Lego, the well-known Danish toymaker recognized worldwide for its vibrant plastic blocks, goals to broaden its leisure choices into new digital markets. The corporate continues to be planning to broaden into the metaverse and is partnering with sport engine firm Epic Video games to launch a digital world.
Fortnite creator Epic Video games introduced a partnership with Lego in April final 12 months. The 2 firms have set out plans to create a household metaverse for youngsters to get pleasure from “an immersive, artistic and fascinating digital expertise”. That very same month, Lego and Sony invested $2 billion in Epic Video games to create the Metaverse platform that would offer a protected digital area for teenagers, bringing them nearer to the model.
“We do a variety of issues on the digital aspect. That is the place we’re rising the funding. We’re superb at immersing shoppers within the Lego universe in shops. We’re working very onerous to create that feeling of moving into the Lego model universe additionally digitally,”
Lego CEO Niels Christiansen advised the Monetary Occasions.
In 2022, Lego’s income elevated 17% to $9.3 billion and its internet revenue elevated 4% to $2 billion, though it confronted challenges associated to elevated spending on uncooked supplies, power and transportation, FT reported.
In keeping with FT, Lego can also be establishing new factories in Vietnam and the US by 2024 and 2025, respectively, to reap the benefits of development alternatives outdoors of Europe. The corporate has elevated its variety of Lego shops to 904 after opening 155 shops final 12 months.
Many toy manufacturers wrestle to maintain children away from digital units. With the rising use of expertise and the provision of digital video games, youngsters are spending extra time than ever on screens. This pattern has affected the normal toy business, making it more durable for firms to promote bodily toys and video games. Because of this, toy manufacturers like Lego are exploring new methods, reminiscent of growing new merchandise together with the metaverse, to remain aggressive and interact with children drawn to digital units.
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