Building Blocks of Success: Lego's Global Expansion and Sales Growth

Lego's sales soared in 2024 as the company gained market share with new products and strategic partnerships, appealing to a wider audience. The popular Lego Botanicals sets attracted more teenage girls and women, contributing to a 13% revenue increase. Global expansion plans include new factories and numerous store openings.

Lego has reported a surge in sales for 2024, with its colorful plastic brick sets capturing a larger share of the market. The toymaker has successfully broadened its appeal by launching new product lines, including the Lego Botanicals sets, which have resonated particularly well with teenage girls and women.

CEO Niels Christiansen highlighted the increasing popularity of the brand, especially in the U.S., further enhancing Lego's growth. The company's revenue increased by 13% to 74.3 billion Danish crowns, with operating profit climbing 10%, even as the overall toy market saw a decline.

Lego is set to expand its retail and production capabilities globally, planning to open 85 stores this year. New factories in Virginia and Vietnam, along with expansions in Mexico, China, and Hungary, are part of Lego's strategy to bring production closer to its consumers, ensuring sustainable growth.

(With inputs from agencies.)