Unfortunately, that does not seem to be. The toy company said on Tuesday that it would cut 1, jobs after earnings showed its revenue and profit both fell in the first half of the year. The results come as Lego faces an increasingly competitive landscape. But its struggles mirror the challenges facing toymakers that are seeking new revenue streams as growth slows in traditionally lucrative markets. Lego on Tuesday reported a 3 percent decline in net profit for the first six months of the year compared with the same period infalling to 3. Revenue fell 5 percent to The company, which appointed a new chief executive in Augustsaid growth in countries like China had not been enough to balance the decline in sales from more established markets, like Europe. The cuts will be made by the end of the year, the company said.
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The LEGO Group has also built several amusement parks around the world, each known as Legoland , and operates numerous retail stores. The company was founded on 10 August by Ole Kirk Christiansen. Christiansen would become the new CEO, effective 1 October of the same year. The history of LEGO spans nearly years, beginning with the creation of small wooden playthings during the early 20th century. Manufacturing of plastic LEGO bricks began in Denmark in , but since has grown to include factories throughout the world. Below are historical images of the LEGO logo throughout the company’s existence. Since the expiry of the last standing LEGO patent in , a number of companies have produced interlocking bricks that are similar to LEGO brand bricks. A trial court found many Coko bricks to be infringing; Coko was ordered to cease manufacture of the infringing bricks, publish a formal apology in the Beijing Daily , and pay a small fee in damages to Interlego. On appeal, the Beijing High People’s Court upheld the trial court’s ruling. In , The LEGO Group won a lawsuit in Norway against the marketing group Biltema for its sale of Coko products, on the grounds that the company used product confusion for marketing purposes.
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Also in , a large shipment of LEGO-like products marketed under the name «Enlighten» was seized by Finland customs authorities. Their Chinese manufacturer failed to appear in court, and thus LEGO won a default action ordering the destruction of the shipment. LEGO Group footed the bill for the disposal of the 54, sets, citing a desire to avoid brand confusion and protect consumers from potentially inferior products. On 24 May , the Federal Court of Canada dismissed the case, asserting the design is functional and therefore ineligible for trademark protection. Because of fierce competition from copycat products, the company has always responded by being proactive in their patenting and has over United States—granted design patents to their name.
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Industry-specific and extensively researched technical data partially from exclusive partnerships. A paid subscription is required for full access. You need a Premium Account for unlimited access. Additional Information. Show source. Show sources information Show publisher information. Gross sales of Mattel toy manufacturer, by region worldwide As a Premium user you get access to the detailed source references and background information about this statistic. As a Premium user you get access to background information and details about the release of this statistic.
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Lego has reported its first drop in sales and profits in more than a decade as children ditch its plastic bricks for more modern toys. There is no quick fix and it will take some time to achieve longer-term growth. Christiansen was appointed in October, replacing year-old Briton Bali Padda, the first non-Dane to run the company. Padda served just eight months in the top job. Jorgen Vig Knudstorp, the Lego chairman and former chief executive, said the company had developed too many layers and overlapping functions, preventing it from realising its growth potential. Knudstorp, who was widely credited with rescuing Lego from its last crisis , was elevated from chief executive to chairman in , becoming the first non-family member to head Lego. Both Knudstorp and Christiansen are former McKinsey consultants. Lego is controlled by the billionaire Kirk Kristiansen family, descendants of founder Ole Kirk Christiansen, a master carpenter who made the first Lego toy — a wooden duck. Lego said part of the collapse in profits was due to the company producing too many of its colourful bricks, which it was forced to sell off cheaply to make room in its warehouses. A spokeswoman told the BBC that Lego had too much stock in shops and stores, which made it hard to get new products in front of consumers. Sign up to the daily Business Today email or follow Guardian Business on Twitter at BusinessDesk Lego is controlled by the billionaire Kirk Kristiansen family, descendants of founder Ole Kirk Christiansen, a master carpenter who made the first Lego toy — a wooden duck. Topics Lego. Toys Retail industry Denmark Europe news. Reuse this content.
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RC models are available in the U. Quality and safety are the top concerns for the Lego Group. I have organized all your questions in groups: about the company, environment, design, trivia, crazy questions, and the future. His son Godtfred began marketing the distinctive little blocks not just as toys, but as a building system that could be expanded and passed on to later generations. Why there are no blondes in Lego sets? Do they recycle them? Why there are extra pieces sometimes? Fired Cowboys coach reportedly lands a new job. Currently, Lego mostly uses a substance known as ABS, short for acrylonitrile butadiene styrene, a common plastic also used for computer keys and mobile phone cases. We have created models of famous landmarks, like the Statue of Liberty and the Eiffel Tower, and we have an Education division that is always coming up with new ideas. It is also pushing for the plastic in its toys to come from sources like plant fibers or recycled bottles by Grammys CEO threatens to ‘expose’ academy.
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A short walk away in its research lab, though, Lego is trying to refashion the product it is best known for: It wants to eliminate its dependence on petroleum-based plastics, and build its toys entirely from plant-based or recycled materials by In we introduced the Lego Power Function system, which allows models to come to life using motors and sensors without the programming feature of Mindstorms. How many bricks have been produced in history? The space theme is an evergreen theme for us. You can just download music for free online and as for movies, there is Netflix. In our own play themes, some element of good vs. We understand that it can be frustrating sometimes, and encourage anyone with questions to contact our Consumer Services department. Since that time, we have had very few questions from consumers.
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Do you want to know how many bricks are produced per minute? How many bricks have been produced in history? What’s the best-selling set ever? What has been the worst? Do they mak How did they survive the crisis that almost killed them? How successful is Mindstorms? What are the actual names of each of the pieces? Why there are no blondes in Lego sets? Why there are extra pieces sometimes? Here’s the definitive mega-reference, straight from Lego. I have organized all your questions in groups: about the company, environment, design, trivia, crazy questions, and the future.
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