Earlier this month, Funko announced a 48% increase in inventory over 2021, coinciding with a 42% increase in debt and 108% drop in profit, meaning that up to $36 million of its famous Pop! figurines would be destroyed.
Now Funko has laid off most of the staff from its Mondo brand, which it purchased less than a year ago from Alamo Drafthouse, and killed the poster division.
Exclusive: Funko has gutted Mondo, laying off most of the staff and ceasing production of posters. https://t.co/Ym9FgwOPeV
— TheWrap (@TheWrap) March 24, 2023
The Mondo brand features branded products like books, pins, figurines, cassettes, games, tiki mugs, and more, but it started with posters.
Now, after this cull, the only two divisions that remain at Mondo are records and toys, according to The Wrap.
Mondo uses well-known artists in the comic-adjacent space and creates one-of-a-kind pieces of branding using the intellectual property, going a bit deeper into the fandom trenches than run-of-the-mill online store fare. Using things like cassettes and records, it serves as a multi-sensory experience that complements physical products like toys and posters, and creates a greater branding experience.
What this means for collectors is that Mondo-branded products might become even more sought after and valuable, not unlike SVB-branded products on eBay following the bank’s collapse.
