Lego sales rise 21% in first half on World Cup and Formula 1 demand

Copenhagen, Denmark. Lego said first-half sales rose 21 per cent as sets linked to the soccer World Cup and Formula 1 attracted new customers. Revenue reached 41.9 billion Danish crowns ($6.54 billion), while net profit increased 32 per cent to 8.6 billion Danish crowns.

Market share growth

The Danish toy company said it gained market share as its growth exceeded that of rivals including Mattel and Hasbro. Its strategy includes partnerships with film and entertainment franchises and a wider range of products for adult consumers.

Chief executive Niels Christiansen said Lego’s product portfolio had reached new consumer interests during the first half. He added that the company had increased both the number of children and consumers engaging with the brand, as well as their spending.

New product launches

Lego introduced more than 330 new sets during the first half. They included a $199.99 replica of the official Fifa World Cup trophy, Pokemon sets featuring its new interactive bricks, and K-Pop Demon Hunters sets.

Christiansen said the K-Pop Demon Hunters products were particularly popular with girls.

Materials and US expansion

Higher oil prices caused by the Iran war have increased the cost of plastics used in Lego bricks. Christiansen said the company could face an impact in the second half, although the effect had not yet been significant.

He said Lego had managed the higher prices relatively well because it purchases substantial amounts of non-fossil-fuel-based material, which is less linked to oil prices. The company is shifting towards renewable and recyclable materials for its bricks.

Lego is also building a factory and distribution centre in Virginia, United States, as it seeks to manufacture closer to its main markets. The facilities are expected to open by mid-2027.