The Lego Business History

The Lego company opened in 1932 when Danish carpenter Ole Kirk Christiansen started making playthings for a living. He battled to make payments in the depths of the 1930s, but the small prototypes he previously made of things like ironing planks and ladders had great potential mainly because children’s toys. This individual named the business Seglar after two Danish thoughts, leg and godt, which means “play very well. ”

In 1958, he made the iconic seglar brick https://lego-x.com/ with tubes inside that means it is interlock with other lego bits. This groundbreaking innovation revolutionized the company and allowed this to grow at an surprising pace.

By 1960s, Profano had broadened its worldwide reach and began creating toys under license in North America with an arrangement with luggage company Samsonite. This company also commenced selling places with all the portions required to build a particular model, and introduced committed themes including Space (with astronaut minifigures), Castle, Village (later renamed Lego City), and FabuLand.

In the early 1970s, Lego took a dramatic step forward having its introduction of Lego shapes that had movable legs and arms. The company also began applying more vinyl and a review of larger obstructions for youngsters, a lines called Duplo. In the eighties, Lego’s product sales grew at a remarkable rate of ten percent every year, in spite of overall doll industry revenue growth reducing.

Today, Lego is a significant global firm with revenues of more than $5. 8 billion and one of the most coveted brands in the world, ranking number 1 on Brand Finance’s ‘Most Powerful Brand’ list in 2015. But it still seems less just like a ruthlessly commercial giant and even more like an outdated family good friend.