The Lego Business History
The Profano company was founded 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 1930s, but the tiny prototypes he had made of things like ironing panels and ladders had wonderful potential mainly because children’s lego-x toys. This individual named the company Profano after two Danish thoughts, leg and godt, meaning “play very well. ”
In 1958, he developed the iconic seglar brick with pipes inside that means it is interlock to lego items. This cutting edge innovation totally changed the company and allowed that to expand at an surprising pace.
By 1960s, Profano had expanded its overseas reach and began producing toys under license in North America through an arrangement with luggage manufacturer Samsonite. The business also begun selling packages with all the items necessary to build a certain model, and introduced devoted themes which includes Space (with astronaut minifigures), Castle, Village (later renamed Profano City), and FabuLand.
In the 1970s, Lego got a remarkable step forward using its introduction of Lego shapes that acquired movable legs and arms. The company as well began applying more vinyl and introducing larger hinders for younger kids, a range called Duplo. In the 1980s, Lego’s product sales grew at an amazing rate of ten percent every year, inspite of overall model industry sales growth slowing down.
Today, Lego is a massive global company with earnings of over $5. almost eight billion and one of the most coveted brands in the world, ranking best on Manufacturer Finance’s ‘Most Powerful Brand’ list in 2015. However it still seems less like a ruthlessly industrial giant plus more like an older family good friend.