Lego Defies Global Toy Market Downturn with 4% Sales Growth in 2023

Despite a challenging toy industry landscape, Lego's strategic initiatives and product innovation lead to a resilient performance.

Lego reported a 4% increase in consumer sales and a 2% rise in overall revenue, reaching $9.7 billion in 2023.
The Danish toymaker outperformed competitors, with the global toy market experiencing a 7% decline.
Lego's success attributed to strong demand in the US and Europe, despite a sales dip in China.
Innovative partnerships and products, including a collaboration with Fortnite, contributed to Lego's growth.
Despite the positive sales growth, Lego's net profits fell by 5% due to increased spending on strategic initiatives.