Legoland is coming to Belgium! It is fantastic news for Lego fans and will offer great employment opportunities for Wallonia.
Lego started as a small family business in 1932 in Denmark. After decades of steady growth, they went through turbulent times in the nineties. Believing digitization and diversification were the answer, they drifted away from their core business, and by 2003 the toymaker almost went bankrupt.
Lego decided to make a massive shift and returned stronger than ever. Here are some key elements of their new strategy:
Go Back to Basics
Lego went back to what they are best at: brick-based construction. They simplified their sets and went back to basics: back to bricks.
Listen to your Customer
Lego has a dedicated group that researches how kids (and adults!) play and truly listens to their needs. Lego’s research shows that European parents like to help their kids build a set, while American parents want their kids to play independently. That’s why the European sets are more complex, as kids usually get help from their parents.
Expand your User Base
Initially a toy for young boys, Lego now sees the most significant growth from girls and adults.
For girls, they launched the Lego Friends line. As you can see in the picture from Legoland California, the Lego Friends also conquered the heart of my then 3-year-old daughter. For adults, Lego created collector sets, for which they can charge grown-up prices.
From nearly bankrupt, Lego made a comeback to become one of the most iconic brands in the world. If you want to read more about this unique comeback story, I recommend reading the book "Brick by Brick: How LEGO Rewrote the Rules of Innovation and Conquered the Global Toy Industry".