Lego Builds Market Share as Ever-Popular Toy Bricks Defy Demand Drop
9 months, 1 week ago

Lego Builds Market Share as Ever-Popular Toy Bricks Defy Demand Drop

Live Mint  

Lego sales increased last year as the toy-brick maker’s Harry Potter and Fortnite play sets boosted its popularity, helping it outperform and take market share from its rivals despite a slump in global demand. Lego reported a 4% rise in consumer sales in 2023, outperforming both a 7% drop in the global toy market and the sales performance of it rivals. Lego’s overall revenue grew 2% to 65.91 billion kroner last year, but investments in growing global manufacturing capacity, sustainability and expanding into digital toys saw expenses rise, sending net profit down 4.9% to DKK13.11 billion. In 2024, Lego expects single-digit revenue growth ahead of the global toy market, with net profit expected to decline slightly due to increased spending on strategic initiatives, such as sustainability, retail platforms, and digitalization, it said.

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History of this topic

Toy story: Inside a niche (and expensive) hobby
1 month, 2 weeks ago

Toy story: Inside a niche (and expensive) hobby

Live Mint  

For 35-year-old Shrey Pacheco, a Delhi resident and media professional, one of the best gifts he has ever recieved was for his 31st birthday—a model of football club Manchester United’s legendary football stadium, Old Trafford, by Danish toymaker Lego. Manish Kumar, store manager at iconic UK toys chain Hamley’s for south Delhi, said that footfall of “serious collectors" is growing. …

LEGO confident in growth in China
2 months, 3 weeks ago

LEGO confident in growth in China

China Daily  

LEGO Group is confident in future growth in China. The LEGO Group, known for its brick sets, remains optimistic about its long-term growth in the Chinese market, focusing on innovation and local relevance. "What matters most is our commitment to the Chinese market and our confidence that we will achieve growth again in China," he added. "Monkie Kid is unique …

Lego CEO Ready to Pay Extra for Renewable Plastic Used in Toy Blocks
9 months, 1 week ago

Lego CEO Ready to Pay Extra for Renewable Plastic Used in Toy Blocks

Hindustan Times  

Faced with a shortfall of renewable plastic for its colorful toy bricks, the man in charge of Lego A/S is engaging with producers of the raw material in a race to meet sustainability targets. “There isn’t enough of the material on the market today, but sometimes things only happen when big players like us start paying a premium for materials.” …

LEGO Group shows growth despite challenging year for toy industry
9 months, 1 week ago

LEGO Group shows growth despite challenging year for toy industry

China Daily  

The model of Legoland Shanghai Resort on display during an expo in Shanghai. PROVIDED TO CHINA DAILY Despite a challenging year for the global toy industry, LEGO Group posted a two percent growth in revenue and a four percent spike in consumer product sales in the fiscal year 2023 compared with a year before, with plans to add 40 new …

The LEGO Group builds China expansion brick by brick
1 year, 3 months ago

The LEGO Group builds China expansion brick by brick

China Daily  

The Lego Group now has over 460 flagship and certified stores across 120 cities in China. The Lego Group, the global toy maker, will continue to accelerate its expansion in China in brick-and-mortar stores and online, as its consumer sales globally outperformed the global toy market in the first half year, an executive said. The Lego Group will continue to …

Lego posts boost in profit, sales as it raised some prices
1 year, 9 months ago

Lego posts boost in profit, sales as it raised some prices

Associated Press  

COPENHAGEN, Denmark — Lego said Tuesday that profits increased by 5% in 2022 from a year earlier and sales rose even as it raised prices on higher-ticket toys. We “landed the year beyond expectations on the back of exceptional growth last year and despite challenging market conditions,” he said. “Despite that, we saw our sales increase.” Lego said that there …

Lego posts boost in profit, sales as it raised some prices
1 year, 9 months ago

Lego posts boost in profit, sales as it raised some prices

The Independent  

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Lego continues building blocks in smaller cities
2 years, 4 months ago

Lego continues building blocks in smaller cities

China Daily  

Children play with Lego blocks during the China International Consumer Products Expo in Haikou, Hainan province, on Thursday. Leading global toymaker Lego Group has continued to accelerate the expansion of its retail business in China by opening more stores in smaller cities and reaching more consumers through social media platforms. Lego on Saturday opened its first branded stores in Haikou, …

Danish toymaker Lego expands amid sale surge
2 years, 6 months ago

Danish toymaker Lego expands amid sale surge

Associated Press  

COPENHAGEN, Denmark — Danish toy company Lego said Wednesday it plans to invest more than $1 billion over 10 years to build a new factory in the U.S. state of Virginia and to enlarge an existing factory in Mexico. The moves in North America follow Lego’s announcement last year of a similar investment in Vietnam to serve the Asian market. …

How the Pandemic Forced Families to Play Together and Increase Lego Sales
4 years, 3 months ago

How the Pandemic Forced Families to Play Together and Increase Lego Sales

News 18  

While the world came to a halt with the pandemic and businesses hit a bump, toymaker Lego became more and more popular. The sales of Lego jumped 14% in the first six months of the year as families under coronavirus lockdowns spent more time playing together at home, the Danish toymaker said on Wednesday. “We saw a very positive development …

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