Lego sales rose as customers bought bigger, more complicated sets such as those from the Harry Potter and Star Wars lines.
Lego's revenue jumped 17% in 2022, reaching 64.6 billion Danish krone, or about $9.28 billion.
A customer reaches for a box from the Lego Dots range at the Lego A/S store in London, U.K., on Monday, March 7, 2022.Lego sales are building on pandemic-era growth, boosted by a diverse slate of products that cater to kids and adults alike. Lego has offset some of those shipping costs by placing manufacturing plants near key markets. For example, the U.S. currently gets its product from a factory in Mexico. That supply chain will shorten in the next two years as Lego opens a new plant in Virginia.
Net profit for the full year reached 13.7 billion Danish krone, or about $2 billion, up around 4% from 2021. Christiansen also noted that Lego worked to diversify its price points, as inflation and uncertainty negatively affected consumers over the past year. He said the company looked for ways to offer a wide swath of sets for all budgets.
Employees are also trained not to upsell guests, but rather to give them an experience. The strategy is based on a belief that customers will leave feeling positive about the brand — an impression that will be uppermost in their mind when they are looking to make future toy purchases.
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