Lego is a toy production company from Denmark, which is based in Billund. The company is best known for its manufacture of Lego-brand toys, which consists mostly of interlocking bricks that are made of plastic. The company whose trade name is “The Lego Group” has also built several amusement parks all over the world, which are known as Legoland. The company also operates several retail stores.
The Lego Company was founded on August 10, 1932, and the person who founded it is Ole Kirk Christiansen. The name of the company Lego was derived from the Danish word “leg godt,” which in English means “playing well.” In 2015 The Lego Group became the world’s number one toy company by revenue, and it had total sales amounting to $2.1 billion. In October 2017, Niels B. Christiansen was appointed the new CEO of The Lego Group.
Inception
The company has been in existence for nearly 100 years, and it began with creating small wooden playthings in the early 20th century, and although it did not become famous at first, it gradually grew. They started manufacturing plastic Lego bricks in Denmark in 1947. From then on, the company had grown to include other parts of the world. The company was managed by Samsonite from 1961. It was established in the United States in 1972, and in Canada, it was established in 1986.
Lego Produktion AG was initially a major production facility for Lego, and it was founded in Switzerland in 1974. The production facility was closed in 2001 at the time of its closure, 30% of the company’s production was produced at a Swiss facility in Baar. The Baar facility also closed in 2004.
The Lego Group started producing miniature tires in April 1962, and it became the largest tire manufacturing company after a few decades. In 2011 the company had produced more than 382 million tires, and it led in production that year.
Evolution
The Lego Group has built several amusement parks around the world, and they are each known as Legoland. These amusement parks have large-scale Lego models, which are of famous landmarks. They also feature miniature Lego models of cities with rides that are Lego-themed. The very first amusement park was built in Billund, Denmark. Thus was followed by Legoland Windsor London, Legoland California, and Legoland Deutschland, Germany.
The Lego Group reached a deal to sell the four amusement parks to Merlin Entertainment for a price of 375 million pounds. The Lego Group was to take 30% shares in Merlin Entertainments and also a position on the board of directors. Merlin Entertainment opened the first Legoland water park in 2010 at the California site. The first Legoland Park that Merlin Entertainments opened was opened in October 2011 in Florida, and it became the largest Legoland to date.
The first Legoland to be opened in Asia was opened in Nusajaya, Malaysia, on 22 September 2012. This was followed by another Lego-themed water park in the same area. It was also around the same site as the Legoland Park Nusajaya, where a Lego hotel was opened. Other amusement parks that have been opened include Legoland Dubai, Legoland Korea, and Legoland Nagoya. They have also opened four Legoland Discovery Centres, and these take the concept of Legoland and scale it to a retail park environment.
The Lego Group has more than 138 stores worldwide. Eighty-three of those are in the United States and 14 in the United Kingdom. Other places where the company operates are Germany, France, Canada, Spain, Australia, India, China, Mexico, Denmark, and Sweden, among other places.
In 1996 the group founded Lego Media with its headquarters in London, England. This was a publishing division that was involved in video game publishing. The company also operated a motion picture division, and it produced the children series called Little Robots.
Awards & Achievements
Lego has been manufacturing toys since 1932, and during that time, the company has won several awards. These include several Toy of the Year (TOTY) Awards like Collectible of the Year, Specialty Toy of the Year, Playset of the Year, and the Construction Toy of the Year, all of which were won in various years for a long period of time.
In 1998 Lego was inducted into the National Toy Hall of Fame. Together with winning all these accolades, the biggest achievement of The Lego Group can be termed as manufacturing toys and being operational all over the world. The group is operational in more than 138 stores in different countries.
Net Worth of Lego in 2024
As of April 2024, The estimated net worth of Lego is to be $40 billion. As of 2020, the company has an operating income of $10.8 billion. The revenue of the company comes from the sales of their products, which they have done for almost 87 years. The company also has several amusement parks called Legoland, which are situated all over the world. The toy company has won several awards and nominations, and they have stores worldwide.
Lego is a Danish toy manufacturing company that is operational worldwide. It was founded in 1932, and over the years they have manufactured millions and millions of toys for children globally. The company also has several amusement parks in various countries that offer enough entertainment not only for children but also for adults.