Lego’s sales have outpaced the overall toy market in the first half of the year, driven by strong demand in Europe and North America. The Denmark-based toymaker reported a 13% increase in sales, reaching 31 billion Danish crowns ($4.65 billion), a significant rise compared to a 1% increase last year and 17% in 2022.
CEO Niels Christiansen highlighted Lego’s strong performance against a stagnant global toy market, where sales have stalled following a 7% decline last year. Lego’s operating profit also rose by 26% to 8.1 billion crowns. With this momentum, Christiansen expects double-digit sales growth in 2024.
The company plans to open around 100 stores this year, focusing on Europe and North America due to strong demand, while slowing expansion in China.