How Lego Figures Will Be the Next Big Thing for a Generation
Lego figures are the next big thing for a generation, according to Lego’s president, Mattel’s Mattel President of International Marketing and Sales David Smith.
“Lego will continue to have a significant presence in kids’ toys,” Smith said during the company’s investor day today.
The new figures, designed and built by Mattel and made by Smith’s company, will be available in about a dozen different colors, from white and blue to red and yellow.
Smith said Lego was looking to capitalize on the toy’s popularity with children.
“Kids are spending $200 million dollars per year on toys, and we believe that we have a huge opportunity here,” Smith explained.
Lego was first released in 2002, and today the company has over 2,000 toy lines, including the popular line of Legos for boys and girls.
Lego’s popularity has soared since then, as more than $2 billion in Lego toys have been sold worldwide since the beginning of 2016.
This year, the company sold a record $1.8 billion in toys, more than triple what it did last year.
The company has been able to do this thanks to its online retail stores, as well as its online app, which has over 200 million registered users.
“We know that kids love to play with Lego, and that’s why we built our own store on the iPad,” Smith told the crowd.
“When we started selling the new products, we also had to make sure that they were compatible with the new platform, so that we could get the toys into the hands of the kids.”
Smith said the company had set the new figures up with Lego’s “best practices” for how they would look and function in the toy world.
The toys are made by the same team behind the line of Lego figures for girls and boys, as they are similar in color, and are made to fit in with the popular Lego line.
Smith noted that, because the figures are so similar, the toy lines will likely have to be scaled up and made in smaller sizes.
Lego has also been releasing more of its new Lego sets online, and its toys are getting a lot of attention.
“It’s going to be a long year and we’re very excited about it,” Smith joked.
The LEGO line includes more than 30 different products, ranging from the new Star Wars line to the latest Lego line of Star Wars: The Force Awakens, which will release in May.
“There’s going the Lego line, and there’s also the Force line,” Smith added.
“And then there’s the kids line.”