Sales of Lego continued to soar in 2021, as kids and adults stayed home to build 'Star Wars' and 'Harry Potter' models long after the coronavirus lockdown ended.
On Tuesday, Lego said its annual revenue jumped 27%, reaching $55.3 Danish krone, or about $8.06 billion, up from $43.7 Danish krone, or around $6.36 billion, in 2020.
The company touted its diverse selection, which appeals to a wide range of ages, as well as its e-commerce business to account for the sales surge. On Tuesday, the privately held Danish toymaker said its annual revenue jumped 27%, reaching $55.3 Danish krone, or about $8.06 billion, up from $43.7 Danish krone, or around $6.36 billion in 2020., as consumers of all ages gravitated toward its building sets for entertainment. The company touted its diverse selection of toys and their appeal across generations, as well as its e-commerce business to account for the sales surge.
Lego noted that as it enters its 90th year, it expects its growth rates to normalize and transition back to single-digit growth. Also in mid-2022, the company plans to begin phasing in sustainable sales packaging to replace single-use plastic bags it uses to separate Lego bricks.