Icons Tiny Plants by Lego.
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Flowers, succulents and Formula One race cars helped fuel a 12% revenue bump for Lego during the first half of the year.
The company reported a record 34.6 billion Danish kroner, or $5.4 billion, in revenue as part of its biannual earnings report on Wednesday. Operating profit rose 10% year over year to 9 billion Danish kroner, or $1.4 billion, the company said.
“It’s the best first half ever,” Lego CEO Niels Christiansen told CNBC. “It’s a record on revenue, a record on operating profit, it’s a record on net profit. … So, we are very happy.”
The brick maker launched 314 new sets during the first six months of the year, another record high. Lego has steadily added new product to its portfolio, branching out into home decor with wall art sets. It has also added new license partners and released sets tied to animated children’s program “Bluey” and fan-favorite anime “One Piece.”
Up next is a multiyear partnership with Pokemon, due to hit shelves in 2026.
“You can always find something that you really like, the pop culture you’re into or the passion point you have,” Christiansen said. “That works really well.”
In expanding its catalog of product, Lego has also grown its consumer base. Gateways into the brand such as its line of botanicals — plants, flower bouquets and succulents — and its ongoing partnership with Epic Games — which brings Lego to the digital space and elements from the popular video game Fortnite into the physical world — have encouraged newcomers into the brick-building space, Christiansen said.
“Then they figure out what it is and what it does for them, how it kind of allows them to express themselves, but also de-stress and focus on stuff in a different way,” he said. “So botanicals sets turn out to be good at recruiting new consumers into the brand, and then as soon as they build their botanical set, they may move on to building something else.”
Lego opened 24 new stores globally during the first six months of the year. The company has been opening more physical retail locations in areas that, unlike the U.K. and the U.S., did not grow up with the iconic colored bricks. This includes countries such as China and India.
Having brick-and-mortar places where kids and adults can get their hands on Legos and see the available sets has previously helped bolster sales.
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