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The Lego Business History

The Seglar company started in 1932 when Danish carpenter Ole Kirk Christiansen started making toys for a living. He struggled to make payments in the absolute depths of the 1930s, but the tiny prototypes he previously made of items like ironing boards and ladders had great potential for the reason that children’s toys. He named the corporation Lego after two Danish words and phrases, leg and godt, meaning “play well. ”

In 1958, he created the iconic lego brick with pontoons inside that makes it interlock with other lego items. This innovative innovation changed distinguishly the company and allowed that to develop at an astonishing pace.

By the 1960s, Seglar had widened its worldwide reach and began manufacturing toys below license in North America via an arrangement with luggage supplier Samsonite. The corporation also set about selling units with all the items should build a specific model, and introduced dedicated themes which includes Space (with astronaut minifigures), Castle, City (later has been renowned Lego City), and FabuLand.

In the 1970s, Lego got a remarkable step forward having its introduction of Lego statistics that acquired movable legs and arms. The company as well began employing more plastic material and launching larger hindrances for younger children, a range called Duplo. In the 1980s, Lego’s revenue lego and a leading position of vdr grew at an amazing rate of ten percent annually, irrespective of overall toy industry revenue growth slowing.

Today, Lego is a massive global corporation with gross income of more than $5. main billion and one of the most coveted brands in the world, ranking number 1 on Manufacturer Finance’s ‘Most Powerful Brand’ list in 2015. But it surely still feels less just like a ruthlessly business giant and even more like an older family friend.

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