The LEGO Group 2021 results have just been announced and it was another bumper year. Metrics across the board were up with Consumer sales up 22% year on year and revenue up 27%. For me, this is even more impressive given the global challenges with shipping and other supply constraints.
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Here in Perth, we saw our very first LEGO store. Admittedly this isn’t LEGO itself, but it is a LEGO authorised store. LEGO opened 165 global stores elsewhere taking the totals to 832 stores of epic goodness.
Sustainability continues to play a big part in LEGO’s ambitions. I’m really passionate about this cause, so was excited to see the first carbon neutral factory opening soon in Vietnam. With an expected cost of $1b (yes with a b), it’s easy to see why the clone bricks don’t quite stack up in quality comparisons. The plan for recycled packaging is to continue my mid 2022 with a full transition by 2025. Although I fully support this mission, I’d like to see LEGO complete it by the end of 2023. It’s a huge ask of course, but LEGO have a way of forging the path! Work also continues on recycled and sustainable bricks.
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Equally impressive is LEGO’s commitment to the children with more than 3.5 million kids supported through donations and community engagement activities. Almost half a billion AUD was also pledged for programmes for kids in need or facing crises. It’s really great to see LEGO supporting the community in this way.
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If only LEGO wasn’t a private company! If the LEGO group ever goes public, I’ll certainly be breaking open the piggy bank at the IPO! I can’t wait to see what they come up with over the next 12 months!