Lego consumer sales jumped 21% in 2020, the result of a broader product range, e-commerce investments paying off and a surge of growth in China.
Lego said Wednesday that its consumer sales jumped 21% last year, the result of a broader product range, e-commerce investments paying off, and a surge of growth in China, along with people spending more time at home during the COVID-19 pandemic.
Due to the ongoing coronavirus crisis, Lego was forced to close manufacturing sites in Mexico and China and temporarily shutter some retail locations last year. It also saw its distribution costs rise as shipping became more expensive.
Nevertheless, the privately held Danish toymaker reported revenue for the year that topped 43.7 billion Danish krone, or about US$6.99 billion, up 13% compared with 2019.
The company’s biggest sellers ranged from classic Lego sets to popular themed products such as Nintendo’s Super Mario franchise and Disney’s Star Wars, according to CEO Niels Christiansen in an interview with CNBC.
“It is really a result of a tremendous effort by the entire organization, especially with all the things we’ve had to cope with throughout the year,” Christiansen told the network.
