Funko, having built its business around Funko Pop! vinyl figures across multiple licenses, will introduce “Funko Pop! by Loungefly” fashion accessories (backpacks, bags, wallets and other products) in 2020 in a move aimed at direct-to-consumer and specialty retailers, says Funko VP Derrick Baca.

The company has previously largely limited the fashion accessories business to its Loungefly brand — which it acquired in 2017 — that typically sells direct-to-consumer and through specialty retailers.

The direct-to-consumer business for the products will be limited to collections of 6-8 pieces that will be introduced throughout 2020, says Baca. The line will likely start with Loungefly licenses that largely consist of those tied to Disney and Marvel IP as well as WarnerMedia’s Harry Potter and DC Comics properties, says Baca.

“There have been some Funko Pop! accessories out there but there hasn’t been a true strategy behind it, so our core strategy is to go direct-to-consumer and [specialty],” says Baca. “We want it to be quality and don’t want it to come out and be cheap and deep. We want to start at the quality level of Loungefly, but we have to make it work for the intended retailer.”

The tying together of the Funko Pop! and Loungefly brands under a single label will be important since the majority of Loungefly customers are likely unaware the company was purchased by Funko, says Baca.

“This way when Loungefly customers see the new brand and understand the quality and it will be an easy transition” to the tie in with Funko Pop!,” says Baca.

At the same time, Funko will likely introduce some higher-priced Loungefly products. Pricing hasn’t been set. Loungefly products currently top out around $70 for a backpack, $90 for those sold inside Disney theme parks, says Baca. The higher prices potentially will be tied to moving the brand into leather for the first time.

With Loungefly increasingly becoming a global brand, Funko is seeking broad licenses that cover Loungefly, Funko Pop! and other company brands, says Baca. Funko had licenses for 611 properties as of late March, the largest portion of which are tied to the figures.

Contact:

Funko, Derrick Baca, VP Business Development and Sales Loungefly and Funko softlines, derrick@funko.com