Subject:
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Re: LEGO Company announces poor performance in year 2000
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Newsgroups:
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lugnet.general
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Date:
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Thu, 1 Mar 2001 16:46:59 GMT
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Viewed:
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471 times
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In lugnet.general, Marc Nelson, Jr. writes:
> In lugnet.lego.announce, Suzanne D. Rich writes:
> > from :http://www.lego.com/info/pressspecific.asp?PressReleaseId=171&Year=2001
> >
> > LEGO Company announces poor performance in year 2000
> >
> > Billund, Denmark -- The LEGO Company today announces it ran a deficit of about
> > DKK 1 billion in year 2000. "Financially, the past year was extremely
> > disappointing," says Poul Plougmann, Executive Vice President and COO of the
> > LEGO Company. "But we know what went wrong and we know what to do about it."
> >
> > The year 2000 was a very difficult year for the entire toy industry. But despite
> > many strengths and high points, the LEGO Company was affected "because we lost
> > focus," Plougmann said.
>
> HALLELUJAH! LEGO has finally admitted that getting away from made them great
> has failed - and miserably. Now that the non-brick and garbage-brick
> ventures have been exposed as unprofitable as well as unpopular, they can
> get back to the good stuff and make money again!
> >
> > "We will refocus on our core business, which is materials for open-ended play
> > for children," he said. "That is what the brand is about -- stimulating
> > imagination, creativity and learning -- and it is what children and parents
> > expect from us. We will continue to expand within this area, applying a growth
> > strategy with a huge potential and lower risk."
>
> I can't say enough how happy it makes me to hear this - LEGO acknowledging
> that it needs to get back to its roots. Making quality toys that fit into
> the LEGO system of play isn't only the right thing to do for its fans, it's
> the right thing to do for the bottom line - what could be less risky than
> giving people what they want?
>
> > Plougmann said all indicators point to a profitable year 2001 for the privately
> > owned LEGO Company. "The LEGO brand is as strong as ever," he said.
>
> Good. I want LEGO to make money, because they will make it by giving us what
> we want, and because that means they will be around for my kids as well.
> Thank you, LEGO!
>
> -Marc Nelson Jr.
I smiled when I read the release. Then I thought, "why am I smiling if I like
LEGO?" Now, reading your reaction, I half wonder if the release isn't designed
to renew faith in TLC.
Personally, it makes me smile to think of something like, the death of Bionicle,
and here I see the company "ship" may steer away from such stuff (?) But TLC did
recently hear, via The Wall Street Journal, that outside perception was of an
awfully big risk being taken with that very product.
I suppose, the only thing you can say, if you have to admit to the public that
you lost that much money, is:
"we know what happened"
"we will fix"
"no big risks"
...smile gone.
back to my day as usual.
-Suz
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Message has 1 Reply:
 | | Re: LEGO Company announces poor performance in year 2000
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| (...) Not knowing what is going on at LEGO, I have to take them at their word. If they say, "We screwed up, we're going back to what worked", why not believe them? When they said, "Kids are dumb, so we have to make video games and crappy sets, (...) (23 years ago, 1-Mar-01, to lugnet.general)
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Message is in Reply To:
| | Re: LEGO Company announces poor performance in year 2000
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| (...) HALLELUJAH! LEGO has finally admitted that getting away from made them great has failed - and miserably. Now that the non-brick and garbage-brick ventures have been exposed as unprofitable as well as unpopular, they can get back to the good (...) (23 years ago, 1-Mar-01, to lugnet.general)
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