LEGO's success story: How the company survived a debt of $800M and made one of the greatest comebacks in history
LEGO, a Danish toy company, faced financial trouble in 2003 with an $800 million debt. New CEO Jørgen Vig Knudstorp's strategies, including product line reduction and franchise partnerships, reversed the company's fortunes. By 2015, LEGO had become the world's largest toy company, surpassing Mattel, with $2.03 billion in sales in the first half of 2014.
LEGO, a Danish toy company, faced financial trouble in 2003 with an $800 million debt. New CEO Jørgen Vig Knudstorp's strategies, including product line reduction and franchise partnerships, reversed the company's fortunes. By 2015, LEGO had become the world's largest toy company, surpassing Mattel, with $2.03 billion in sales in the first half of 2014.
