Lego’s new store in Manhattan is nothing like the ordinary
Lego, a popular toy brand opened a two-story store in Manhattan. This store is nothing like anyone has seen before, as it takes a huge leap on the immersive retail experience. The store offers a mini New York experience for the visitors – Statue of Liberty, One World Trade skyscraper, Empire State Building, a gargantuan Hulk statue, and an 8,80,000 block tree of Discovery.
They offer unique propositions to kids with their Personalised Studio where visitors have an opportunity to create their own portraits out of Lego bricks. In this day of ubiquitous selfies, who can resist taking home their own $130 LEGO selfie?
Lego is planning to expand its reach further, it is present in over 50 countries currently. They are not just planning to appease kids with their in-store experience but adults as well. According to a study conducted by LEGO, they found that 90% of the servers that playtime helped bring the family together and remain emotionally healthy during the pandemic year.
Playing to win
In the last two years, LEGO has made incredible growth in terms of revenue, making over 43.7 billion US dollars with an operating profit of 19%. These numbers remained constant despite the pandemic, in fact, LEGO was able to double its growth in the last year.
CEO Neils Christiansen said “For the past two years, we’ve made large-scale investments in initiatives designed to support long-term growth. In 2020, we began to see the benefits of these, especially in e-commerce and product innovation.”
And he promised, “We will further increase investments during the coming year with a continued focus on innovating play, our brand, digitalization, and developing an omnichannel retail network.”