Lego is reinventing its iconic brick sets and keeping the toy industry afloat
Colorful, interlocking plastic bricks are the only thing keeping the toy sector afloat as its yearly sales are on the verge of declining for the second year in a row.
Lego is expanding quickly at a time when toy companies are finding it difficult to match the enormous increases of pandemic-era sales. In the first half of the year, the Danish company's revenue increased by 13%, and it is still gaining market share.
According to Eric Handler, managing director at Roth MKM, Lego has been the primary driver of the industry's growth this year when it comes to toy sales.
Lego has restructured its operations and broadened its clientele since nearly going bankrupt in the early 2000s, which has helped it increase sales despite inflationary market conditions.
Over the last six years, Lego has shown ...