While businesses are adapting to survive the corona virus crisis, the sales of Family-owned Lego has jumped 14 percent in the first six months of the year 2020 as families under corona virus lock down spent more time playing together at home.
Lego has returned to growth since 2017 when a decade of double-digit sales increases came to an abrupt halt.
Since then, the company has managed to outpace growth in the overall toy market, a trend that continued between January and June. Best known for its colourful plastic bricks, Lego competes for market share with the likes of Barbie maker Mattel and Hasbro.
Chief Executive Niels Christiansen said in an interview,
“We saw a very positive development during the corona virus lock down when families began playing and building Lego sets together,”
He further added that,
the company has seen momentum continue into the second half of the year even after people started going back to work and to school. So the result is not just a reflection of two months when everyone was sitting at home.
Last year, Lego increased investments in e-commerce and its brand website, which saw the number of visitors double to 100 million in the first six months of 2020.
Consumer sales grew 14 per cent in the period and the operating profit of Lego grew 11 per cent to 3.9 billion crowns.
The company was able to more than compensate for all its 616 shops worldwide being closed at some point during the pandemic by increasing online sales. With almost all shops finaly reopened,the company awaits more profits in the coming months of 2020.
