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The Lego Group (also known as Lego System A/S or formally Lego A/S) [5] is a Danish construction toy production company based in Billund, Denmark. [6] It manufactures Lego -branded toys, consisting mostly of interlocking plastic bricks.
Lego (/ ˈ l ɛ ɡ oʊ / ⓘ, LEG-oh; Danish:; [1] stylised as LEGO) is a line of plastic construction toys manufactured by the Lego Group, a privately held company based in Billund, Denmark. Lego consists of variously coloured interlocking plastic bricks made of acrylonitrile butadiene styrene (ABS) that accompany an array of gears , figurines ...
Godtfred decided that the plastic line was strong enough by this time to abandon the production of wooden toys. As a result, Godtfred's brothers Gerhardt (then head of wooden toys) and Karl Georg left the Lego company and began a separate company called "Bilofix." By the end of the year, the Lego Group was employing more than 500 people. [15]
The turnaround is apparent in the company's financials: Lego Group's revenue in 2023 was $9.65 billion, up about 74% from five years earlier, according to Dow Jones data.
In 2020, Lego launched its adult-focussed category. Adults also introduce kids to Lego, making them a critical group to the Danish toymaker's growth.
Ole Kirk Christiansen (born Ole Kirk Kristiansen; [a] 7 April 1891 – 11 March 1958) was a Danish carpenter. In 1932, he founded the construction toy company Lego, later known as The Lego Group.
The authors attribute the company's rescue to the efforts of new CEO, Jørgen Vig Knudstorp, who cut costs (by, among others, reducing the number of bricks produced), engaged with the Lego fandom community, and refocused the company's efforts on its core business (design and marketing of interlocking plastic bricks) rather than side activities ...
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