Funko names Glenn Abell as new SVP of Sales for North America

EVERETT, Wash. - Funko, Inc. (NASDAQ: NASDAQ:FNKO), known for its pop culture collectibles and impressive 85% stock return over the past year, announced Monday the appointment of Glenn Abell as Senior Vice President of Sales for the U.S. and Canada, effective immediately. Abell, with over 20 years in the toy and collectibles industry, joins Funko from Mattel (NASDAQ:MAT), where he was General Manager and Global Head of the building sets category.

Abell’s career includes senior roles at Moose Toys and The LEGO Group, where he gained extensive experience in sales, marketing, e-commerce, and general management. His responsibilities at Funko will include overseeing the sales organization, driving strategy, execution, and growth across various sales channels for the $709 million market cap company, which generated over $1 billion in revenue last year.

Cynthia Williams, CEO of Funko, expressed confidence in Abell’s ability to contribute to the company’s strategic expansion. Abell himself is eager to lead during what he describes as a dynamic period of transformation for Funko. According to InvestingPro analysis, while the company isn’t currently profitable, analysts expect it to return to profitability this year.

His appointment comes at a time when Funko aims to strengthen its retail presence and partnerships. Abell’s expertise in sales leadership and category management is expected to be instrumental in this effort.

Funko, headquartered in Everett, Washington, distributes licensed pop culture products, including vinyl figures, action toys, and apparel. The company’s forward-looking statements indicate plans for continued retail growth and partnership development, though they caution that actual results may vary due to various risks and uncertainties.

This news is based on a press release statement from Funko, Inc.

In other recent news, Funko, Inc. has partnered with the National Basketball Association (NBA) to launch a new line of customizable vinyl figures featuring official NBA team logos. This collaboration is set to debut during the NBA All-Star 2025 festivities, offering fans a personalized way to express their team loyalty. In financial developments, DA Davidson has reiterated a Buy rating on Funko, citing a significant increase in the company’s direct-to-consumer sales during the fourth quarter of 2024. The firm expects Funko to exceed market expectations for Q4 2024, driven by a 33% surge in these sales.

In contrast, Goldman Sachs has maintained its Sell rating on Funko, with a price target of $7.00, following a visit to the company’s distribution center in Buckeye, Arizona. The analyst acknowledged improvements in inventory management but remains cautious about the company’s valuation. Additionally, Funko has appointed Jason Harinstein, a seasoned executive with collectibles industry expertise, to its Board of Directors. Harinstein’s appointment reflects Funko’s strategic focus on strengthening its leadership amid a dynamic market environment. These developments underscore Funko’s ongoing efforts to enhance its product offerings and operational capabilities.

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