Reuters - Video

Edition: US | UK | IN | CN | JP

Finance Videos

Lego feels the Force

Tuesday, March 01, 2016 - 01:32

Lego, the world's biggest toymaker, has reported double-digit percentage growth in both sales and profit for 2015. And, as Sara Hemrajani reports, the Danish company says it's confident it can continue to expand in North America, Europe and China, despite global economic slowdown concerns.

▲ Hide Transcript

View Transcript

"Star Wars" mania has helped Lego deliver stellar results. Annual profit at the Danish toy giant has jumped nearly a third to $1.3 billion. And while many worry about a global slowdown, Lego seems to be defying the doom and gloom. Its CEO says the company is still gaining market share in all its regions. SOUNDBITE: Jorgen Vig Knudstorp, Lego CEO, saying (English): "We're experiencing still a very strong organic growth in well-established markets, such as North America and Europe. But we're certainly also continuing to grow in Russia, we're growing very strongly in Japan, but especially in China. And we're looking at other emerging markets as very attractive growth opportunities." Soaring demand is prompting Lego to invest hundreds of millions of dollars in production facilities. The company is also looking east, opening its first factory in China next year, which will make most Lego toys for Asia in the future. SOUNDBITE: Jorgen Vig Knudstorp, Lego CEO, saying (English): "We're very optimistic about the outlook for China, even at a growth rate of maybe three or four percent, it remains a highly attractive economy for us and we think that over the next 10 years, China will become ever more important in the global mix of markets that we are addressing worldwide." Lego estimates it sold more than 72 billion plastic pieces in 2015 - bucking the toy industry's trend of declines as children increasingly turn to digital platforms.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Lego feels the Force

Tuesday, March 01, 2016 - 01:32