Mention Lego and most people have a story to tell. They used to play with Lego when they were kids. They just bought a set. (Did you know they have a typewriter design? People love to talk about the typewriter.) They have a friend who is a collector. The pain of stepping on one in bare feet has become a rite of passage for parenthood.
Lego is ubiquitous. And the company is showing no signs of slowing down. Earlier this month the retailer reported that 2021 sales came in at over $8 billion. It opened 165 stores last year and is in the middle of expansion in China. Even as the world was in the throes of COVID-19, consumer sales jumped 21% in 2020, outpacing the industry's growth that year.
Lego also strategically partners with other retailers and helped to create an aisle in the toy section of box retail stores, according to James Zahn, deputy editor of "The Toy Book." An example of this was in Q4 of last year when Target announced a partnership with the toy company for the holiday season. "Our guests love Lego brick sets," Jill Sando, executive vice president and chief merchandising officer at Target, said in a statement at the time. "In fact, Target is one of the leading destinations for families when shopping for the brand."
This year, as the company celebrates its 90th anniversary, Lego is dominating the toy industry as it follows its mission to "be a global force for learning through play."