Lego is reinventing its iconic brick sets and keeping the toy industry afloat
The toy industry is headed for its second consecutive annual sales decline, but it’s got one thing propping it up: colorful, interlocking plastic bricks.
The toy industry is headed for its second consecutive annual sales decline, but it’s got one thing propping it up: colorful, interlocking plastic bricks.
At a time when toy companies are struggling to match the massive gains of pandemic-era sales, Lego is growing rapidly. The Danish company saw revenue jump 13% in the first six months of the year and continues to snap up market share.
“When you look at toy sales, Lego has just been driving all the growth in the industry this year,” said Eric Handler, managing director at Roth MKM.
After coming to the brink of bankruptcy in the early 2000s, Lego has reshaped its business and diversified its customer base, helping it to elevate sales even in inflationary market conditions.
Lego has posted positive annual revenue growth in each of the past six years.
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