Sales of Lego sets surged last year as more children stayed home during global pandemic lockdowns – and parents bought the colorful plastic brick toys to keep them entertained through days of isolation.
The privately-held Danish company said its net profit rose 19% to 9.9 billion kroner (£1.5 billion) as sales jumped 21% and it grew its presence in its 12 largest markets.
Lego, which on top of its sets also earns money from video game apps, seems to be one of the businesses – like online retailers and technology companies – that were well placed to earn money from the massive disruptions in society worldwide during the pandemic.
Lego, which is based in Billund, western Denmark, said it wanted to further speed up investment in digitalization. “The past year has shown the importance of having an agile, responsive business built on strong digital foundations,” Christiansen said. “I expect that 2021 will see sales increase.”
Lego was founded in 1932 by Ole Kirk Kristiansen and the name derived from the two Danish words LEg GOdt, which mean “Play Well” — the brand name was created without knowing that the word Lego in Latin means “I assemble.”
