COPENHAGEN, Denmark (AP) — Sales of Lego devices surged remaining year as extra children stayed home during international pandemic lockdowns – and oldsters purchased the shiny plastic brick toys to sustain them entertained thru days of isolation.
The privately-held Danish company acknowledged its win revenue rose 19% to 9.9 billion kroner ($1.6 billion) as sales jumped 21% and it grew its presence in its 12 greatest markets.
Lego, which on high of its devices additionally earns money from video game apps, seems to be to be one in every of the businesses – take care of online outlets and expertise companies – that had been effectively placed to design money from the broad disruptions in society worldwide during the pandemic.
Chief Government Niels B. Christiansen informed The Associated Press that the “orderly sturdy outcomes” had been resulting from strategic investments made years in the past to transfer extra sales online.
“Right here’s no longer COVID-linked. This used to be an evolution that started a whereas in the past,” he acknowledged. “In 2020, we began to glimpse the benefits of these, especially in e-commerce and product innovation.”
He declined to issue inform how worthy of the company sales had been online but famed that there had been 250 million clicks on the team’s online page.
Person sales grew by double digits in all areas, with especially sturdy whine in China, the Americas, Western Europe and Asia Pacific.
The frenzy to online sales helped offset disruption to business from the pandemic restrictions.
“We had factories that had been forcefully shut down and outlets closed … some luxuriate in reopened, others are aloof closed,” Christiansen acknowledged. The enforced closure of manufacturing sites had been mainly in Mexico and China.
“We had several times to maintain back toys because movie releases had been postponed. It used to be frustrating for us,” Christiansen acknowledged.
Lego, which is predicated in Billund, western Denmark, acknowledged it desired to additional lumber up investment in digitalization. “The previous year has shown the importance of having an agile, responsive business built on sturdy digital foundations,” Christiansen acknowledged. “I quiz that 2021 will glimpse sales increase.”
Lego used to be based in 1932 by Ole Kirk Kristiansen and the name derived from the 2 Danish phrases LEg GOdt, which mean “Play Effectively” — the trace name used to be created with out knowing that the phrase Lego in Latin formula “I assemble.” EMBARGOED TIL WEDNESDAY MARCH 10 0800 GMT