In a world where most kids are playing video games, LEGO is still loved and only continues to grow in popularity and revenue – surpassing Mattel as the biggest toy company in the world. What is even more impressive is that it achieved this with a LEGO brick design which remained relatively unchanged over the last 60 years.
So how did this little toy company from Denmark take over the toy world and remain relevant in the digital world? Luck had nothing to do with it; it’s due to the incredible focus on creating great products, building a fantastic brand, and staying close to their core values.
- Product – LEGO brick design is simple and extremely versatile.
- Brand equity – LEGO is recognizable and loved by kids and adults all over the world.
- Company Values – “Play Well”, Imagination, Creativity, Fun, Learning, Caring, and Quality.
LEGO understood early on that LEGO bricks by themselves are just bricks, but if you create great experiences around these bricks, then you have something. In fact, we believe these experiences are why LEGO won “Toy of the Century” twice! So what are some LEGO designed experiences that come to mind?
- Legoland theme parks (8)
- LEGO Movie franchise (3)
- Video Games (3)
On a smaller scale, LEGO regularly partners with well-known brands to create new experiences and stay relevant. For example, they’ve partnered with:
- NASA to educate kids about space
- Facebook to create a series of videos for the “Kronkiwongi” project
- Ferrari, McLaren, Porsche to create LEGO Speed Champions Series of vehicles
- Snapchat to create a new Snapchat lens (LEGO Batman movie)
These are just a few examples of how LEGO brings well-known brands into their product line, and as a result, they have remained relevant.
Is there any doubt that LEGO will be around for another 100 years? Absolutely not. Technology and distribution channels are always changing, but LEGO will continue to play a large part in our lives. If you are not convinced, look into Augmented Reality projects they are currently working on.