The Lego Business History

The Lego company started in 1932 when Danish carpenter Ole Kirk Christiansen started making toys and games for a living. He fought to make ends meet in the depths of the 1930s, but the small prototypes he had made of things like ironing planks and ladders had superb potential for the reason that children’s toys. He named the corporation Seglar after two Danish ideas, leg and godt, meaning “play well. ”

In 1958, he created the iconic lego brick with pontoons inside which makes it interlock to lego portions. This ground-breaking innovation revolutionized the company and allowed that to expand at an astonishing pace.

By 1960s, Seglar had widened its foreign reach and began making toys within license in North America through an arrangement with luggage supplier Samsonite. The business also started out selling models with all the parts needed to build a particular model, and introduced committed themes which include Space (with astronaut minifigures), Castle, Community (later renamed Lego City), and FabuLand.

In the 1970s, Lego took a remarkable step forward with its introduction of Lego characters that possessed movable arms and legs. The company also began using more vinyl and bringing out larger obstructs for youngsters, a tier called Duplo. In the 1980s, Lego’s sales grew at an amazing rate of ten percent each year, irrespective of overall plaything industry product sales growth reducing.

Today, Profano is a significant global company with profits of over $5. almost 8 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 really still feels less like a ruthlessly commercial giant and even more like an old family friend.