Question
Lego's reinvention has seen its story hailed as the greatest turnaround in corporate history. From 1932 until 1998, Lego had never posted a loss. By
Lego's reinvention has seen its story hailed as the greatest turnaround in corporate history. From 1932 until 1998, Lego had never posted a loss. By 2003, it was an entirely different story. Sales were down by 30% year-on-year and the brand was $800 million in debt. What didn't help their situation was that Lego hadn't added anything of value to its portfolio for a decade.
So, what happened between Lego's CEO, Jørgen Vig Knudstorp, admitting that the brand is running out of cash and he wouldn't survive, and when it overtook Ferrari as the world's most powerful brand in 2015?
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