These days. it’s rare that you hear of a retail success story…
And it’s even rarer when this success story includes physical store sales and not just internet sales.
This year, as the company celebrates its 90th anniversary, Lego is dominating the toy industry as it follows its mission to “be a global force for learning through play.”
Lego reported that 2021 sales came in at over $8 billion.
Amazingly Lego opened 165 stores last year and is in the middle of expansion in China.
Even as the world was in the throes of COVID-19, consumer sales jumped 21% in 2020, easily outpacing the industry’s growth.
But it wasn’t always plan sailing for Lego, back in the 90’s they lost their way, until they changed strategy and buddied up with some major movie franchises. Most notedly, Star Wars.
Following this they’ve moved deeper into the IP world leveraging pop culture, which has positioned it as a brand for adults as well as kids.
The 90’s though were a tough time for Lego, maybe they got complacent or just couldn’t work out a new winning strategy, until the movie hook up came about.
Back in 2015 we were a bit like Lego, stuck in a reclining business model, and not really knowing what to do about it.
It took the help of friend, a wonderful team, guts, and pig-headed perseverance to develop a winning strategy for the business, which we are still progressing and delivering against today.
…you can read about it at: https://mytotalofficesolutions.co.uk/How-a-greek-goddess-saved-our-business.pdf