A buyer reaches for a field from the Lego Dots vary on the Lego A/S retailer in London, U.Ok., on Monday, March 7, 2022.
Bloomberg | Getty Photographs
Gross sales of Lego construction kits persisted to leap in 2021, as youngsters and adults stayed house to construct “Big name Wars” and “Harry Potter” fashions lengthy after the coronavirus lockdown ended.
On Tuesday, the privately held Danish toymaker stated its annual earnings jumped 27%, attaining $55.3 Danish krone, or about $8.06 billion, up from $43.7 Danish krone, or round $6.36 billion in 2020.
Lego used to be one of the most toy corporations that noticed huge good points all through the pandemic, as shoppers of every age gravitated towards its construction units for leisure. The corporate touted its numerous number of toys and their enchantment throughout generations, in addition to its e-commerce industry to account for the gross sales surge.
The toymaker’s best appearing manufacturers integrated Lego Town, Lego Technic, Lego Author Knowledgeable, Lego Harry Potter and Lego Big name Wars. Those kits vary size-wise and issue, with the corporate pronouncing the subjects make it amusing for kids to be told construction abilities whilst offering an inventive outlet for adults.
Lego famous that because it enters its ninetieth 12 months, it expects its expansion charges to normalize and transition again to single-digit expansion. Additionally in mid-2022, the corporate plans to start phasing in sustainable gross sales packaging to switch single-use plastic baggage it makes use of to split Lego bricks.
Throughout 2021, Lego opened 165 new retail outlets, together with 95 in China, bringing its overall international retailer rely to 832. China has grow to be certainly one of Lego’s best markets and accounts for 340 retail outlets in its international retail footprint.
Lego’s sturdy income effects comes because it has determined to forestall handing over toys to round 80 independently owned retail outlets in Russia according to the conflict in Ukraine. The corporate has additionally donated round $16.5 million to emergency reduction efforts, with a focal point on offering fortify for kids and households.
