"The LEGO Group increases its market share"
LEGO has just published its Annual Report for 2010; you can read the full Press Release here.
Some of the highlights are:
- In a global toy market making a slow recovery the company succeeded once again in capturing market shares and is now the world’s fourth largest toy manufacturer. Its global market share rose from 4.8% at the close of 2009 to approx. 5.9% at end 2010.
- The result is extremely satisfactory and is due in part to vigorous growth in markets such as the USA, UK, Russia and Eastern Europe, all identified as growth markets for the company,” says CEO Jørgen Vig Knudstorp.
- The Group has been capturing market shares in all its markets, and although Europe is the part of the world in which consumers already own most LEGO® bricks, growth has been double digit in most European countries, too.
- Classic ranges such as LEGO City, LEGO DUPLO® and LEGO Star Wars™ were especially popular with consumers in 2010 but virtually all product lines sold more than expected.
- The new online game LEGO Universe, which reached the market towards the end of 2010, did not live up to its initial sales expectations and had only a limited effect on revenue.
- During 2010 the LEGO Group continued the process of recent years of expanding its production and warehousing capacity. A new warehouse was built at the factory in Kladno, Czech Republic, and a new moulding shop is under construction at the factory in Monterrey, Mexico. ...
- To meet the needs of increased production and rising sales, the LEGO Group has increased its workforce to an average of 8,365 full time employees. This is a sharp increase of 1,079 full time employees compared with 2009.
- In 2011 a modest growth is expected in the global market for traditional toys, and the LEGO Group also expects sales to increase during the year – although not at the rate enjoyed in 2010.
- Jørgen Vig Knudstorp says: "We expect growth both in our primary markets in North America and Europe and in emerging, rapidly growing markets, including China. Our classic product lines as well as new themes such as LEGO Ninjago have got off to a good start in the new year.”