Latest / Family Business Stories with Fexingo: Succession, Legacy, and Multi-Generational Companies
How the Lego Family Rebuilt a Toy Empire Brick by Brick
Lucas and Luna explore the Lego family's remarkable turnaround in the early 2000s, when the toymaker nearly collapsed under a mountain of debt. They focus on the specific moment in 2003 when Lego's revenue dropped 30 percent to $1.1 billion and the company was losing $1 million per day. The hosts unpack how fourth-generation owner Kjeld Kirk Kristiansen handed control to an outsider CEO, Jørgen Vig Knudstorp, who streamlined operations, sold non-core assets like theme parks, and refocused on the iconic brick. By 2005, Lego returned to profitability, and by 2014 it became the…
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