The Lego Business History

The Lego company was founded in 1932 when Danish carpenter Ole Kirk Christiansen started making gadgets for a living. He fought to make payments in the depths of the 1930s, but the tiny prototypes he had made of things like ironing boards and ladders had great potential seeing that children’s toys. He named this company Profano after two Danish words and phrases, leg and godt, which means “play very well. ”

In 1958, he made the iconic profano brick with tubes inside which makes it interlock to lego parts. This revolutionary innovation totally changed the company and allowed this to increase at an amazing pace.

By the 1960s, Lego had broadened its international reach and began manufacturing toys under license in North America through an arrangement with luggage manufacturer Samsonite. The corporation also started off selling places with all the pieces was required to build a particular model, and introduced committed themes which includes Space (with astronaut minifigures), Castle, Community (later has been renowned Lego City), and FabuLand.

In the early 1970s, Lego took a dramatic step forward with its introduction of Lego stats that got movable arms and legs. The company also began employing more plastic and bringing out larger prevents for younger children, a path called Duplo. In the 1980s, Lego’s revenue grew at an amazing rate of ten percent each year, in spite of overall toy industry revenue growth reducing.

Today, Profano is a considerable global business with earnings of above $5. eight billion and one of the most coveted brands in the world, ranking best on Manufacturer Finance’s ‘Most Powerful Brand’ list in 2015. But it really still seems less like a ruthlessly industrial giant and even more like an older family friend.