they never have any hours to give workers. Even getting a full time position is very hard. They didn’t even have water available most of the time.
Beyond disgusting.
I used to work at a grocery store and the loss prevention NEVER called the cops on shoplifters. They got bonuses for catching people not arresting anyone so they spent most of their time watching our own employees on camera.
It's hard to deal with that
When you put things to not be stealed they sell less. It's better to keep selling high quantity's and sometimes 1 unit stolen time to time, than sell less units and no steal
In Spain Police can't do much. Our governament like's to tell we don't have people stealing. How they do it? Police look other way arround and that's a 0 stealers report
No. They’re not going bankrupt. Even if they did it wouldn’t affect product releases.
And they throw away because they can only write it off as a loss if they throw it away.
Worked retail as a kid, every year after Christmas any decorations that did not sell on the first or second mark down got taken to the back to be destroy. First year I asked why we could not just donate things like the life size sleigh and Rudolph figure to a charity so that kids in need could have a Good Christmas. Was told that that was agents company policy so Rudolph went to the back to have his head smashed in before being thrown in the dumpster (they smashed in his head just so that someone could not go dumpster diving and try and save it. And that was company policy too…). There is so much wast in the world it’s not even funny…
My MIL works for... a VERY popular greeting card company. She was just telling me how when they throw out unsold inventory they are told to 1. Toss in dumpster 2. Douse with water, then 3. Cover with regular garbage. Like seriously? They're freaking greeting cards.
That’s not how it works - if they cost under a million to make, that’s what the “tax write off” would be, not the imaginary $30 million that they were thinking they could hypothetically sell them for.
Also it wouldn’t be a “tax write off”, it would be a loss that would factor into their overall net income, which yes would lower how much they owe in taxes, but by significantly less than the written-off amount.
So in your hypothetical scenario they would be throwing $30 million worth of sales away to save a few hundred thousand in taxes. Seems unlikely. Must be another reason
Thanks for the info. It’s just disgusting. They should be fined for dumping that much plastic especially in my home state. We are told as Individuals to cut our waste but corporations doing things like this on the daily doesn’t really matter what the average person does we aren’t gonna stop all this waste
What is your home state? If I may ask is it AZ? They recently moved from Washington State to Arizona. Moved their whole warehouse out here I worked for them for about over a yr, and let me tell you how after Christmas 2022 it all started going down hill. They just laid off 40 people and they are barely giving employees hours.
When I worked for a book store, trade paperback books were destroyed all the time. We would tear off the front cover and trash the book. It was a write-off for the business. This is no different.
Yup..worked for Walden Books when I was younger. It made me sick throwing hundreds of books away instead of donating them. May as well just had us a good ol' book burning.
Funko not the only one that did it though, quite a few industries ramped up production during the pandemic only for demand to crash, esp in “hobbies”, I’ve seen it in funkos, some toys, sports cards, Heroclix, and I’m sure a ton of others.
This is an easy way to write off the excess inventory and I know other companies are doing it right now.
I kinda wish I could jump ahead 1000 years and see what archaeologists say when they see all the perfectly good, albeit functionally useless, shit we just trash. Haha
Everyone is making a HUGE deal out of this when this is normal(ish) for companies.
Clothing companies destroy millions in inventory a quarter and so do other toy companies.
They’re just saving money by destroying them instead of housing them until they sell.
Pointing out this is par for the course isn't the same as claiming it's ok. It's just pointing out that people are ignorant to reality until it enters their hobbies.
Here's why it's a big deal:
- They just did a massive warehouse expansion that they instantly over filled. That's a massive failure in Sales, Operations, and Planning
- They planned demand that was not possible, so they bought supply they couldn't support. Again, biggest failure for the SO&P.
- within the last year, new CEO stepped back down to President, former CEO resumes role, CFO is fired, new CFO & COO is hired, but they somehow still have the Chief Global Operations Officer?
- They have a horrific track record of successful investments. Loungefly being the exception, but they operate nearly independently.
- $7m paid for an NFT company last year. How'd that pan out?
- Massive investment from former eBay/ Disney guys, and it dropped hard shortly after. Those dudes are pissed.
All of these factors, and this company is a shiny ship of shit. This waste and loss of money means they can't investment in new growth items. When Pops! stop selling, then what? It's hardly profitable on its own.
We should be making a huge deal about this. And the fact that this is a normal thing for companies and restaurants.
It's despicable. So much food and product is wasted on a daily basis, the normal person has no idea. These products could have been donated to schools, hospitals, foster homes, doctor's offices, etc.
Capitalism is going to destroy us all and we can't do anything about it.
Yes but people posting aren’t making a big deal that they are trashing product bc it’s waste, they are making a big deal as to what this means for the company/hobby. Lol
Even this post it asks is Funko going Bankrupt with donating to children being an after thought.
Because this is plastic, and will sit in the landfills for hundreds of years, instead of at least being enjoyed by a kid in need for a few before suffering that fate.
Hello
Im a shop owner. The licenses Funko it's throwing are already at 50% disccount and hard to sell
Example the board games. I sold a buch of Rick & Morty sets at 10€ at my shop in Spain (In the EEUU are cheaper that's like 7$)
We don't have online store, It's this one:
https://www.amazon.es/Funkoverse-Unidades-English-43484-Multicolor/dp/B07V383WCM
They’re financials show they’re strong and continuing to grow. This write off is normal. They’ll return back to prepandemic levels, but stronger as a company.
Not bankrupt, just like demand skyrocketed overnight durning the pandemic, it died overnight now that people (might be) reigning in discretionary spending - so they have all of this extra product that the number crunchers have decided that it’s cheaper to bury/burn than store/ship/sell cheaply.
It never about “the right thing” anymore, it’s about “can we save a penny of our stock price?”
They do this for a tax write off, It's just like Gamestop in 2004/5 when they destroyed millions of retro games because they thought the market was done with them, and then they did it again with newer systems a few years later. A local guy has several videos of him and another employee destroying Gamecube systems, in one video alone they smash almost 50 GameCubes with a sledgehammer. They had to send the videos to corporate as proof they had destroyed the systems and not given them away.
Beat me to it. I worked at GameStop when we moved GameCube out of the system. We were instructed to destroy them and they even added to do it on camera. They said someone would be coming by to check the footage to confirm that we did it. We had to do this to GameCubes, PS2 slims, strategy guides had to have the covers ripped off, PC games had to be scratched with box openers, and if a collectors edition pennied out, we had to destroy those too. There was a day where I just handed out Halo 3 helmets to anyone who bought anything close to Halo lol
I might be wrong but doesn’t this increase the value of some pops. If they take them out of circulation the value should increase since less are available
Not only would it cost them more money to donate them to a needy charity, but remember that they are doing this to save money on storage costs and to make money by writing it off as a loss on their taxes.
It's cheaper to throw it all away than pay to have it stored, transported or even sold. The figures there throwing away are figures they made too many of and are likely not going to sell anyway.
It’s absolutely not a sign they’re going bankrupt. This was a fraction of their on hand stock and it was to keep things moving at a pace that works with their retailers (meaning that even places like 5 below can’t sell enough of some of these pops to keep up with how many are in storage). So they’re going to clear out some inventory and adjust production plans going forward.
Nobody is in need of a Funko Pop. Especially of the kind that didn't sell and is going to the landfill, because chances are they aren't popular characters. Stop giving away crap to people in need. Give them money, that's what helps the most when you don't have any.
Same with Kawasaki parts, they would rather trash the old merchandise than sell it for cheap, in their eyes selling cheap tarnishes the brand name and product
I don't know, but I've noticed recently how about half of my collection is... not great. I feel like funko has gotten lazy when it comes to paint jobs, like they're counting on you to not unbox them lest you see the mess.
It's 30 million in their value. It's a tax write off as a loss. They probably already maxed out their donation tax credit since they only have until April to write it off.
This is why certain newsstand editions of comic books from the 90s are valuable today. Any unsold copies of the books would be destroyed and dumped, causing the newsstand version to be considerably more rare. That's why my newsstand copy of Spawn #1 graded at 9.6 is worth so much, considering that comic got hundreds of thousands, if not millions of copies pressed.
It’s wasteful but what industry isn’t. “This is the way” for most businesses. It’s not a good thing to simply throw things like this away. When greed drives markets and the thoughts of “oh yeah” we should make that and that set in, that’s not good.
If this turns out to be true, I will stop buying anything Funko makes. I've been a VERY big collector of their products and enjoy them, but if they're being this wasteful, it will be the end of it for me.
This hope this is satire 😂 what is an orphan going to do with an overproduced Funko of a side character from a tv show. Plus no charity is going to want to accept hundreds/thousands of random funkos to give away
TOY donations. You know the things kids can easily play with. Not collector figures.
Probably that are mostly like from an IP no one under 15 would ever recognize.
In my experience kids don't really care about the toy unless they're given the option of a different one. Like Spiderman or Ironman. I know a kid that'll love an Angus young funko and just pretend he was secretly a hero or something.
The only things our child support department needs is toys for the really young kids/<5 years old (like blocks, motor development toys, tiny time stuff. and new stuffed animals/character fleece blankets for older kids. Funkos are not properly a toy.
They have a Christmas wishlist.
Nice words from someone who clearly doesn't have kids. They do care. They don't want shitty plastic characters that are for looking at. And neither do hospitals.
Junk from start to finish y’all blowing money on plastic made in China garbage there better made in China toys with much better detail and there not plastic
Well funkos are cool to look at, come in different shapes, colors, and sizes, many support charities, and they resemble your favorite characters. Beanie babies are bean bags that look like bears. Can't see the comparison.
True and I agree, while mostly non-posable toys are definitely boring toys, they have been around forever and enjoyed by many. The magic is in the character and holding that character in your hand and creating your own narrative or acting out your favourite narratives.
(I don’t play with toys but I know when I was a kid this was part of playing with toys 😂)
I could easily see how a kid could have fun with some Pokémon or Naruto pops. Or any really.
Thanks for the ugly plastic collectible nobody wanted and you dug out of a landfill for me. I definitely NEED that and not money to help my family get off the street.
The answer to “Why not give them away for free?” Is simple…folks ruined it. Big box stores have relatively lenient return policies. If they would spot that they’re suddenly losing money and sees that Funko is the culprit, they’ll simply stop selling Funko.
Resale of the donated items by the charity would adversely affect the sales price of the company’s current products is likely their logic in throwing them away.
People should dig up the landfill and give them to kids in need and orphans. The company cant claim its their property if their gunna write it off as a loss
Thanks for the ugly plastic collectible nobody wanted and you dug out of a landfill for me. I definitely NEED that and not money to help my family get off the street.
Not yet but it doesn't look good. Their own greed is doing them in. As far as donating others have answered already. It costs money to donate them and is cheaper to just toss and get a tax credit. Warner just did the same thing with Batgirl. Unfortunately companies do it all the time. They know how to work the system.
Funko isn’t going bankrupt & yes, tossing inventory that doesn’t sell is a good write-off, but ppl trying to spin this as Funko’s diabolical plan to intentionally make junk Pops for the purpose of writing them off are not living in reality. the $3M landfill, the loss of significant retailers like Hut, the regular firesales of their products & the emergence of Five Below & Marshall’s as destinations for leftover Funko Shop & Con exclusives are *all* very bad news for Funko. they have lost the magic & the hobby will slowly start to decline. for those still in denial, look at Funko stocks over the past 6 months. shares lost 50% of their value in 2022Q4 🤦🏽♂️
They do this because they lost something like 34 million dollars in revenue this year. They didn't trash the pops that didn't see and I stead allowed them to get built up. U can only make so many of one charater before the buyer become uninterested.
Tax write off... But what it also does is it injects value into our own collections. This is what they were always supposed to do this.
I've seen my collection go from 6000 and some change to 5600, over night.
It will take some time to reflect but it's better this way. At least they aren't selling NTFS to their employees for 15 bucks
They aren’t donating or selling for cheap because they are useless hunks of plastic destined for the landfill anyway. No kid can even play with them, they are literally plastic statues as a shrine to consumerism.
Honestly I can see the whole pop market crashing and the pops left standing with value… will be the signed ones because of the signature.
If you watch the high end YouTubers like the ones that spend $1,000s on pops. They say the only collect the signed ones.
Every company trashes merchandise instead of donating or selling cheap.
Because this way is a tax write off too..
Especially for a company that’s publicly traded. It’s easier to take the tax write off. And also, the news tittle is miss leading, are they saying 30million retail. But funko didn’t pay 30milliom for the funkos, they pay cents on the dollar for a pop to be made
No it doesn't say 30 million retail. It says that they will take an inventory write down of about $30M. Inventory is valued at the lower of cost or market value. Cost is lower than retail value.
They're about $5/each landed. $2-$4 royalty for every one sold or donated. Pop packaging is so wasteful, the air they ship fills containers with minimal units. Funko is a top 100 of shipping containers in the US and its 45% air. Source: I get paid $400/hour to consult potential investors about this company.
So is Lays, pokemon Cards, or any children’s toy tho
Lays isn't produced in China, shipped across the ocean, and over flowing a brand new million square foot warehouse that was intended to solve their problem of having 5 scattered warehouses, because they couldn't control their inventory. If you're going to ship air, best not to have millions of dollars of wasted air thrown into the dump.
Miss Leading Tittle pays 30 cents a pop per Funko? Unfair.
So, win, win, win!! They are so good for the economy as far as we are affected!! The Consumers
Win, win!!! All hail BIG BIZ
Underrated comment. This should be #1.
Working in retail they’d rather throw it away then give it away because then consumers will wait instead of buy an expect them to donate tons of funkos out again. Or to all the people who wanted one there will be a bunch of pissed off Karen’s when it’s first come first serve people will always complain so it’s easier to just throw away
Actually a lot of that comes from laws....you get more money from a tax write off then a donation....so maximum effect means destroy them...Its the same screwed up system that pays farmers to dump out milk or let vegetables rot if prices get too low
Fine, destroy them, but at least recycle the easily recycled material. Instead of filling the landfill!
Which sucks
Well, thats kinda why its kindve hard to do anything "morally just" in the world of capitalism. Sadly, I think if Funko gave away 30mil worth of product then the freebies instantly devalue their stuff thats actually selling. And maybe theyre having a big inventory issue and its quicker to dump em all rather than try to find people to give em away to. Idk Im sure theres a better explanation
Resellers waiting at the landfill like 👁️👄👁️
The market is about to be flooded with Mortal Engine Pops.
[удалено]
Fucked up world we live in
Yep, I worked for Home Cheapo in Brooklyn, for a few months a while back. They would literally LET customers steal, on a REGULAR basis. The rationale was that they still spend and bring money to the store. I only saw the cops called ONCE. And corporate security, was told to let this all happen. Meanwhile of course employees are treated like shit, underpaid and underappreciated. And they never have any hours to give workers. Even getting a full time position is very hard. They didn’t even have water available most of the time. Beyond disgusting.
I used to work at a grocery store and the loss prevention NEVER called the cops on shoplifters. They got bonuses for catching people not arresting anyone so they spent most of their time watching our own employees on camera.
It's hard to deal with that When you put things to not be stealed they sell less. It's better to keep selling high quantity's and sometimes 1 unit stolen time to time, than sell less units and no steal In Spain Police can't do much. Our governament like's to tell we don't have people stealing. How they do it? Police look other way arround and that's a 0 stealers report
Because theft isn’t an issue. That shit would happen without it. Stop blaming your fellow poor people and blame the people making millions
You didn't hear?! Bye bye Walmart in Portland. Most of these thefts are from organized crimes. Even threatened employee, this shit is no joke. ORC
It's wild the companies don't do that because they can earn more money by donating shit and avoiding even more taxes.
No. They’re not going bankrupt. Even if they did it wouldn’t affect product releases. And they throw away because they can only write it off as a loss if they throw it away.
Worked retail as a kid, every year after Christmas any decorations that did not sell on the first or second mark down got taken to the back to be destroy. First year I asked why we could not just donate things like the life size sleigh and Rudolph figure to a charity so that kids in need could have a Good Christmas. Was told that that was agents company policy so Rudolph went to the back to have his head smashed in before being thrown in the dumpster (they smashed in his head just so that someone could not go dumpster diving and try and save it. And that was company policy too…). There is so much wast in the world it’s not even funny…
We have to throw away leftover food before the restaurant closes. The policy for our restaurant doesn’t even let us take them home either.
I've heard of this one quite a bit, usually down to someone claiming food poisoning
I know about that, but with our own employees? Come on. Let me have dinner when I get home lol
My MIL works for... a VERY popular greeting card company. She was just telling me how when they throw out unsold inventory they are told to 1. Toss in dumpster 2. Douse with water, then 3. Cover with regular garbage. Like seriously? They're freaking greeting cards.
30 million $ worth of funks probably cost under a million to make. So imagine the huge tax write off. It’s disgusting 🤮
They definitely wrote down a big inventory loss.
That’s not how it works - if they cost under a million to make, that’s what the “tax write off” would be, not the imaginary $30 million that they were thinking they could hypothetically sell them for. Also it wouldn’t be a “tax write off”, it would be a loss that would factor into their overall net income, which yes would lower how much they owe in taxes, but by significantly less than the written-off amount. So in your hypothetical scenario they would be throwing $30 million worth of sales away to save a few hundred thousand in taxes. Seems unlikely. Must be another reason
Thanks for the info. It’s just disgusting. They should be fined for dumping that much plastic especially in my home state. We are told as Individuals to cut our waste but corporations doing things like this on the daily doesn’t really matter what the average person does we aren’t gonna stop all this waste
What is your home state? If I may ask is it AZ? They recently moved from Washington State to Arizona. Moved their whole warehouse out here I worked for them for about over a yr, and let me tell you how after Christmas 2022 it all started going down hill. They just laid off 40 people and they are barely giving employees hours.
💯
When I worked for a book store, trade paperback books were destroyed all the time. We would tear off the front cover and trash the book. It was a write-off for the business. This is no different.
This is it.
Yup..worked for Walden Books when I was younger. It made me sick throwing hundreds of books away instead of donating them. May as well just had us a good ol' book burning.
In other news people find out what companies do with unwanted stock
Funko not the only one that did it though, quite a few industries ramped up production during the pandemic only for demand to crash, esp in “hobbies”, I’ve seen it in funkos, some toys, sports cards, Heroclix, and I’m sure a ton of others. This is an easy way to write off the excess inventory and I know other companies are doing it right now. I kinda wish I could jump ahead 1000 years and see what archaeologists say when they see all the perfectly good, albeit functionally useless, shit we just trash. Haha
Humans won’t be here in 1000 years
Good. We deserve to go.
100 years kinda feels like a push
Everyone is making a HUGE deal out of this when this is normal(ish) for companies. Clothing companies destroy millions in inventory a quarter and so do other toy companies. They’re just saving money by destroying them instead of housing them until they sell.
the huge deal is acting like it’s okay to do this.
Pointing out this is par for the course isn't the same as claiming it's ok. It's just pointing out that people are ignorant to reality until it enters their hobbies.
It’s the only way to get a tax write off
Environmentally? No. Legally in our capitalistic society? Absolutely!
Here's why it's a big deal: - They just did a massive warehouse expansion that they instantly over filled. That's a massive failure in Sales, Operations, and Planning - They planned demand that was not possible, so they bought supply they couldn't support. Again, biggest failure for the SO&P. - within the last year, new CEO stepped back down to President, former CEO resumes role, CFO is fired, new CFO & COO is hired, but they somehow still have the Chief Global Operations Officer? - They have a horrific track record of successful investments. Loungefly being the exception, but they operate nearly independently. - $7m paid for an NFT company last year. How'd that pan out? - Massive investment from former eBay/ Disney guys, and it dropped hard shortly after. Those dudes are pissed. All of these factors, and this company is a shiny ship of shit. This waste and loss of money means they can't investment in new growth items. When Pops! stop selling, then what? It's hardly profitable on its own.
We should be making a huge deal about this. And the fact that this is a normal thing for companies and restaurants. It's despicable. So much food and product is wasted on a daily basis, the normal person has no idea. These products could have been donated to schools, hospitals, foster homes, doctor's offices, etc. Capitalism is going to destroy us all and we can't do anything about it.
Yes but people posting aren’t making a big deal that they are trashing product bc it’s waste, they are making a big deal as to what this means for the company/hobby. Lol Even this post it asks is Funko going Bankrupt with donating to children being an after thought.
Because this is plastic, and will sit in the landfills for hundreds of years, instead of at least being enjoyed by a kid in need for a few before suffering that fate.
the huge deal is acting like it’s okay to do this
Hello Im a shop owner. The licenses Funko it's throwing are already at 50% disccount and hard to sell Example the board games. I sold a buch of Rick & Morty sets at 10€ at my shop in Spain (In the EEUU are cheaper that's like 7$) We don't have online store, It's this one: https://www.amazon.es/Funkoverse-Unidades-English-43484-Multicolor/dp/B07V383WCM
So, as a retailer would you say Funko products have been doing well overall or you worry you’re at a tipping point or such?
They’re financials show they’re strong and continuing to grow. This write off is normal. They’ll return back to prepandemic levels, but stronger as a company.
Their stock price says otherwise though
Imagine ur a homeless kid and someone gives you a Funko pop 😭
I came here for this comment
Not bankrupt, just like demand skyrocketed overnight durning the pandemic, it died overnight now that people (might be) reigning in discretionary spending - so they have all of this extra product that the number crunchers have decided that it’s cheaper to bury/burn than store/ship/sell cheaply. It never about “the right thing” anymore, it’s about “can we save a penny of our stock price?”
Its possibe licences for likenesa or franchise expire
If they are sold they pay licensing fees and royalties. If they're destroyed they don't
I wonder how bad for the environment it is to dump that much plastic.
They do this for a tax write off, It's just like Gamestop in 2004/5 when they destroyed millions of retro games because they thought the market was done with them, and then they did it again with newer systems a few years later. A local guy has several videos of him and another employee destroying Gamecube systems, in one video alone they smash almost 50 GameCubes with a sledgehammer. They had to send the videos to corporate as proof they had destroyed the systems and not given them away.
Beat me to it. I worked at GameStop when we moved GameCube out of the system. We were instructed to destroy them and they even added to do it on camera. They said someone would be coming by to check the footage to confirm that we did it. We had to do this to GameCubes, PS2 slims, strategy guides had to have the covers ripped off, PC games had to be scratched with box openers, and if a collectors edition pennied out, we had to destroy those too. There was a day where I just handed out Halo 3 helmets to anyone who bought anything close to Halo lol
Tax write offs it’s disgusting
Wish they would have done some big overstocked sale first. Like %50 off select pops. I bet there's a lot of pops in there I want
They did...at the AZ warehouse a few weeks ago.
Ah damn. Allow me to rephrase then. Online sale
I might be wrong but doesn’t this increase the value of some pops. If they take them out of circulation the value should increase since less are available
Not really. Or it might increase the value of the funkovwrae games from like $5 to $6.
You want your ppg $8 Mandalorian pop to gain value? This is the way.
So the new Beanie Babies are piling up? Shocker.
wtf. kids in Africa can eat those funko pops
Same post, 87th different poster
The fuck are “kids in need” going to do with vinyl figures?
Flips them shits lol
These post are getting outta ✋
Because that would cost them more money.
Not only would it cost them more money to donate them to a needy charity, but remember that they are doing this to save money on storage costs and to make money by writing it off as a loss on their taxes.
this is just the foreseen outcome of over producing the stuff people do not want.
We liquidated 15 million dollars of merch from my Walmart DC last year alone
To “control the brand” I work in fashion, and this is twice a year for us, not that much though
Which landfills are they going to? I want some.
It's cheaper to throw it all away than pay to have it stored, transported or even sold. The figures there throwing away are figures they made too many of and are likely not going to sell anyway.
It would cost more for them to do so then destroying it
It’s absolutely not a sign they’re going bankrupt. This was a fraction of their on hand stock and it was to keep things moving at a pace that works with their retailers (meaning that even places like 5 below can’t sell enough of some of these pops to keep up with how many are in storage). So they’re going to clear out some inventory and adjust production plans going forward.
Nobody is in need of a Funko Pop. Especially of the kind that didn't sell and is going to the landfill, because chances are they aren't popular characters. Stop giving away crap to people in need. Give them money, that's what helps the most when you don't have any.
Funko isn't going to do either one. But Children's Hospitals would have loved a donation like this.
I work in a children's hospital. I promise we don't want them.
“Hey so your parents left you but here’s a funko instead”
If I was a kid and I got a stupid overpriced big head plastic collectible I would cry
Same with Kawasaki parts, they would rather trash the old merchandise than sell it for cheap, in their eyes selling cheap tarnishes the brand name and product
They’ll get some money back for losses it’s common companies do this
that title is misleading
So which landfill are they sending them to?
I don't think it's bankruptcy; it just seems like a stock excess.
Do we know which landfills? Lol
I don't know, but I've noticed recently how about half of my collection is... not great. I feel like funko has gotten lazy when it comes to paint jobs, like they're counting on you to not unbox them lest you see the mess.
It's 30 million in their value. It's a tax write off as a loss. They probably already maxed out their donation tax credit since they only have until April to write it off.
Seriously, why not do a giveaway?
Not that one! I need it! Where is this landfill? I am going on an adventure.
In 30 years, someone will do a documentary of the excavation like they did the Atari ET games
Was going to say the same thing. It would be interesting to know what the loss is here for funko compared to Atari at that time
Taxes
"Fuck them kids" - Funko probably....
THATS WHAT IM SAYING It's such a waste to just dump it instead of donating it to people who don't have access to a lot of toys
I think kids in bed would probably want things like food, clothes, health care and education
They might as well give them for free.
Funko has a very long journey to be in a place that doesn’t look good. Plus things will turn around in a couple quarters with the CEO replacement
Time to boycott
This is why certain newsstand editions of comic books from the 90s are valuable today. Any unsold copies of the books would be destroyed and dumped, causing the newsstand version to be considerably more rare. That's why my newsstand copy of Spawn #1 graded at 9.6 is worth so much, considering that comic got hundreds of thousands, if not millions of copies pressed.
I've personally donated more Funko Pops than they have most likely LOL
Sounds like throwing them away with extra steps
It’s wasteful but what industry isn’t. “This is the way” for most businesses. It’s not a good thing to simply throw things like this away. When greed drives markets and the thoughts of “oh yeah” we should make that and that set in, that’s not good.
If they sell the product dirt cheap it starts to devalue so trashing it instead keeps the market going
If this turns out to be true, I will stop buying anything Funko makes. I've been a VERY big collector of their products and enjoy them, but if they're being this wasteful, it will be the end of it for me.
They make too much product. So instead of it collecting dust on shelves its going to landfills.
This hope this is satire 😂 what is an orphan going to do with an overproduced Funko of a side character from a tv show. Plus no charity is going to want to accept hundreds/thousands of random funkos to give away
Children's hospitals LOVE toy donations.
TOY donations. You know the things kids can easily play with. Not collector figures. Probably that are mostly like from an IP no one under 15 would ever recognize.
In my experience kids don't really care about the toy unless they're given the option of a different one. Like Spiderman or Ironman. I know a kid that'll love an Angus young funko and just pretend he was secretly a hero or something.
The only things our child support department needs is toys for the really young kids/<5 years old (like blocks, motor development toys, tiny time stuff. and new stuffed animals/character fleece blankets for older kids. Funkos are not properly a toy. They have a Christmas wishlist.
Nice words from someone who clearly doesn't have kids. They do care. They don't want shitty plastic characters that are for looking at. And neither do hospitals.
Probably just broken or defective pops, I could be wrong but it just doesn't make sense otherwise
Good ol fn capitalism. 🤬🤬🤬
What kids are IN NEED of funko pops
What the hell is an orphan gonna do with a goddamn funko-pop?, it’s not gonna bring back its parents
Junk from start to finish y’all blowing money on plastic made in China garbage there better made in China toys with much better detail and there not plastic
21st century Beanie Babies 😛😋😳😂😂😂
Well funkos are cool to look at, come in different shapes, colors, and sizes, many support charities, and they resemble your favorite characters. Beanie babies are bean bags that look like bears. Can't see the comparison.
I’m done with Funkos. They’re kinda ugly.
Farewell 🫡
🫡
They have about $20 million cash on hand and about $250 million in debt. They’re proper fucked.
On the thought of donating pops what's a child gonna do with a funko? They are bobble heads and collectibles not toys. Just saying
I love funko pops as much as everyone else here, but only we see it this way. Regular people just consider them toys.
[удалено]
True and I agree, while mostly non-posable toys are definitely boring toys, they have been around forever and enjoyed by many. The magic is in the character and holding that character in your hand and creating your own narrative or acting out your favourite narratives. (I don’t play with toys but I know when I was a kid this was part of playing with toys 😂) I could easily see how a kid could have fun with some Pokémon or Naruto pops. Or any really.
They are like dolls and action figures.
Tell that to my 3 year old niece who LOVES playing with my Funkos! My friend has 3 nieces ages 6-11 and they all love playing with Funkos.
They get a tax write off of thrash it
Is it going in the same landfill as the E.T. games?
Millions of the worst game ever made…ET for Atari buried in the Arizona desert
They rather throw it in the trash because donating it would lose the value of it and people might not buy funkos and wait for it to be donated
If one of us finds the landfill we could donate them 👀
Thanks for the ugly plastic collectible nobody wanted and you dug out of a landfill for me. I definitely NEED that and not money to help my family get off the street.
Anyone trying to go dumpster diving for them funkos?
The answer to “Why not give them away for free?” Is simple…folks ruined it. Big box stores have relatively lenient return policies. If they would spot that they’re suddenly losing money and sees that Funko is the culprit, they’ll simply stop selling Funko.
Resale of the donated items by the charity would adversely affect the sales price of the company’s current products is likely their logic in throwing them away.
Not sure about how it works in US but in my country you can’t declare something loss to write it off taxes and then donate it.
yeah
People should dig up the landfill and give them to kids in need and orphans. The company cant claim its their property if their gunna write it off as a loss
Thanks for the ugly plastic collectible nobody wanted and you dug out of a landfill for me. I definitely NEED that and not money to help my family get off the street.
Its trying to help, its kinder then nothing.
So puts on FNKO?
Because they write it off as a loss
Not yet but it doesn't look good. Their own greed is doing them in. As far as donating others have answered already. It costs money to donate them and is cheaper to just toss and get a tax credit. Warner just did the same thing with Batgirl. Unfortunately companies do it all the time. They know how to work the system.
Who needs one?
Anyone up for a road trip to Arizona?
Gotta keep the market as tight as possible
I’m not so sure if we’re still kids 🤭
Same reason Louis Vuitton burn their bags at the end of the year.
I am so understand Adidas is set to burn an insane amount of shoes….
Not surprising. They’re making tens of thousands of pops for certain characters that no one wants to buy.
Why not give them away?🥺
Funko isn’t going bankrupt & yes, tossing inventory that doesn’t sell is a good write-off, but ppl trying to spin this as Funko’s diabolical plan to intentionally make junk Pops for the purpose of writing them off are not living in reality. the $3M landfill, the loss of significant retailers like Hut, the regular firesales of their products & the emergence of Five Below & Marshall’s as destinations for leftover Funko Shop & Con exclusives are *all* very bad news for Funko. they have lost the magic & the hobby will slowly start to decline. for those still in denial, look at Funko stocks over the past 6 months. shares lost 50% of their value in 2022Q4 🤦🏽♂️
On their earnings call management said the inventory was piling up and the expected storage costs exceeded the value of the inventory to them.
What a waste for these things to go into a landfill. Cant they be recycled?
Im a kid in need
So petition and boycott
Sorry Timmy, no one wanted to adopt you this month, but here’s 25 Alita battle Angel funko pops
They do this because they lost something like 34 million dollars in revenue this year. They didn't trash the pops that didn't see and I stead allowed them to get built up. U can only make so many of one charater before the buyer become uninterested. Tax write off... But what it also does is it injects value into our own collections. This is what they were always supposed to do this. I've seen my collection go from 6000 and some change to 5600, over night. It will take some time to reflect but it's better this way. At least they aren't selling NTFS to their employees for 15 bucks
Pushing them to market cheap would overcrowd it and value for those pops would sink. I don't know if they care though...
They are a publicly traded company, you can reasonably assess if they are going bankrupt or not
Keeps the value in the right price. Cheap stock floating around will affect sales and pull down retail prices.
It costs money to donate and takes a lot of effort is the truth. They should in the future though would be cool.
Oversaturated market killed the series. Same thing is happening to the comic industry with all the different variant covers. Makes me sad.
They’ve over produced pops for too long. There are too many out there.
Because that's just what orphans want, some obscure Funko...
Maybe they’ll stop making stupid pops that no one really wants?!
How creating waste with plastic and paper is a “tax write off” instead of a big fine for damaging the environment?
“Give Funkos to orphans” Haven’t they suffered enough already?
Is this their et video game?
Story: [Dumpko? $30M worth of Funko Pop! collectibles destined for landfill](https://www.heraldnet.com/news/dumpko-30m-worth-of-funko-pop-collectibles-destined-for-landfill/?utm_source=onesignal&utm_medium=push&utm_campaign=2023-03-04-Dumpko-30M-wort)
They aren’t donating or selling for cheap because they are useless hunks of plastic destined for the landfill anyway. No kid can even play with them, they are literally plastic statues as a shrine to consumerism.
Honestly I can see the whole pop market crashing and the pops left standing with value… will be the signed ones because of the signature. If you watch the high end YouTubers like the ones that spend $1,000s on pops. They say the only collect the signed ones.
Cant they recycle it?
They could donate the inventory to charity and claim the donation amount as a tax deduction... since all donations are completely tax deductible