Danish toy maker Lego will move deeper into the digital world, with more computer games and tie-ups with popular movie franchises, as it battles to grow in a shrinking toy market, its chief executive told Reuters.
Jorgen Vig Knudstorp said on Friday growth in sales of the group’s trademark colorful plastic building bricks was likely to slow in the coming years as sluggish economies in its main European market take their toll.
But he was optimistic the world’s third-largest manufacturer of play materials would outperform the broader toy market, helped by growing demand in Asia, as well as its drive to combine the worlds of physical and virtual play.
“My aim is to continue to reinvent Lego,” Knudstorp said in an interview in his bright corner office, surrounded by Lego boxes, bricks and toys.
“To seize the digital revolution and make it our advantage is vital,” he said, adding he personally spends on average two hours a week playing with Lego.
READ ON: Lego goes digital to keep building
Two teenagers from Toronto sent a Lego man carrying a Canadian flag into the stratosphere. Mathew Ho and Asad Muhammad, both 17, attached four cameras to a balloon carrying the toy astronaut 24km above Earth. A week after launch they recovered their Lego man in a field, and discovered they had captured stunning space footage