World-famous Danish toy brand enjoyed strong performance of all products lines for 2014, with a highly satisfactory annual result for the LEGO Group with sales increasing to 28.6 billion DKK.
Outperforming the global toy market development, all LEGO Group market regions experienced double digit sales growth while the traditional toy market in most countries grew by low single digit rates.
Strong performance of product lines, such as LEGO® City, LEGO Creator as well as THE LEGO® MOVIE™ products contributed to sales growth in all regions of the world
“In 2014 we increased our sales by 15 percent. I am proud that we delivered high quality creative play experiences to millions of children all over the world. This resulted in a highly satisfactory result for us, and it remains our aspiration to be the best at what we do,” said Jørgen Vig Knudstorp, President and CEO of the LEGO Group.
Revenue increased by 13% in DKK to DKK 28.6 billion against DKK 25.3 billion the year before
The brand’s sales in China grew with double digit growth rates.
“Our ability to innovate and reinvent the LEGO play experience every year is vital for our success. We are dedicated to create new products that are fun and appealing to children all over the world. Through our products we provide children with a tool to express their imagination. At the same time we continuously want to deliver play experiences that are safe and of the highest quality, and we have impeccable safety and quality standards. 2014 was our 5th consecutive year without a product recall which remains our ambition level for 2015,” said the CEO and added: “Looking at the products we have developed for 2015 I feel confident that we will bring joy to even more children in the coming year.”
As a consequence of the LEGO Group’s ambition to globalise its activities, an increased focus has been placed on attracting a more diverse, global workforce. During 2014 two main offices were opened, one those in Shanghai, the other in London to supplement the main offices in Singapore and Enfield, US, and the headquarters in Billund, Denmark. All of these five locations are to have significant top management presence.
In addition to setting up main offices, the LEGO Group significantly increased already extensive investments globally to re-enforce the company’s commitment to expand its market presence, and consumer experiences in the future.
In April the foundation stone of a manufacturing facility in Jiaxing, China, to solely supply the Asian market was revealed. Construction is ongoing and the plant is expected to commence operation in 2015 and be fully operational by 2017.
Based on the world-famous LEGO® brick, the company today provides toys, experiences and teaching materials for children in more than 130 countries.