In this additional interview with Reuters, Jørgen Vig Knudstorp explains how he is looking to Lego game 'Legends of Chima' and ongoing collaboration with leading movie makers around the world to spur growth. Cash flow from operating activities remained strong at DKK 9.8 billion, although it was 8 percent lower than the DKK 10.7 billion in 2017 due to changes in working capital in line with business momentum. It also installed one of Denmarkâs largest rooftop solar panel systems which will provide 50 percent of the energy requirements to its new Campus building in Billund. “Within 10 years, there will be 100 million kids in India living in middle-class families,” Christiansen told the FT. “They are strong into education and products like Lego are very high on the wish list. Each month we select an advertising campaign that’s been making waves in the industry and put it to the (At)test by surveying 250 UK consumers. It would, though, seek to combine physical and digital play to adapt to China’s advanced digitisation. What motivates our colleagues around the world is the role they can play, big and small, in helping more and more children around the world learn through play.â, For further information:LEGO Group Press OfficePh: +45 7950 4919media@LEGO.com. Lego is also thinking about other aspects of the company’s sustainability – it’s pledged to use sustainable materials in its products and packaging by 2030. Lego’s new brand growth strategy paid off – they returned to growth again in 2018, with profits and sales both increasing by 4%. The Chinese authorities have been supportive in helping to uphold the firm’s intellectual property – Lego has won cases against six copy-cat companies. We also grew market share in our largest markets around the world, bucking industry trends. According to CMO Julia Goldin, it’s been key to improving efficiency and effectiveness, not just in marketing but across the business as a whole. As Head of LEGO Retail, Claus Flyger Pejstrup, said: “Our LEGO stores are a great tool for building brand awareness and emotional connection with our fans.”.
It also underlines how vital it is to go after international expansion to secure long-term growth (alongside research to back up your plans). It’s always been a towering giant in the toy industry – but in the last couple of years, the company has had to radically rethink its brand growth strategy to compete with challengers in the space and digital offerings. The success comes despite issues with counterfeiting, where other manufacturers have tried to rip off Lego’s colourful blocks and branding. In China, the company will accelerate expansion and open 80 stores in 18 cities during 2019, starting with a new flagship store in Beijing which opened on February 22. “Lego products – the whole idea of creative play experiences – is something that resonates strongly with Chinese consumers.”. The business has never made an acquisition. Lego has been delighting kids (and bringing pain to grownups’ feet) for close to 90 years. “Store expansion should help secure sales growth. A positive impact on society and the planetDuring 2018, the LEGO Group continued to live by its Planet Promise and its aspiration to have a positive impact on the society and the world children will inherit. 214 High Street, The growth story of Lego is an organic one. Net profit was DKK 8.1 billion, an increase of 3.5 percent.Cash flow from operating activities remained strong at DKK 9.8 billion.Market share grew in all major markets, bucking overall industry trends. Lego’s new brand growth strategy paid off – they returned to growth again in 2018, with profits and sales both increasing by 4%. Opening its third-largest global factory (in the city of Jiaxing) positioned Lego to supply products not only for the Chinese market, but other Asian markets too, including Japan and South Korea. It focuses on using new product development and innovation as the driver of revenues and profits - to great success.
Another way Lego has restructured to be more agile is by bringing its creative agency in-house. Boston House, The problem, said the family-owned Danish company, was weaker demand in established markets such as the US and parts of Europe, where a saturation point had been reached. All students preparing for mock exams, other assessments and the summer exams for either AQA or Edexcel GCSE Business. “We began with shops in the major cities and are now looking to reach more children by establishing stores in more cities as we see increasing interest and demand for our products,” said Trangbaek. “We have added complexity into the organisation, which now makes it harder for us to grow further. We would rather do the investments upfront to be leading that change.”.