Coming off a record year for sales and profits, the Lego Group plans to expand its U.S. footprint.
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The Danish toy company reported a 12% increase in total revenue to nearly $13B and a 16% jump in consumer sales as part of its 2025 annual results released Tuesday.
Lego's 2025 revenue was some 29% better than the combined revenues of its two nearest rivals, Hasbro and Mattel, and Lego's sales growth was more than double the 7% average growth of the global toy market, according to market researcher Circana.
The company plans to open its first U.S. factory next year in Virginia, which will allow it to tailor production to meet regional demand. The toymaker also opened a factory and regional distribution center in Vietnam last year and completed expansions of existing plants in Mexico, Hungary and China.
Lego also plans to expand its Lego Store brand beyond the nation’s largest metros by opening locations in smaller cities such as Minnetonka, Minnesota, and Broomfield, Colorado, this year.
The retailer operates more than 100 Lego Store locations in the U.S. and expanded its portfolio to a record-high 870 products last year.
Lego announced in 2023 it would move its Americas headquarters from Connecticut to Boston by the end of this year, and it leased more than 100K SF of office space in the Massachusetts metro in preparation for the move.
The plastic brick manufacturer is keeping a close eye on oil price spikes and geopolitical tensions in the Middle East, but Lego CEO Niels B. Christiansen told Bloomberg he expects consumer spending to remain strong.
“We’ve grown quite nicely in the U.S. over the past three years, and I believe that can continue — both because the market is doing reasonably well and because we’re gaining market share,” Christiansen told Bloomberg.
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