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LEGO® Beats Hasbro as World’s No. 2 Toymaker Amid Asia Sales Jump
By Christian Weinberg,
Sept. 5, 2013
LEGO A/S, the Danish building-block maker, said first-half sales jumped 13
percent with the strongest growth in Asia amid a slower start to 2013 in the toy
markets of North America and Europe.
LEGO first-half revenue rose to 10.4 billion kroner ($1.84 billion) from 9.13
billion kroner in the same period a year earlier, according to a statement
published today by the Billund, Denmark-based company.
LEGO, which estimates the world’s children spend 5 billion hours a year playing
with its toys, said it won market share on rising sales of its new
building-block line Legends of Chima and its LEGO Friends sets. The latter
series, introduced in 2012, is Lego’s sixth attempt over the years to target
girls and the “most significant” new product in a decade, Chief Executive
Officer Joergen Vig Knudstorp has said.
“It’s a very satisfactory result in view of general developments in the world
toy market which has had a slow start to the year in the largest and most mature
markets of North America, Europe and Japan,” Knudstorp said in today’s
statement.
Sales growth in LEGO Friends was “significantly higher” than the company
average, LEGO said. Legends of Chima, introduced this year, has become one of
LEGO largest products and the company said it expects sales will continue to
grow. The range features animal tribes battling for control of a world and
offers a number of different sets.
Higher Share
LEGO, which is closely held, said it boosted its global market share to 8.8
percent in the first half from 8.6 percent at the end of last year. The company
is controlled by Denmark’s richest man Kjeld Kirk Kristiansen, the grandson of
LEGO founder Ole Kirk Kristiansen, who has a net worth of $6.4 billion,
according to Bloomberg rankings.
LEGO first-half sales were higher than those of Hasbro Inc. (HAS) The Pawtucket,
Rhode Island-based toymaker reported sales of $1.43 billion for the same
six-month period on July 22. Mattel Inc. (MAT), the world’s largest toymaker
which is based in El Segundo, California, on July 17 reported a 4 percent
advance in first half revenue to $2.16 billion.
LEGO net income grew 18 percent in the first six month of 2013 to 2.38 billion
kroner, making the company bigger than both Mattel and Hasbro in terms of
profit.
Bloomberg.com
-end of report-
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