How Lego rebuilt its brand brick by brick
Lego, taking its name from ‘leg godt’, Danish for ‘play well’, began life in the early 1930s. In the 1950s the company, with founder Ole Kirk Kristiansen’s son Godtfred at the helm, introduced its system of play concept, with the interlocking plastic bricks we know today arriving in 1958. Through the introduction of its core principles of play, the company’s mission was, and still is, to inspire and develop the builders of tomorrow, enabling children to learn through play – thus ‘playing well’.
But Lego’s journey hasn’t been smooth, with decades of success preceding a brush with bankruptcy, followed by its meteoric rise in recent years to become the most powerful brand in the world, according to a February study published by Brand Finance.