The LEGO Group

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wikicollecting

2015-06-26 10:52:24

The LEGO Group is the world’s fifth-largest manufacturer of toys, in terms of sales. The company is best known for its iconic toy building bricks.

The recent times, the brand has expanded into software including video games and the Legoland Theme Park.

 

Founding and history

The company was founded in 1932 by Ole Kirk Kristiansen. It has passed from father to son and is now owned by Kjeld Kirk Kristiansen, a grandchild of the founder.

Over around 80 years, the business has evolved from a small carpenter’s workshop to a modern, global enterprise that is now the world’s fifth-largest toy manufacturer.

Origin of the name ‘LEGO’

The name 'LEGO' is an abbreviation of the two Danish words "leg godt", meaning "play well". According to LEGO’s website: “It’s our name and it’s our ideal.”

Mission, vision and values

‘Inspire and develop the builders of tomorrow’

The company describes its ultimate purpose as being to inspire and develop children to think creatively, reason systematically and release their potential to shape their own future – “experiencing the endless human possibility.”

‘Inventing the future of play’

LEGO’s mission statement includes pioneering new ways of playing, play materials and the business models of play - leveraging globalisation and digitalisation – “it is not just about products, it is about realising the human possibility.”

LEGO brand values

These are listed as follows:

  • Imagination
  • Creativity
  • Fun
  • Learning
  • Caring
  • Quality

The LEGO Brick

LEGO describes the brick as “our most important product”. Says its website:

This is why we are proud to have been named twice – “Toy of the Century”. Our products have undergone extensive development over the years – but the foundation remains the traditional LEGO brick.

The brick in its present form was launched in 1958. The interlocking principle with its tubes makes it unique to this day, offering a range of building possibilities.

According to LEGO’s own description: it’s just a matter of getting the imagination going – and letting a wealth of creative ideas emerge through play.

Future goals

The LEGO Group has seen continued growth over the previous five years, and sales have increased by double-digit growth rates in the last few years. On this basis, seven growth goals have been defined by the company:

  • Increase market share in USA
  • Increase market share in Eastern Europe
  • Invest in emerging markets
  • Develop innovative new products
  • Expand “direct to consumer” activities

Expand LEGO Education

The company’s aim is to create growth in the area of educational materials for preschools, schools and educational institutions all over the world.

Expand electronic activities

The LEGO Group currently operates on electronic platforms through the www.LEGO.com website and video games.

According to LEGO’s website, its electronic presence will be further expanded, in particular through LEGO Universe – the first MMOG (massively multiplayer online game) from the LEGO Group, which was launched in the second half of 2010.

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