Everything is awesome for LEGO after a bumper 2014, but the firm is eyeing up more global opportunities moving forward.
LEGO CEO Jørgen Von Knudstorp told ToyNews that in order to improve the firm’s presence in markets like Asia and Africa, the organisation needs to diversify.
“Today, if you go to Asia or Africa, you’ll struggle to find a lot of LEGO because the market is not there,” said Knudstop.
“Part of that is because the propensity to buy, the wealth necessary to buy, is not there.
“Also, I don’t get these markets. I get Russia, I get the UK, I know how to succeed in the US. I’ve lived in these countries. I need to build an organisation that’s more diverse, more international and more global.”
Key to this strategy was the opening of the company’s new London hub back in December, the firm’s fifth main office worldwide, with others in Shanghai, Singapore, Connecticut and Billund.
“We opened the London office last year to establish a global team, not just a British team, coming from all kinds of backgrounds,” continued Knudstorp.
“It’s an opportunity for LEGO but if we don’t succeed with that, it’s also a threat because it means we don’t fulfil our potential.”
Knudstorp is also hoping that this year matches the success that LEGO enjoyed back in 2014 thanks to new sets, successful licensing deals and the all round boost that the firm enjoyed as a result of The LEGO Movie.
“It was the tenth consecutive year of pure organic growth so it’s not just something that happened in 2014,” said Kundstorp.
“We are continuing to go from strength to strength and that is due to our ability to constantly innovate and stay focused on the LEGO brick, which is still a unique material that fascinates children all over the world.
“What’s interesting is that just buying loose bricks in a bucket is more popular than ever, as are the LEGO Creator and LEGO Technic sets. With themes, we are elevating the classic LEGO experience. The LEGO Movie did a fantastic job of that. We also have good partners. The video games are doing really well and the LEGOLAND theme parks are on an ever-expanding strategy.”