Global sales of construction sets by the Danish company Lego increased by 12% in 2024, against the background of an overall decline in the global toy market by 1% and a decline in revenue among competitors, The Wall Street Journal reported, citing the company's financial statements.
Lego Group considers its annual data to be record-breaking, the company's total revenue grew by 13%, to 10.79 billion USD, net profit increased by 5.3%, to 2 billion USD. For the same year, the American manufacturer Hasbro, which produces a wide range of toys and board games, including Monopoly, reported a 17% decline in revenue. Mattel, the maker of Barbie dolls, Hot Wheels cars and other popular toys, also reported a 1% decline in sales. At the same time, Mattel fears that its performance in 2025 could be negatively affected by the tariff policy of US President Donald Trump.
Lego notes that this year's success is mainly due to the growing popularity of thematic construction sets based on the Star Wars and "Harry Potter" film franchises. The company notes particularly dynamic growth in the Middle East, Europe and America. Also in 2024, the manufacturer released construction sets for the popular video game Fortnite, which also led to an increase in sales.
Last year, Lego increased its expenses by 14%, directing funds to expand and modernize production and develop environmental programs. By the end of the year, the company had expanded its factories in China, Mexico and Hungary and was in the final stages of implementing projects to build factories in Vietnam and the US, with the first facility scheduled to be launched in 2025 and the second in 2027. The company also plans to open a large distribution center in Vietnam for the Southeast Asian toy market.