Monday 27 March 2023

Funko mauls Mondo

In the wake of Funko throwing away $30 to £36 million worth of Pops into a landfill (shades of the ill-fated Atari E.T. the Extra-Terrestrial video game), the collectibles company has laid off high-end subsidiary Mondo’s co-founders and shuttered its fan-favourite movie poster division.

This is less than a year after Funko bought Mondo.

“Mondo’s devoted fanbase and high-end pop culture collectibles make it the perfect complement to Funko’s current portfolio of brands,” Funko’s Andrew Perlmutter, formerly CEO and now president, said when the deal was announced. “By leveraging our international distribution and licensing network, we feel well positioned to expedite the growth of the Mondo brand.”

I proudly wear t-shirts featuring Mondo's fantastic Star Wars creations and, had I been attending, would have worn them to Star Wars Celebration Europe 2023.

Mondo's toy division remains unaffected by Funko's cuts and continues to produce limited edition Masters of the Universe products licensed by Mattel.

The cost of living crisis has impacted industries across the globe resulting in massive redundancies to improve profits. All affected employees have my empathy as I was laid off at the start of the millennium, which pivoted me into digital content creation. Others may not have that luxury.

During the pandemic, many kidults (myself included) started collecting again. From action figures to LEGO, there's been a resurgence. However, with rising costs, folks are cutting back or stopping entirely.

I've stopped collecting most things and only occasionally buy sought-after G.I. Joe Classified Series, Vintage Star Wars and Transformers brand exclusives from Hasbro Pulse (as a non-premium member).

What are your thoughts on Funko's Mondo moves? The state of collecting? Let me know in the comments below.

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