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Lego builds sales to tower toy rivals

Thursday, February 27, 2014 - 02:49

Feb. 27 - It's 82 years old but still sells like hot cakes. 10 Lego sets are sold every second and now the movie is pulling in cinema crowds too. As the Danish firm releases its latest results Hayley Platt looks at the Lego phenomenon.

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Duncan Titmarsh used to build kitchens - now he makes a living building Lego - his latest construction, a Saber Tooth Tiger. It's made of 160,000 bricks, took over 300 hours to complete and is part of Milestones museum exhibition in southern England. SOUNDBITE: Duncan Titmarsh, founder of BrightBricks, saying (English): "We build models from there branded bricks so we put out into the public domain models and sculptures people don't usually see lego building and we build to a commission basis as well so we can build someone's product out of leg bricks." Duncan's company Bright Bricks is just one of 12 in the world certified to build professional Lego models. And there are many firms dealing in Lego who aren't certified. Minifigs.me customises Lego people. For 25 pounds a couple in northern England will make a Lego version of anyone you like. Unusually Lego turns a blind eye. The group's CEO is Jorgen Vig Knudstorp. SOUNDBITE: Jorgen Vig Knudstorp, CEO, Lego, saying (English): "I think it's fantastic because it shows that LEGO is part of almost an ecosystem where we're complimentary to each other. They're doing stuff with the product and brand that I find incredible." It's a good strategy says Brand Finance's David Haigh SOUNDBITE: David Haigh, CEO, Brand Finance, saying (English): "The fact that they want to use Lego to try to make a bit of a living for themselves is fine. And actually if you look at products like Ferrari and Rolex there's a big trade in second hand and used products, everyone wants to be associated with a great brand." LEGO was founded 82 years ago. Its success in recent years has been phenomenal. It now sells 10 lego sets every second and has just reported a 11 per cent jump in sales with net income up 9%. It's also quadrupled its revenue over the past decade. Over the years approximately 650 billion LEGO pieces have been produced. Laid end to end they would stretch around the world 18 times It's also one of the world's largest tyre manufacturers And now there's LEGO the movie. It's been topping cinema box offices, taking more than $31 million dollars in just one weekend in the US and Canada. SOUNDBITE: Jorgen Vig Knudstorp, CEO, Lego, saying (English): "We knew it would be a big thing because it's the first time ever but we are so pleasantly surprised to see how well it has been received because you see I think it's also a very original script and sometimes when you bring out something that is like that it becomes a little bit more unpredictable how it will be received by its audience worldwide." With the technical advances LEGO has made it's now an adult toy too. David Beckham and Brad Pitt - just two celebrities said to be fans.

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Lego builds sales to tower toy rivals

Thursday, February 27, 2014 - 02:49