Brick by Brick

Author:David Robertson [Robertson, David C.]
Language: eng
Format: epub
ISBN: 978-0-307-95162-5
Publisher: Crown Publishing Group
Published: 2013-06-24T16:00:00+00:00

By the summer of 2005, people had begun to believe in Knudstorp. Tellingly, he finally succeeded in convincing Kristiansen to sell the four LEGOLAND theme parks to a British operator of amusement parks, Merlin Entertainments Group, a move that silenced some of the doubters within LEGO and the chatter in Billund. (LEGO retained a 30 percent stake in the new venture.) A photo caption of the owner and new CEO at BrickFest dubbed the pair “master and apprentice.” Kristiansen would always retain his mastery of the LEGO experience. But with Knudstorp’s ascent, now there was a new man in charge.

Even so, many challenges remained. The LEGO Group’s leaders still had to return the company to profitability and restart sales growth. They still had to transform LEGO into a faster, nimbler, and more cost-conscious innovator. All this had to be done at a time when the toy market was contracting, big retailers were increasing their bargaining power, kids were “getting older faster,” and the company’s return on sales, as it closed out 2005, was still an anemic 7 percent, far short of the 13½ percent target that had been set the year before. LEGO was on the verge of winning its first big battle. But the war was far from over.

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