Lego Sales Surge Amid Stagnant Toy Market

Lego has reported a robust 13% increase in sales during the first half of 2024, totaling 31 billion Danish crowns ($4.65 billion), significantly outperforming a stagnating global toy market. The company's success is attributed to strong demand in Europe and North America, contrasting sharply with competitors like Mattel and Hasbro, which have seen tepid sales. Operating profit surged by 26% to 8.1 billion crowns ($1.2 billion), prompting CEO Niels Christiansen to anticipate double-digit growth for the remainder of the year. Lego's diverse product lineup, including popular themes such as Icons, City, Technic, and Star Wars, played a crucial role in this performance, with around 300 new sets launched in the first half. Although the company plans to open approximately 100 new stores this year, a slight reduction from previous years, its focus is shifting toward markets with stronger consumer demand. This growth follows a challenging period for the toy industry, which saw a 7% decline in sales last year, underscoring Lego's ability to capture market share effectively.