Loungefly’s geeky backpacks are big business for Funko

0
31

Guests attend FunKon Loungefly Fashion Night at Funko Hollywood on August 02, 2021 in Los Angeles, California.

Stefanie Keenan | Getty Images Entertainment | Getty Images

You can tell from the Star Wars posters on the walls of their home and the shelves packed with Disney princess and Masters of the Universe merchandise that Derrick Baca and Liz DeSilva really are the super nerds they claim to be.

The couple run Loungefly, a collectible fashion and accessory brand, owned by pop culture giant Funko — and business is good.

On Thursday, the company reported that sales of Loungefly-branded products soared 132% to $29.6 million during the second quarter. While Loungefly accounted for only 12.5% of Funko’s total sales, it is a fast-growing brand and has thrived even during the pandemic, thanks in part to Baca and DeSilva.

“I honestly think they could be as big as Funko one day,” Funko CEO Brian Mariotti said. “We are just growing leaps and bounds.”

Funko’s net…

Read more…