{"id":7976,"date":"2019-02-27T17:11:35","date_gmt":"2019-02-27T17:11:35","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/everything-awesome-at-lego-as-it-grows-again\/"},"modified":"2019-02-27T17:11:35","modified_gmt":"2019-02-27T17:11:35","slug":"everything-awesome-at-lego-as-it-grows-again","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/everything-awesome-at-lego-as-it-grows-again\/","title":{"rendered":"‘Everything awesome’ at Lego as it grows again"},"content":{"rendered":"\n
\n
<\/p>\n

\"HarryImage copyright<\/span>
\n Getty Images<\/span><\/p>\n

<\/span>

Image caption<\/span>
\n
\n Harry Potter was among Lego’s best sellers in 2018
\n <\/span>
\n <\/figcaption><\/figure>\n

Just like the Lego film, everything appears to be “awesome” at the plastic brick maker as it returned to growth again last year. <\/p>\n

Profits increased by 4% to 10.8bn Danish kroner (\u00a31.2bn) and sales were up 4% to 36.4bn Danish kroner.<\/p>\n

That was a rebound from 2017, when Lego reported its first fall in sales and profits for 13 years. It blamed too much stock in stores and warehouses.<\/p>\n

Star Wars, Harry Potter, Ninjago and Jurassic World were its best sellers.<\/p>\n

“We set out with one aim in 2018, to stabilise the business,” said chief executive Niels Christiansen.<\/p>\n

“Our underlying mission – what the family [which owns the business] wants – is to get Lego out to as many kids as possible,” he said.<\/p>\n

Its growth in market share in all major markets comes at time when toy retailers have been struggling, illustrated by the collapse of Toys R US<\/a>. This reduces outlets for sales of Lego, which is the world’s biggest toymaker when measured by sales.<\/p>\n

Mr Christiansen, chief executive of the Danish brick-maker for 18 months, said he would not be seeking “supra-natural” growth rates of the past.<\/p>\n

<\/p>\n

Image copyright<\/span>
\n Getty Images<\/span><\/p>\n

<\/span>

Image caption<\/span>
\n
\n Lego intends to open 80 new stores in China this year, where a flagship store opened in Beijing earlier this month
\n <\/span>
\n <\/figcaption><\/figure>\n

The company is still owned by the family of Kirk Kristiansen who founded Lego in 1932 and it takes its name from an abbreviation of the two Danish words “leg godt”, meaning “play well”. <\/p>\n

It had achieved double-digit growth for five years until 2017 when the company said it needed a “reset”<\/a> and cut 1,400 jobs worldwide. <\/p>\n

Sales in 2017 had been hit because it had “too much” stock in warehouses and shops.<\/p>\n