LEGO sees revenue grow 7% in first six months of 2020
The LEGO Group has seen revenue for the first half of 2020 grow 7% to DKK 15.7 billion compared with the same period in 2019.
Consumer sales grew 14 percent compared with 1H 2019 and the brand’s global market share increased.
“The strong results are due to our incredible team,” said The LEGO Group CEO, Niels B. Christiansen.
“When COVID-19 closed stores and offices, our colleagues did everything they could to stay safe and bring play to children and families around the world. I would like to thank them for their extraordinary contribution and their continued fantastic efforts.
“During the first half, we saw the benefits of our investments in long-term growth initiatives such as e-commerce and product innovation. Our strong portfolio appealed to builders of all ages and our recently upgraded e-commerce platform and agile global supply chain allowed us to fulfil online demand. We also collaborated closely with our retail partners to ensure they could continue to supply their shoppers online.”
Across the portfolio, the top-performing themes, in no particular order, were LEGO Technic, LEGO Star Wars, LEGO Classic, LEGO Disney Princess, LEGO Harry Potter and LEGO Speed Champions.
There was a significant increase in engagement in the company’s digital play experiences. In the first six months, downloads of LEGO digital building instructions doubled to two million and every two seconds a piece of content was shared on LEGO Life, a safe digital play app, which has more than 9 million users in 80 countries.
Visitors to the LEGO.com e-commerce platform doubled to more than 100 million in the first half of 2020, compared with the same period a year ago. The company also plans to continue creating unique physical brand experiences for shoppers and is on track to open around 120 new retail stores in 2020, 80 of those in China. During the first half, it opened 46 retail stores, 30 of those in China.
Christiansen added: “While retail has been transformed during the past six months, we continue to see great opportunity for an omnichannel model. We will continue to invest in upgrading our e-commerce capabilities to support both our retail partners and own platform and continue to invest in creating fantastic physical brand experiences for shoppers and fans.”
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