Lego reported a 13% revenue increase to $4.6 billion in the first half of 2024, significantly outperforming the 1% decline in overall toy industry sales.
Lego appeals not just to children but also to adult consumers, or 'kidults', with product lines like Lego Icons, featuring impressive landmarks and pop culture favorites.
The Danish family-owned Lego has strategically expanded into various entertainment ventures and partnerships, creating a diversified portfolio that has helped buffer against inflation.
Unlike competitors like Mattel and Hasbro, Lego has doubled its revenue in the last decade, effectively achieving sustained growth in a declining toy market.
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