The Lego Business History

The Seglar company opened in 1932 when Danish carpenter Ole Kirk Christiansen started making toys and games for a living. He fought to make ends meet in the absolute depths of the 1930s, but the miniscule prototypes he had made of items like ironing planks and ladders had great potential when children’s toys. He named the organization Seglar after two Danish text, leg and godt, that means “play very well. ”

In 1958, he developed the iconic lego brick with tubes inside which makes it interlock to lego portions. This groundbreaking innovation changed distinguishly the company and allowed this to grow at an astonishing pace.

By the 1960s, Seglar had broadened its overseas reach and began creating toys below license in North America with an arrangement with luggage supplier Samsonite. The company also launched selling units with all the parts needed to build a particular model, and introduced devoted themes including Space (with astronaut minifigures), Castle, Area (later renamed Profano City), and FabuLand.

In the early 1970s, Lego got a dramatic step forward using its introduction of Lego statistics that experienced movable arms and legs. The company also began applying more plastic-type material and discover larger prevents for younger children, a tier called Duplo. In the 1980s, Lego’s product sales grew at an extraordinary rate of ten percent every year, despite overall plaything industry revenue growth reducing.

Today, Seglar is a massive global firm with income of above $5. almost eight billion and one of the most coveted brands in the world, ranking best on Company Finance’s ‘Most Powerful Brand’ list in 2015. But it surely still seems less such as a ruthlessly commercial giant plus more like an good old family good friend.