Lego has had an incredible journey in recent years. The Danish manufacturer of those iconic little colored bricks and minifigures has surpassed Mattel, the maker of Barbie and Hot Wheels, to become the most profitable toy company on the planet, according to Quartz. After another six months of rapid growth, Lego is now the largest toy manufacturer in the world. The Lego Group, established in 1932 by Kirk Kristiansen, whose family still controls the group that employs around 20,400 people in 40 countries, has achieved this feat.
Lego's global popularity has been further boosted by the success of its movie franchise. In the first half of the year, sales increased by 11%. The success of Lego Friends, a girl-centric toy line that was widely criticized for promoting stereotypes, has also been a major factor in its growth. Sales to girls tripled after its launch.
The quirky but not complacent sense of humor, self-referential fun and sense of innocence, but not simplicity, have been hallmarks of Lego's media work for years, from games to film. The United States was the biggest engine of growth for a while, but now that growth is slowing, Europe and Asia have taken over. Most toy sales occur in the second half of the year, and it is possible that the effect of the film has disappeared by then. In a press release announcing the earnings, Lego CEO Jørgen Vig Knudstorp said he wasn't sure how long the film's toy line will continue its momentum.
Last year, the Danish group Lego managed to grow once again and now, for the first time ever, it has become the biggest toy company in the world, surpassing Mattel. This remarkable achievement is a testament to their commitment to innovation and creativity.
