Quantcast
Connect with us

Lego sales skyrocket as sales of girls’ toy line outpaces production

Published

on

Toy maker Lego said on Thursday that net profit jumped 35 percent in 2012 on sales rising 25 percent, as demand for a controversial girls’ range outstripped production capacity.

The unlisted Danish company posted a net profit of 5.61 billion kroner (752 million euros or $992 million) on revenue that was up 25 percent to 23.4 billion kroner, driven in part by its new line Lego Friends aimed at girls between the ages of five and nine.

ADVERTISEMENT

“During its first year on the market, the product line has proved a huge success, and in spite of a considerable increase of production capacity on this particular line during the year, the very strong demand could not fully be met,” the company said in a statement.

The Friends collection has come under fire from feminists who accuse Lego of promoting gender stereotyping. Plastic dolls known as Ladyfigs come with long hair, beauty salons and riding camps.

The company, the world’s fourth-biggest player in a traditional toy market dominated by Mattel said that sales were particularly strong in North America and in Asia, where it’s still a relatively small player.

The gains came in spite of a decline in the value of the global market for Lego’s products. Southern European markets shrank “considerably” while all Asian countries except Japan expanded, it said.

ADVERTISEMENT

The family-owned company founded in 1934, based in the western Danish town of Billund, has seen several years of strong growth after a deep crisis in 2003-2004, since when it has been rapidly expanding its factories in the Czech Republic and Mexico.

In 2012, Lego said it had an average of 10,400 fulltime employees, which was an increase of more than 1,000 from a year earlier.

“Based on the Lego Group’s good momentum at the end of 2012, continued sales growth is expected in 2013,” it said.

ADVERTISEMENT

“However, the economic challenges in many European and North American markets are expected to result in lower growth rates for the company than achieved in recent years,” it added.


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

‘Horde of clueless angry white men’: Internet mocks Matt Gaetz for leading a raid on a secure impeachment hearing

Published

on

On Wednesday, Rep. Matt Gaetz (R-FL) led a gang of two dozen conservative lawmakers as they barged into a classified evidence meeting in the impeachment proceeding against President Donald Trump.

Gaetz — who is not a member of the Intelligence Committee but has demanded the right to review sensitive evidence as if he is one — received scorn from commenters on social media for his stunt:

This is their plan? I’m so fucking relieved we’re up against Matt Gaetz.

Continue Reading

Breaking Banner

BUSTED: Newly uncovered White House budget docs undercut one of Trump’s last defenses in Ukraine scandal

Published

on

President Donald Trump's insistence that he only pushed Ukraine to investigate former Vice President Joe Biden because he was concerned about "corruption" has been one of his primary defenses against House Democrats' impeachment inquiry.

However, the Washington Post has uncovered some White House budget documents that directly undercut the president's defense.

According to the Post, the Trump administration "has sought repeatedly to cut foreign aid programs tasked with combating corruption in Ukraine and elsewhere overseas" even though the White House has insisted that it is laser-focused on promoting good governance in the country.

Continue Reading
 

Facebook

Rick Perry quickly gets stumped after claiming House impeachment inquiry is breaking the law

Published

on

Speaking on the Fox Business Network this Wednesday morning, outgoing Energy Secretary Rick Perry tried to dispel speculation that his coming resignation is due to his alleged involvement in the Ukraine fiasco enveloping the White House, saying that he had been planning to resign for "eight or nine months."

Perry jumped right into the subject of the impeachment inquiry targeting President Trump and the fact that his former department will not comply with a House subpoena for documents.

Continue Reading
 
 
Help Raw Story Uncover Injustice. Join Raw Story Investigates for $1 and go ad-free.
close-image