Lego is reinventing its iconic brick sets and keeping the toy industry afloat [MSNBC.com]
Walt Disney Company (The) (DIS)
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Source: MSNBC.com
The toy industry is headed for its second consecutive annual sales decline, but it’s got one thing propping it up: colorful, interlocking plastic bricks.At a time when toy companies are struggling to match the massive gains of pandemic-era sales, Lego is growing rapidly. The Danish company sawrevenue jump 13% in the first six months of the year“When you look at toy sales, Lego has just been driving all the growth in the industry this year,” said Eric Handler, managing director at Roth MKM.After coming tothe brink of bankruptcy in the early 2000sLego has posted positive annual revenue growth in each of the past six years.Its strategy has involved delving into the world of licensing, catering to adults as well as kids, tapping into the digital gaming world, partnering with studios and streamers to bring Lego content to consumers and building manufacturing sites close to distribution hubs to smooth the supply chain.Recent standouts among its tried-and-true portfolio are newly emphasized
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- 11/14/24 - Beat
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- 12/20/24 - Form 4
- 12/18/24 - Form 4
- 12/17/24 - Form 144
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