Despite the challenges facing the toy business as a whole, one of the biggest players in the game reported earnings that significantly outpaced the rest of the global industry: LEGO.
The LEGO Group capped its 90th anniversary year by reporting a 17% spike in overall revenue in 2022 to approximately $9.82 billion ($64.6 billion DKK). LEGO says that its focus on retail partnerships and investment in its direct-to-consumer (D2C) platform and global supply chain contributed to its success.
“Our strong results show that the LEGO System in Play is more relevant and appealing than ever,” says LEGO Group CEO Niels B. Christiansen. “I am very satisfied with our performance. We achieved double-digit top-line growth and landed the year beyond expectations on the back of exceptional growth last year and despite challenging market conditions. This was due to our relevant brand, a fantastic, diverse portfolio, inspiring shopping experiences, and outstanding execution from our teams.”
Performance Highlights
LEGO, one of the few privately-held toy companies to report earnings publicly, says that its operating profit increased 5% “despite extraordinary inflationary pressures on materials, freight, and energy costs.” The company also made significant strides in reaching more kids, moving ahead with sustainability, and increasing its retail footprint with the opening of 155 new LEGO Stores.
New for 2023
At The Play Date — the new event hosted by Adventure Media & Events (publisher of The Toy Book, The Toy Insider, and The Pop Insider) and The Toy Association — LEGO displayed several of its new offerings for 2023, including the reimagined line of LEGO Friends, plus the much anticipated Lord of the Rings set and an array of new products for kids and kidults.
The impressive lineup that was on display for attendees included the following sets:
- LEGO Disney Celebration Train
- LEGO Disney ‘Up’ House
- LEGO Star Wars Pirate Snub Fighter
- LEGO Star Wars The Mandalorian’ s N-1 Starfighter Microfighter
- LEGO Star Wars Helmet — Princess Leia in Boushh Disguise
- LEGO Jurassic Park Brachiosaurus Discovery
- LEGO Jurassic Park Visitor Center: T. rex & Raptor Attack!
- The Lord of the Rings: Rivendell LEGO set
- LEGO Botanicals collection LEGO Icons Wildflower Bouquet
- LEGO Icons Dried Flower Centerpiece
- LEGO Hokusai’s The Great Wave
- An assortment of LEGO Super Mario sets
- An assortment of LEGO Minecraft sets
- An assortment of LEGO DUPLO Sets
- LEGO Classic Creative Party Box
- LEGO Classic Creative Pastel Fun Box
- LEGO Technic 2022 Ford GT
Jurassic Park 30th Anniversary Collection
Following The Play Date, The LEGO Group also revealed new Jurassic Park 30th Anniversary sets that will roll out in June (the LEGO Jurassic Park Visitor Center: T. rex & Raptor Attack is available now).
- LEGO Jurassic Park Velociraptor Escape
- LEGO Jurassic Park Dilophosaurus Ambush
- LEGO Jurassic Park Triceratops Research
- LEGO Jurassic Park Brachiosaurus Discovery
The LEGO Group expects its earnings to grow in the single digits this year.
