Lego updates
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Lego grew dramatically in both sales and profits in the first half of this year as the Danish arms manufacturer proved to be one of the winners of the Covid-19 plague.
It established its position as the world’s largest toymaker maker by increasing revenue in the first half by 43% annually to DKr23bn ($ 3.6bn) with total profits reaching 140% to DKr6.3bn, both reported.
Although his earnings were 50% more than the number of companies – Transformers and My Little Pony manufacturer Hasbro – The profit of Lego was ten times higher.
Niels Christiansen, CEO of Lego, praised the huge investment in its sales, sales, and sales outcomes instead of using the Covid-19 epidemic in terms of growth.
“Don’t expect 50% growth per year. But we think this is real growth, and this is a new level we can grow, “he told the Financial Times.
Lego recovered from the recent economic downturn in 2003 to become the most powerful company in the toy industry to date, though it had one idea – plastic bricks – instead of the many elements that make up the rivalry of rivals Hasbro and Mattel. She enjoyed it strong growth five years in 2020.
Christianen, who took a small investment in his growth in 2017, has invested heavily in businesses such as Monkie Kid, the first company to adopt Chinese culture, and Lego has disrupted the line between physical and digital. He also placed easy bets on his retail stores, opening up hundreds of epidemics.
It recently opened a new store in New York that not only sells Lego sets such as Super Mario, City, or Harry Potter but also offers customers access to the city’s major brands and experiences.
Christianen says Lego is looking to use its stronghold to improve its financial performance in markets that could be larger in an effort to strengthen its interest in developing all of Lego’s bricks. It did very well in June when it announced the manufacture of its bricks Refrigerated drinking bottles, in the next 18-24 months. “We’ll be exploring all the other areas where we can run,” he added.
The official said he did not look back for six months but was happy that in his four years in charge of Lego he had grown twice the size of the toy market, and now has sales for all ages and interests.
Asked if he was worried that the company might collapse as it was in 2017 after a decade of success, he replied: “That’s a good question. I’m always frustrated, I’m always worried – it’s my behavior. to get half a year; we did this to have a regular trip. Could there be a half-year in the future where we could sit down? I think so. “
Lego and its owners are the founding family of Kristiansen and their foundations, and Christianen called them wanting to “participate financially in the company”. He also described how Lego’s products had managed to cope with the epidemic and the huge growth due to production in Europe, Asia, and North America.