Consumer products specialist, Funko has acquired Loungefly, the contemporary fashion accessories company.
The new deal sees Funko enter an agreement with the Californian company that specialises in designing and selling handbags and accessories inspired by popular brands such as Disney, Marvel, Star Wars, Sanrio, Pokemon and more.
Loungefly products are currently sold through specialty stores, boutiques and department stores across the globe.
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 favourite 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 licenses.”