Lego Builds on Partnerships to Achieve Record Sales
Lego's first-half sales climbed 12% to a record 34.6 billion Danish crowns, driven by partnerships with brands like Formula One, Fortnite, and Jurassic Park. Despite global economic tensions, the company, expanding manufacturing in Mexico and the U.S., reported substantial growth, especially in China and the U.S.
Lego, the Danish toymaker, announced a remarkable 12% increase in its first-half sales, reaching a historic 34.6 billion Danish crowns. This growth was largely fueled by strategic partnerships with major brands, including Formula One and Jurassic Park, boosting its competitive edge in the toy market.
CEO Niels Christiansen highlighted that while the toy market has grown by nearly 7% this year, Lego's sales are outpacing this, taking significant market share. Despite challenges, particularly in China, Lego saw growth across all markets, with significant contributions from collaborations with franchises like Fortnite and Jurassic Park.
Despite economic uncertainties and global trade tensions, Lego's operating profit rose by 10% to 9 billion crowns. The company plans to expand its manufacturing base, with a new factory in Virginia by 2027, further strengthening its production and supply chain capabilities, particularly amidst tariff concerns.
(With inputs from agencies.)
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