The LEGO Group is doing big business this year.
The Danish maker of construction sets remains one of the few privately-owned companies to report earnings, and in the first half of 2021 consumer sales spiked 36% as revenue grew 46% to drive 104% growth in operating profit. The current growth rate is outpacing the rest of the toy industry as LEGO gains market share globally.
“We are very pleased with the progress we made across all areas of the business during the first half,” says Niels B. Christiansen, CEO, The LEGO Group. “Our performance was driven by strong demand for our portfolio, which has attracted new builders to the LEGO brand. Our year-on-year growth benefited from fewer COVID-19-related restrictions compared with 2020 as our factories operated uninterrupted and the majority of retail stores re-opened.”
LEGO’s growth on a global scale is happening across multiple retail channels, both physical and digital, along with its own store base. In the first half of this year, the company opened more than 60 new LEGO Store locations, including a new flagship in New York City and 40 stores in China.
The bestselling themes for The LEGO Group so far this year include LEGO City, LEGO Star Wars, LEGO Harry Potter, LEGO Creator Expert, and LEGO Technic.
Additionally, the company continued to meet its philanthropic and environmental goals in the first half of 2021.
“The single biggest motivating force for everyone at The LEGO Group is knowing we can have a positive impact on future generations,” Christiansen says. “Whether it’s in times of acute need or helping a child develop new skills that will last a lifetime, LEGO play and the LEGO brand can, and will, make a difference. We’re proud to be in this position and are committed to doing all we can to continue to inspire and develop the builders of tomorrow.”