Between the awesome LEGO Movie and never-ending array of special sets, it seems like LEGOs are everywhere these days. Apparently there’s a good reason for that.
For the first half of 2014, LEGO surpassed Mattel in sales revenue for the first time ever, effectively making the company the biggest toy manufacturer on the planet. Yes, that means those little bricks and yellow-faced mini figs have surpassed the house that Hot Wheels and Barbie built.
In 2013, LEGO passed former No. 2 toy company Hasbro, and it seems LEGOs have now proven much more popular than Hasbro stalwarts like Transformers, My Little Pony and board games like Monopoly and Clue. Impressive.
What’s most amazing about the accomplishment is that LEGO essentially does just one thing — make LEGOs. Unlike Mattel and other toy firms, LEGO is hyper-focused in one market. While other companies diversify into several different areas (i.e. race cars and dolls), LEGO has poured its resources into making its niche a full-on market unto itself. And it’s worked.
By cutting licensing deals with every brand from Marvel to Star Wars to the Ninja Turtles and the Simpsons, LEGO has managed to pull more and more kids into playing with the company’s toy niche. It was a risky move all those years ago, but as this latest accomplishment has shown, it’s a strategy that’s definitely paying off.
Are you surprised to hear LEGO officially rules the world now? What was your favorite toy niche growing up?