Lego, the Danish toy firm well-known for its colourful plastic bricks, expects to diversify its leisure choices portfolio, focusing on the metaverse. The corporate is making ready to current a digital world in partnership with Epic Video games, the gaming engine firm, to proceed growing its market share and progress streak by getting into new digital markets.
Lego, the interlocking toy brick firm, is making ready to current particulars of a metaverse initiative in-built partnership with Epic Video games, the corporate behind Fortnite, in response to the Monetary Occasions. The transfer would make clear the long run actions of the corporate towards establishing a presence in digital worlds, focusing on customers in digital markets.
The corporate’s technique is to proceed rising by providing Lego merchandise in such markets, serving to customers acknowledge the model even on-line. Niels Christiansen, CEO of Lego, talked concerning the journey the corporate is taking to succeed in this new goal. Christiansen declared:
We all know very nicely the right way to immerse shoppers into the Lego universe in shops. We’re working very exhausting to create that feeling of entering into the Lego model universe additionally digitally.
Lego grew considerably within the final yr, with revenues hovering by 17% in comparison with 2021, partially boosted by the robust gross sales in Western Europe and America. Client gross sales additionally rose by 12% throughout 2022.
Whereas different corporations have been slowly transferring their sources away from metaverse initiatives, like Microsoft and Tencent, Lego is doubling down on the thought of developing digital areas for teenagers.
In April final yr, the corporate invested $2 billion in Epic Video games in partnership with Sony, with the thought of constructing its personal metaverse platform to convey children nearer to the model in secure and safe digital areas designed particularly for them.
Along with this funding, the corporate has been ramping up hiring to develop in-house digital experiences since Might, when it knowledgeable that it aimed to triple the variety of software program engineers as a way to take a bodily and digital strategy, not viewing these as completely different areas of its enterprise.
On the time, Christiansen talked concerning the energy of the digital push of the corporate, stating:
On that digital journey we’re actually upping and growing our capabilities, and we’re insourcing capabilities that had been finished by consultants earlier than … At present, it’s our single largest funding.
Nonetheless, the corporate can also be optimistic about the way forward for retail and has been growing the variety of bodily shops as nicely, opening 155 new shops in 2022.
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