Lego has had a remarkable run in recent years, with its little colored bricks and minifigures taking the Danish manufacturer to the top spot as the most profitable toy company in the world. Last year, Lego overtook Hasbro, which produces Nerf guns, My Little Pony, Transformers, Jenga, Clue and Monopoly, to become the largest toy company on the planet. The Danish toy manufacturer has achieved this feat by increasing its revenues and profits. The success of the Lego movie has been a major factor in this growth, with sales rising by 11% in the first six months of the year.
Lego is now positioned as the top seller of toys worldwide, with adults as well as children being drawn to its iconic bricks. Lego sets are both challenging and fun, allowing users to build everything from Harley Davidson bikes to Bugatti cars and Harry Potter sets. The company has also formed a partnership with Tencent, a technology giant, to develop licensed videos, games and other entertainment content for Chinese children. Lego has been a children's favorite for decades, but its business has grown rapidly over the past decade.
This growth has seen it surpass Mattel as the world's largest toy manufacturer in terms of revenues and profits. According to a Toyology survey, 3,000 people said that Lego was the most popular toy ever made compared to Barbie, Bandai Namco, Nerf and several other toy brands. The family-owned company also expanded its focus on adult construction and built more parts for Lego fans. Last year, Lego managed to grow once again and become the largest toy manufacturer in the world for the first time in history.
Several big toy companies compete with Lego such as Bandai Namco, Barbie, Funko, Nerf and Fisher-Price. However, Lego continues to be one of the best-selling toy brands internationally due to its iconic bricks that allow children and adults to show their creativity and make good use of their mental abilities.
