How can Prime 1 possibly plan to sustain itself at this rate?!

[moyiori]

There's only so many folks who have the money/space for 1/3rd scale statues, even 1/4th scale statues. With rising cost on top of it its affecting everyone and especially those who mostly make bigger statues. If you are a new collector then you will either be turned off quick to the rising cost or maybe some will just have the options to buy discounted older statues that people have to sell at a huge discount.

If they are diversifying by offering more Anime statues that helps, but the rate of stuff being pushed out will likely decrease or they will do like SS and just keep producing but with very low ES's with a few exceptions.

[ukshaun]

Originally Posted by clockwork463

Am I uhh misreading the room here?? The amount of statues this company is releasing combined with the absolutely ridiculously inflated prices seems like it's creating a situation that will make it nearly impossible to completely sell a majority of their stock overall in the future.

Their page on bbts is like ten straight pages of statues 1k to 4k that is just sitting there, and they just announced like 20 new statues that are inevitably going to be even more expensive. What are these people smoking?? Who tf is going to buy all these overstocked statues? Wtf is going on with this company???!! Is this like a ponzi scheme or something?

Could it be Prime 1 collectors have deep pockets, and are blissfully unaware of the concerns perceived by yourself?

I have watched 1/6th scale live chats, and some of those guys cannot quite understand statue collecting folk,
and the high price and large size associated with the hobby

[Underoos]

I'm less concerned about P1 than I am XM. Prime 1 is releasing production photos and products are coming out.

I also think it's telling that in this most recent showcase we saw a lot of 1/4 statues from a variety of popular IPs with simplistic bases. It looks like they're making efforts to diversify.

[Westhelle]

Prime1 has a bunch of Bruce Wayne's among their customers. No need to worry, pal.

[FastballSpecial]

Originally Posted by Gyro Zeppeli

That...that actually would make a lot of sense to be honest.

It's been a rumor for quite some time.

[dao2]

If they aren't doing cash what money are they laundering then?

[eternalblue02]

It's probably why P1 took 8 months between showcases. Catch the factories up (Covid) and reassess the landscape. I've got no problem if P1 wants to add more video game and anime pieces or look into offering 1:4 pieces. I don't mind their 1:3 pieces and the large bases but I'm not foolish to think that's what everyone wants and hopefully they find a middle ground.

I do not think P1 is creating a bubble for themselves that will kill them down the road and hopefully are smart enough to see the landscape. I'm also more worried about XM atm than P1. I'll be irked if the Transformers I have on preorder are cancelled for whatever the reason.

[God]

Originally Posted by bdlovelace

I don?t think it?s a question of whether or not Prime1 is in trouble TODAY. From what I?ve seen, people are starting to question whether or not Prime1?s business strategy is sustainable long-term.

I believe that Prime 1 will be fine long term. They've set themselves up well with a long term plan. Even if the market for large scale polystone dips, they still have Cutie1, Prisma Wing, and general small scale PVC figures to fall back on.

I've seen that they recently acquired the license for Peanuts in Cutie1, so they have been spreading quite far.

[bdlovelace]

Originally Posted by God

I believe that Prime 1 will be fine long term. They've set themselves up well with a long term plan. Even if the market for large scale polystone dips, they still have Cutie1, Prisma Wing, and general small scale PVC figures to fall back on.

I've seen that they recently acquired the license for Peanuts in Cutie1, so they have been spreading quite far.

What?s their long-term plan? I mean, you’re God man, so If you have insider information, let us know!

But in all seriousness, what I have seen over the last several years is that their plans have included the following:

1. An endless stream of new prototype reveals (with rare a delivery, and if delivered, it is years after the fact).
2. Lead times between 2 and 5 years (insanity - the spread really is that much)
3. Old product still available from years past.
4. Customer service that is below average if not in some cases, non-existent.

If I were to research writing a book about building a long-term, successful business, I’m pretty sure I wouldn’t run across any literature suggesting any of those things.

Here, I am speaking strictly of their 1/3 scale lines. I’m not really including their newer children’s toy lines in my analysis.

In my humble opinion, Prime1 is over-extending themselves. They are trying to grow too much, too fast which can also wreck a company, not just slumps in sales. We see evidence of this in the fact that their lead times have just become abysmal and downright ridiculous for their 1/3 statues.

I want Prime1 to succeed and grow as it’s good for collecting, but something needs to change regarding lead times.

[qz33]

Who cares.

Stop sending them PO money years in advance and wait to consider anything until it is actually in hand and all these considerations become rather moot.