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Lego income jumped 27% in 2021, as youngsters and adults proceed to construct

A buyer reaches for a field from the Lego Dots vary on the Lego A/S retailer in London, U.Okay., on Monday, March 7, 2022.

Bloomberg | Getty Photos

Gross sales of Lego constructing kits continued to soar in 2021, as youngsters and adults stayed dwelling to construct “Star Wars” and “Harry Potter” fashions lengthy after the coronavirus lockdown ended.

On Tuesday, the privately held Danish toymaker mentioned its annual income jumped 27%, reaching $55.3 Danish krone, or about $8.06 billion, up from $43.7 Danish krone, or round $6.36 billion in 2020.

Lego was one of many toy corporations that saw massive gains during the pandemic, as customers of all ages gravitated towards its constructing units for leisure. The corporate touted its various collection of toys and their enchantment throughout generations, in addition to its e-commerce enterprise to account for the gross sales surge.

The toymaker’s high performing manufacturers included Lego Metropolis, Lego Technic, Lego Creator Skilled, Lego Harry Potter and Lego Star Wars. These kits vary in dimension and issue, with the corporate saying the themes make it enjoyable for youngsters to study constructing abilities whereas offering a artistic outlet for adults.

Lego famous that because it enters its ninetieth 12 months, it expects its progress charges to normalize and transition again to single-digit progress. Additionally in mid-2022, the corporate plans to start phasing in sustainable gross sales packaging to exchange single-use plastic luggage it makes use of to separate Lego bricks.

Throughout 2021, Lego opened 165 new shops, together with 95 in China, bringing its whole international retailer depend to 832. China has grow to be one among Lego’s high markets and accounts for 340 shops in its international retail footprint.

Lego’s robust earnings outcomes comes because it has determined to cease delivering toys to round 80 independently owned shops in Russia in response to the warfare in Ukraine. The corporate has additionally donated round $16.5 million to emergency aid efforts, with a concentrate on offering assist for youngsters and households.

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