Despise a slow start in 2013 in the North America and European markets, The LEGO Group has still managed to become the world’s #2 toymaker beating out Hasbro. The Danish toy company had sales jump 13 percent in the first-half of 2013 with the strongest growth in the Asian markets. Their revenue rose to 10.4 billion kroner in the first six months of 2013 from 9.13 billion kroner in the same time period as last year. The revenue which is equivalent to $1.84 billion beat out Hasbro Inc. which had reported sales of $1.43 billion.
The increase in revenue was due to increased sales in the LEGO Legends of Chima line as well as the LEGO Friends line and Chief Executive Officer Joergen Vig Knudstorp says the Friends sets were the “most significant” new product in a decade. While the Legends of Chima line has become LEGO’s fastest growing products, sales of the Friends sets were “significantly higher” than the company average as well. The company expects both of these lines to continue growing with more sets being released for Legends of Chima and Friends in 2014.
LEGO has also boosted its global market share from 8.6 percent from the end of 2012 to 8.8 percent in the first half of this year. Mattel Inc. is still the world’s largest toymaker which had a revenue of $2.16 billion in the first half of 2013 but in terms of profit, The LEGO Group’s net income rose 18 perfect in the first six months of 2013 to 2.48 billion kroner which makes them having a bigger profit than Mattel and Hasbro.
With LEGO releasing more and more sets that many fans like, it’s not a surprise that the company has become one of the world’s largest toymakers. They have continued to produce high quality products with mass appeal with kids as well as the in adult community and I don’t see any slowing any time soon.