Lego consumer sales jumped 21% in 2020, the result of a broader product range, e-commerce investments paying off and a surge of growth in China.
The Danish toymaker reported revenue for the year that topped 43.7 billion Danish krone, about $6.99 billion, up 13% compared with 2019.
Lego plans to open another 120 retail locations, including 80 in China.
There’s no doubt that the Lego brand has benefited from people spending more time at home during the pandemic, but the company is winning new business in China as well.
Lego said Wednesday that its consumer sales jumped 21% last year, the result of a broader product range, e-commerce investments paying off and a surge of growth in China.
“It is really a result of a tremendous effort by the entire organization, especially with all the things we’ve had to cope with throughout the year,” CEO Niels Christiansen told CNBC.