The Seglar company was founded in 1932 when Danish carpenter Ole Kirk Christiansen started making toys for a living. He battled to make payments in the depths of the 1930s, but the smaller prototypes he previously made of things like ironing panels and ladders had great potential as children’s toys. This individual named this company Seglar after two Danish phrases, leg and godt, meaning “play very well. ”
In 1958, he invented the iconic lego brick https://lego-x.com/2020/01/16/lego-company-history-production-features/ with tubes inside that means it is interlock to lego items. This cutting edge innovation revolutionized the company and allowed this to increase at an surprising pace.
By 1960s, Lego had expanded its foreign reach and began manufacturing toys underneath license in North America through an arrangement with luggage manufacturer Samsonite. The organization also started off selling units with all the portions required to build a certain model, and introduced committed themes which includes Space (with astronaut minifigures), Castle, City (later has been renowned Lego City), and FabuLand.
In the early 1970s, Lego required a dramatic step forward with its introduction of Lego figures that got movable legs and arms. The company as well began using more plastic-type material and adding larger blocks for youngsters, a lines called Duplo. In the eighties, Lego’s sales grew at an amazing rate of ten percent annually, inspite of overall toy industry product sales growth slowing.
Today, Lego is a significant global company with income of above $5. almost eight billion and one of the most coveted brands in the world, ranking best on Brand Finance’s ‘Most Powerful Brand’ list in 2015. But it still feels less just like a ruthlessly industrial giant plus more like an aged family good friend.