Danish toymaker Lego, the world's largest, reported record sales in the first half of the year and continued to increase its market share, Chief Executive Officer Nils Christensen told AFP in an interview.
"In recent years we have been able to grow faster than the market and gain market share quite consistently. I don't think we have reached the ceiling," Christensen said.
In the first six months of the year, the global toy market expanded by 6.9 percent, and Lego increased its market share at almost double the rate. The company's net profit rose 10 percent year-on-year to 9 billion Danish kroner ($1.39 billion), and revenue jumped 12 percent to a record 34.6 billion kroner, its sixth straight first-half increase.
The company has seen double-digit sales growth in the U.S., where products come mostly from its factory in Mexico, and a new factory in Virginia is under construction. Unlike rivals Hasbro and Mattel, Lego has not been hit by Donald Trump’s import tariffs.
Christensen attributes the success to a broad product portfolio — the company added 314 new sets in the first half of the year alone — as well as a strong brand, successful franchises like Lego Star Wars and Harry Potter, partnerships with platforms like Fortnite, and the opening of 24 new stores, bringing the total number worldwide to 1,079.
The company, founded in 1949 by Ole Kirk Christensen, remains family-owned and has established itself as a global leader in the industry. | BGNES