Friday, July 20, 2018

How Funko Is Riding the Fortnite Wave

Funko Inc. (NASDAQ: FNKO) shares saw a solid gain on Wednesday after the company announced that it had a new partnership with Epic Games to create a range of Fortnite toys and collectibles.

The new Fortnite branded collection will feature more than ten different product lines, including Funko��s iconic Pop! figures, 5 Star figures, Pint Size Heroes, Vynl, keychains, POP! apparel and more.

Launching holiday 2018, the collection will be available for purchase at a broad array of retailers worldwide.

Fortnite is the action building game from Epic Games that lets you drop into a massive 100-player PVP Battle Royale. It has become one of the most wildly popular games in 2018.

Brian Mariotti, CEO of Funko, commented:

We are thrilled to collaborate and partner with Epic Games to create the inaugural Fortnite product collection and to bring these characters to life for the first time. This collection will be a true celebration of Fortnite��s incredible popularity and cultural significance, and we believe our Funko Fortnite collectibles will strongly resonate with fans of the game. We look forward to expanding this collection and combining our leading product capabilities with our strong retail platform. Ultimately our goal is to create a powerful merchandise strategy for the Fortnite brand, as well as bring these amazing collectibles to fans around the world.

Shares of Funko were last seen up about 13% at $17.55, with a consensus analyst price target of $13.63 and a 52-week trading range of $5.81 to $18.42.

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