Lego Reports Record First‑Half Revenue, CEO Highlights Strong Sales Across Price Segments

A customer reaches for a box from the Lego Dots range at a Lego store in London, March 7, 2022.

Bloomberg | Getty Images

Lego delivered a robust performance in the first half of the year, with revenue climbing 21% and operating profit up 22% year‑over‑year. The Danish toy maker posted record revenues of 41.9 billion Danish kroner (≈ $6.54 billion) and operating profit of 10.9 billion kroner (≈ $1.7 billion) in its biannual earnings release on Tuesday.

The growth was driven by established lines such as botanical collections, Formula 1 racers and collectible sets, as well as new offerings that broaden the brand’s appeal. Lego introduced 332 new sets in the first six months—a record number—while continuing to produce legacy designs.

This year’s product expansions include the Smart Play platform, which adds motion‑sensing, sound and lighting to brick sets, and a long‑awaited partnership with Pokémon. The company has also deepened its sports collaborations with Formula 1 and FIFA. Digital initiatives, such as the alliance with Epic Games that integrates Fortnite elements into physical Lego products, are helping to attract fresh customers.

“New partnerships bring in consumers whose passion points were not previously well represented in the Lego brand,” CEO Niels Christiansen told CNBC. “We are recruiting new users while also retaining existing ones and selling more to them.”

The dual‑pricing strategy—exemplified by a $30 Star Wars N‑1 Starfighter kit for younger builders and a $250, nearly‑2,000‑piece variant—continues to resonate across both entry‑level and premium markets, even amid broader economic uncertainty. This approach enables Lego to appeal to kids, adults and a broad gender spectrum.

“We are growing fast with kids now, and we are also expanding with adults,” Christiansen added. “Being able to master both ends and cover the whole consumer universe—not just a segment—has been crucial for our success.”

Source link