Acquisition of Loungefly helps company grow its accessories and handbag areas.
Pop culture CP company Funko has acquired contemporary fashion accessories business, Loungefly.
The move will see Funko expand its business into new accessories categories.
Founded in 1998, Loungefly designs and sells a wide selection of unique handbags and fashion accessories under licensed brands that include Disney, Marvel, Star Wars, Sanrio and Pokémon.
“We have long admired Loungefly and the company’s unique and differentiated collection of accessories and are excited to welcome them to the Funko family,” said Brian Mariotti, ceo of Funko.
“As we continue to extend our business into new and existing categories, this transaction provides us with key capabilities in the accessory and handbag category.
“We see tremendous opportunities to combine their creative design process with our speed-to-market capabilities, expanded distribution channels, and broad license portfolio to deliver accessories to our loyal fans featuring their favorite pop culture icons and characters.”
Trevor Schultz, founder of Loungefly, added: “As a leader in pop culture consumer products, Funko is the ideal partner for Loungefly’s portfolio of licensed and branded lifestyle accessories.
“We look forward to working with the innovative Funko team to extend our unique product offering into new channels of distribution and licences.”
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