Lego's CEO on the business case for play

Lego's CEO, Niels B Christiansen, discusses the company's resilience and growth in the evolving toy market, which faces challenges from digital competition and changing consumer behaviors. Despite a global slowdown in toy sales, Lego reported nearly $8 billion in revenue, outpacing competitors like Bandai Namco, Hasbro, and Mattel. The company is expanding its presence in markets like China and India while addressing environmental concerns related to plastic waste. Christiansen emphasizes the importance of sustainability, noting that Lego is exploring alternatives to traditional plastics, although recent attempts to create bricks from recycled materials were halted due to insufficient carbon emission reductions.

Lego's product strategy includes a mix of original themes and licensed collaborations, appealing to both children and adults, the latter through its "18+" range. The company is also focusing on "hybrid play," integrating physical and digital experiences, as children increasingly engage with both formats. Christiansen highlights the psychological benefits of play for all ages, advocating for a playful workplace culture that fosters creativity and teamwork. Lego's leadership model incorporates elements of play, encouraging curiosity and bravery among employees. The company aims to maintain its core values while adapting to the digital landscape, ensuring that play remains central to its identity and operations.