The Lego company started in 1932 when Danish carpenter Ole Kirk Christiansen started making playthings for a living. He struggled to make payments in the absolute depths of the Great Depression, but the small prototypes he had made of things like ironing panels and ladders had superb potential as children’s toys. He named the business why not try here Lego after two Danish key phrases, leg and godt, that means “play very well. ”
In 1958, he created the iconic profano brick with pipes inside that means it is interlock to lego portions. This ground-breaking innovation totally changed the company and allowed this to increase at an amazing pace.
By the 1960s, Lego had broadened its international reach and began manufacturing toys beneath license in North America via an arrangement with luggage producer Samsonite. The corporation also begun selling places with all the pieces was required to build a particular model, and introduced devoted themes including Space (with astronaut minifigures), Castle, Town (later renamed Seglar City), and FabuLand.
In the 1970s, Lego needed a remarkable step forward having its introduction of Lego information that got movable legs and arms. The company likewise began employing more plastic-type material and discover larger hindrances for younger kids, a set called Duplo. In the eighties, Lego’s sales grew at a remarkable rate of ten percent annually, irrespective of overall toy industry sales growth slowing down.
Today, Lego is a massive global business with revenues of over $5. eight billion and one of the most coveted brands in the world, ranking best on Company Finance’s ‘Most Powerful Brand’ list in 2015. Nonetheless it still seems less such as a ruthlessly commercial giant and even more like an older family friend.