WARNING: The following contains spoilers for Loki Episode 2, "The Variant," now streaming on Disney+.
The climax of Loki's second episode sees the titular trickster come face to face with the variant that the Time Variance Authority is hunting. Originally a figure in an obscuring black robe, the episode gradually builds to the reveal. When the figure drops her hood, there's a gleam of familiar green-and-gold Asgardian armor and a horned circlet on her brow, broken at one side. It seems to confirm the Lady Loki rumors. However, a possible spoiler in the dub credits may suggest a different theory is true after all -- the Enchantress is in play.
At the end of "The Variant," international credits list the voice cast: While Loki holds the lead, dubbed by David Brau, the second listing is for a Sylvie, dubbed by Elisa Beuter. As the third name on the list is Mobius' dubber, Luis Posada, it implies Sylvie had a central role in the story. However, no Sylvie was named in the episode, and the likeliest character to be that important is who fans assume is the female Loki.
However, there is a Sylvie in Marvel Comics. Sylvie Lushton is a human girl who believes she's Loki's daughter, courtesy of another one of Loki's schemes. Introduced in Dark Reign: Young Avengers #1 by Paul Cornell and Mike Brooks, Sylvie adopts the original Enchantress' manners and magic. She remained with the Young Avengers for a time, was lured into villainy and eventually ran into conflict with the "true" Enchantress, Amora, during the 2016 Illuminati event. Banished into an unnamed but dangerous region of the Ten Realms, it's still unknown if this Sylvie has survived.
As one of Loki's creations, not even existing as a human until Loki thought to create her, Sylvie was imbued with powerful magic of her own. Much of what she can bring to bear echoes not just Loki's illusions but also Amora's mind control abilities. Powers that seem eerily similar to the manipulations that "Lady Loki" displays during her Roxxcart showdown with Loki. Sylvie's magics often carried a signature green glint in her comic appearances, just like the new Variant Loki and the TVA's mysterious enemy.
Theories about the Enchantress having a role in Loki began early in production, as fans followed casting rumors and set pics. These theories gained more fuel as the first trailers released, including CBR's breakdown of the possibility of Sylvie Lushton becoming Loki's surprise villain. The original Sylvie was distraught to discover her comic book origins. Loki's new nemesis in "The Variant" didn't seem too happy to meet him, either. "Lady Loki" is unimpressed with the Variant's idea of taking over the TVA, and she knows better than to trust him further than she can throw him. It's another parallel that makes the Spanish dub card an important if uncertain clue.
Unlike the TVA's Loki, the lady wearing Loki-style armor isn't as talkative. But the most brutal thing she has to say to him is, "This isn't about you." It's a striking attack on Loki's pride and identity, but it also might be literal. For a series that's already invested in putting Mobius' sad little boy in the starring role he's been aching for since 2012, it's the cleanest way to pull the rug out from under him one more time. And it's a hint that whatever's in store for the TVA and its Timekeepers isn't just a mystery about rogue Loki variants but something far more personal.
Loki doesn't get the chance to ask questions before jumping through the hijacked time portal because her plan is already in full swing. Though it's possible the dub card is a mistake, or a swerve, the idea of a villain who's not a Loki, but perhaps benefits from the assumption that it is one of them, is too clever to ignore. Meanwhile, with the likelihood that there are more Loki Variants to come as the Sacred Timeline fractures, there's plenty of chaos to keep this Loki busy for now.
Loki stars Tom Hiddleston, Owen Wilson, Gugu Mbatha-Raw, Wunmi Mosaku, Sophia Di Martino, Richard E. Grant, Sasha Lane, and Eugene Cordero. New episodes air Wednesdays on Disney+.