This March, The Lego Group reported the details of its strong growth in the year 2020.
“More children and fans played with LEGO® bricks during the year. Strong consumer demand resulted in double-digit growth of consumer sales, revenue, and operating profit as well as substantial market share gains. Strategic investments designed to deliver sustainable growth in the long-term continued.”
Lego’s differentiating business factors include:
Strong portfolio with broad appeal: Strong sales in 2020 were driven by more people of all ages building with LEGO bricks. They were inspired by a strong portfolio that offered creativity for all ages and interests. Top themes in no particular order were LEGO® City, LEGO® Technic, LEGO® Star Wars™, LEGO® Friends and LEGO® Classic.
Innovative and agile omnichannel network: The company’s investment in its omnichannel retail ecosystem supported growth in its partners’ and its own channels as physical stores were forced to temporarily close to prevent the spread of COVID-19.
Ambitious digital transformation: During 2021, the LEGO Group will accelerate its investment in digitalization across the entire business. Its ambition is to develop world-class digital experiences for everyone who interacts with the company from consumers and retail partners to suppliers and employees.
Investing to create a positive impact for future generations: In 2020, the LEGO Group announced that up to US$400 million (DKK 2.6 billion) will be invested over three years in sustainability initiatives. These will focus on bringing learning through play to more children, reducing its environmental impact, and ensuring inclusive workplaces for all people involved in making the company’s play experiences.