{"id":3142,"date":"2020-01-04T17:52:20","date_gmt":"2020-01-04T12:22:20","guid":{"rendered":"http:\/\/icaninfotech.com\/?p=3142"},"modified":"2023-04-19T04:38:38","modified_gmt":"2023-04-19T04:38:38","slug":"lego-group-leveraging-digital-technologies-to-transform-the-business-model-and-become-one-of-the-most-successful-toymakers","status":"publish","type":"post","link":"https:\/\/icaninfotech.com\/lego-group-leveraging-digital-technologies-to-transform-the-business-model-and-become-one-of-the-most-successful-toymakers\/","title":{"rendered":"LEGO Group – Leveraging Digital Technologies to Transform the Business Model and become One of the Most Successful Toymakers"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3142\" class=\"elementor elementor-3142\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-bfb3a01 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bfb3a01\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-17091522\" data-id=\"17091522\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\n\t\t<div class=\"elementor-element elementor-element-56663a1a elementor-widget elementor-widget-text-editor\" data-id=\"56663a1a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 25-07-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Leveraging digital technologies to transform the business model and become one of the most successful toymakers<\/p><h4>Key Facts:<\/h4><ul><li>The LEGO Group\u00b9 engages in the development, production, marketing, and sale of play materials. It provides toys as well as experiences and teaching materials for children in approximately 130 countries.<\/li><\/ul><ul><li>Founded by Ole Kirk Christiansen in 1932, LEGO is based in Billund, Denmark. It is a subsidiary of KIRKBI and is currently privately held.<\/li><\/ul><ul><li>In 2014, LEGO earned \u20ac3.8 billion in revenues and \u20ac1.4 billion EBITDA, with a margin of 37.1%. It currently employs approximately 13,000 people.<\/li><\/ul><p><img fetchpriority=\"high\" decoding=\"async\" class=\" wp-image-3148 alignleft\" src=\"https:\/\/icaninfotech.com\/wp-content\/uploads\/2020\/01\/Lego-copany.png\" alt=\"Lego company digital transformation strategy \" width=\"313\" height=\"249\" srcset=\"https:\/\/icaninfotech.com\/wp-content\/uploads\/2020\/01\/Lego-copany.png 500w, https:\/\/icaninfotech.com\/wp-content\/uploads\/2020\/01\/Lego-copany-300x239.png 300w\" sizes=\"(max-width: 313px) 100vw, 313px\" \/><\/p><h2>Uniqueness<\/h2><ul><li>After a period of expansion (1970-1991) LEGO suffered a steady decline (1992-2004) and by 2004 LEGO was close to bankruptcy.<\/li><\/ul><ul><li>Reaching a tipping point, LEGO started restructuring and a <strong><a href=\"https:\/\/icaninfotech.com\/digital-operations-and-platforms-development\/\">digital transformation<\/a><\/strong> program focused on new revenue sources coming from movies, mobile games, and mobile applications.<\/li><\/ul><ul><li>LEGO\u2019s design capabilities have been increasingly handed over to their fans e.g. through the Digital Designer (a web-based 3D design tool to create own designs). Its USP towards learning and development differentiates it from competitors and convinces parents from the millennial generation about its usefulness.<\/li><\/ul><h2>Value<\/h2><ul><li>LEGO achieved an EBITDA margin of 37.1% in 2014, an increase of 15% since 2007.<\/li><\/ul><ul><li>Revenues for LEGO have grown at a CAGR of 20% from \u20ac1.6 billion in 2009 to \u20ac3.8 billion in 2014.<\/li><\/ul><ul><li>In 2014, the first LEGO movie achieved revenues of approximately $468 million with a production budget of only $60 million.<\/li><\/ul><ul><li>LEGO has recovered steadily post-2005 and it is now seen as \u201cthe Apple of toys\u201d.<\/li><\/ul><h2>Approach<\/h2><ul><li>LEGO\u2019s new business group has become the incubator of the company, an open platform that allows fans and partners to experiment with \u201cmicro-businesses\u201d.<\/li><\/ul><ul><li>LEGO was able to transform itself by launching new digital-based businesses such as movies, LEGO Mindstorms, video games, and applications, connected to their block systems that are more appealing to digitally savvy customer groups.<\/li><\/ul><p>LEGO Group is one of more than 100 case studies identified as part of the World Economic Forum\u2019s Digital Transformation of Industries initiative.\u00a0 An overview of the DTI program can be found\u00a0<a href=\"http:\/\/reports.weforum.org\/digital-transformation-of-industries\/an-introduction-to-the-digital-transformation-of-industries-initiative\/\">here<\/a>.<\/p><p>1. Sources: Lego Corporate Information, FT, LA Times, Global Toy News, WEF\/Accenture Analysis<\/p><p>Logos and images are subject to the copyrights of the LEGO brand.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-38c30987 elementor-section-full_width elementor-section-stretched elementor-section-height-default elementor-section-height-default\" data-id=\"38c30987\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-2246c1c3\" data-id=\"2246c1c3\" data-element_type=\"column\">\n\t\t\t<div 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It provides toys as well as experiences and teaching materials for children in approximately 130 countries. 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