How much is the lego company worth ? Lego sales are building on pandemic-era growth, boosted by popular sets from Lego Star Wars and Lego Harry Potter.
On Wednesday, the privately held Danish toymaker said revenue during the first six months of the year jumped 17%, reaching $27 billion Danish krone, or about $3.5 billion.
Lego was among the toy companies that saw massive gains during the pandemic, as consumers of all ages gravitated toward its building sets for entertainment.
CEO Niels Christiansen touted the company’s diverse selection of toys and their appeal across generations for the continued sales surge.
“It is the broadest one we ever had,” Christiansen said of Lego’s current portfolio. “It’s preschool, it’s kids, it’s girls and boys, it’s teens, it’s adults — it’s actually across the board that the portfolio is super strong.”
In addition to top-selling Star Wars and Harry Potter models, Lego has seen strong performance in its homegrown Lego Technic and Lego City.
“I think that we make sure we tap into different passion points,” Christiansen said. “You can buy a Formula One car or a Ferrari, or you can have a Duplo set that fits in your bathtub.”
Lego’s strong earnings results come despite a series of global headwinds including war in Ukraine, store and factory shutdowns in China due to the Covid-19 pandemic and rising inflation associated with costs of raw materials, energy and freight.
Christiansen said strong sales have allowed the company to come out ahead of these financial difficulties. Net profit between January and June 30 reached $6.2 billion Danish krone, or about $802 million, essentially in line with year-earlier levels. During the same period last year, Lego generated net profit of $6.3 billion Danish krone, or about $812 million.
The company also has been reaping the benefits of opening stores in new markets, particularly in China. During the first half of the year, the company opened 66 shops worldwide, including 46 in that region.
“We’re making quite significant investments in our factory in China, as well,” Christiansen said. “Right now, we’re expanding molding and packing and warehousing capacity there to also sustain growth coming forward.”
Lego most popular brand on YouTube
Lego’s popularity is also exhibited on Youtube. The Buy Shares research overviewed the most popular brands on YouTube, where Lego emerged top with about 10.04 billion views.
Vat 19 ranks in the second spot with 5.84 billion views which is at least half compared to Lego. On the other hand, MundoBitaVEVO ranks in the tenth spot with 2.52 billion.
Lego’s video content on its YouTube channel has played a vital role in the company’s brand value. The channel is packed with different content of original episodes of LEGO Star Wars and Ninjago. Additionally, it has a collection of designer videos and sub-channels like LEGO Gaming and LEGO Fan Tube for the adolescent fans of LEGO.
How Lego managed to become valuable toy brand
With the high brand value, Lego now ranks among the most innovative and successful companies in the world. The company has deployed several strategies over the years since being on the verge of bankruptcy in 2003.
The company has been able to adapt to the changing environment. Notably, with the digitization of many aspects, Lego made a significant leap into the toys-to-life market. With its approach, Lego incorporated video games where physical action figures interact with those on-screen. The company has managed to remain relevant, while still adhering to its true self and purpose. The brand understood changing times and found a way of adapting to remain true to its brand identity.
Like most valuable brands, Lego has managed to understand its target audience and develop products that customers want. From the threat of bankruptcy, Lego focused on researching beforehand to find out what their audience wanted. Notably, Lego carried out one of the first and most successful crowd-sourcing operations. The company asked fans and enthusiasts to suggest and vote on ideas for new models. This approach has seen Lego get back on track to become the most valuable toy company.
Lego’s brand value recorded significant gains in 2020 as more adults joined children in playing. The company witnessed a surge in revenues due to more families playing together and more adults playing its harder-to-build sets during the coronavirus pandemic. Notably, most adults were interested in jigsaws, and board games as families spend more time together. With the onslaught of the pandemic, most brands have been impacted negatively. However, the pandemic has not dampened Lego’s forward momentum.
It is worth mentioning that Lego’s ability to cater to customers of all ages has seen the company beat rivals. Lego doesn’t define kids as children. Anyone with a love for blocks and creativity is a Lego potential customer. Lego has shifted to become a transnational, cultural toy company, something that has impacted its brand value positively.
With a diversified supply chain, a product range that caters to a broad spectrum of interests, and a global market of all ages, Lego is positioned to keep succeeding.
How Much Did Lego Sell 2020?
As a result of wider product ranges, e-commerce investments going from strength to strength, and growth in China, Lego consumer sales soared 21% in 2020. Danish toymaker announced a revenue of 43 million euros for its fiscal year. The amount is approximately $6 billion Danish krone. Compared to 2019, this is a 13% increase.
How Much Money Does The Lego Company Make In A Year?
The LEGO Group reported their earnings for full-year 2020 today. To DKK 43, the company’s revenue increased 13 percent over last year. The same period saw consumer sales grow 21 percent to $7 billion. A total of DKK 12 was earned from operating activities. There were $9 billion in revenue in 2019, a 19 percent increase over the previous year.
Is Lego The Biggest Toy Company In 2020?
Approximately six billion dollars was the market value of Lego in 2020, making it the top ranked toy brand in the world. The amount is $5 billion. dollars. 89 billion U.S. dollars were spent on toys last year, making it one of the largest markets in the world. In 2019, revenue will be over a billion dollars. By far the most lucrative player in the toy industry in 2019 was Namco Bandai.
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