The LEGO Group reported growth in the first half of the year as families turned to activities such as construction amid stay-at-home orders during the COVID-19 pandemic.
The company reported a 14% sales increase with revenue spiking 7% to $15.7 billion DKK (approx. $2.5 billion USD). The company says that LEGO Technic, LEGO Speed Champions, LEGO Classic, LEGO Harry Potter, and LEGO Disney Princess were the top-selling themes in the first half of the year. Operating profit for the privately held company increased 11%. The strong numbers come despite store closures in many cities.
The strong results are due to our incredible team,” says Niels B. Christiansen, CEO, The LEGO Group. “When COVID-19 closed stores and offices, our colleagues did everything they could to stay safe and bring play to children and families around the world. I would like to thank them for their extraordinary contribution and their continued fantastic efforts.”
Christiansen says that the company continues to see payoff from its long-term growth investments in e-commerce and product development. Additionally, families around the world were receptive to the company’s “Let’s Build Together” campaign. More than 80 unique users enjoyed branded content released as a part of the initiative. Visits to the LEGO website increased 100% with more than 100 million users visiting the site.
“We are very pleased to see the enduring appeal of the LEGO System in Play and strength of the LEGO brand,” adds Christiansen. “During the first half, we attracted new builders of all ages who turned to LEGO play to help them through difficult times. More families are playing and learning together with LEGO bricks and we are seeing more adults than ever before enjoying building our more challenging sets.”
LEGO has opened 46 stores so far this year, 30 of them in Mainland China. New themes such as LEGO Monkie Kid and LEGO Super Mario are already performing well.