Lego lost a huge customer when Toys 'R' Us went out of business last year. But the toy maker found a way around the problem.
But the toy maker found a way around the problem. Lego expanded distribution at big retailers like Walmart and Target, and it doubled down in China, Lego Group CEO Niels Christiansen told CNN Business.The privately-held Danish toy company said Wednesday that sales grew 4% in 2018 after falling the previous year.Lego bucked the global slowdown in toys and grew sales in the United States, Europe and Asia.
Walmart, Amazon, and Target account for the majority of toy sales across retail in the United States, and toy makers must develop strategies to take advantage of their reach, according to Jim Silver, chief executive of TTPM, a website that reviews toys.Despite Lego's success last year and its projection for sales to grow in 2019, it's getting more difficult for legacy toy makers to stand out against the latest video games and tech gadgets.
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