Danish toy manufacturer Lego keeps on growing, as a deal with Marvel and its superheroes proves very profitable. Chinese expansion is in full swing too and the first Dutch store opens next month, but Indian customers will have to wait a bit longer.
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Danish toy producer Lego is to open its first two stores in the Netherlands, in Amsterdam and Utrecht. They will open later this year, but well in time for the holiday season, the company says.
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After a turnover decrease in 2017, Danish toy manufacturer Lego saw its turnover and its profit improve once more in 2018, thanks to a double-digit growth in China.
Is this the future of fashion boutiques: an empty store, with only a code that customers can scan with their smartphones to gain access to a virtual store in augmented reality? Lego Wear and Snapchat are experimenting with the concept.
Lego’s 2017 turnover slumped for the first time in thirteen years. The Danish toy manufacturer suffered both in North America and Europe, but the new CEO sees a silver lining.
Danish toy manufacturer Lego will cut 1,400 jobs following its first turnover drop in more than a decade. The jobs will be cut before the end of the year.
In this past year, Danish Lego Group achieved growth once more and has now, for the first time ever, become the world's largest toy manufacturer, surpassing Mattel.
Danish Lego Group appointed Bali Padda as its new CEO. Currently the company's COO, he will assume his new position on 1 January 2017, succeeding Jørgen Vig Knudstorp.
In the first half of 2016, Danish toy manufacturer Lego has had its profit drop because of major investments in China and Mexico. The company's turnover however, grew more than 10 %.
The German Federal Cartel Office has pressured Danish Lego into adjusting its discount system. Until now, online retailers often got lower discounts than physical stores.