Lego39;s consumer sales grew 4 in 2023 vs market decline of 7
Expects single digit sales growth for 2024
Continues to invest in China despite declining sales

COPENHAGEN, March 12 Reuters Lego increased sales of its colourful plastic bricks last year despite a decline in China and grabbed market share in what it called the most downbeat toy market in 15 years, the Danish toymaker said on Tuesday.

In a global toy market that declined 7, Lego said its consumer sales grew 4 last year, driven by strong growth in the United States and Central and Eastern Europe.

CEO Niels Christiansen said he expects the familyowned company could continue to outpace the global market, adding it expected singledigit sales growth this year despite a continued muted industry forecast.

Expectations are that the market is still not going to be easy, he told Reuters in an interview, adding that he expects the market to fall less in 2024 than last year.

Its main rivals Barbie maker Mattel Inc and Hasbro, the firm behind My Little Pony, have both been grappling with tepid sales on the back of persistent weak demand.

Lego said total revenue, which includes sales to retailers, grew 2 last year to 65.9 billion Danish crowns 9.65 billion.

I think the reason for our success is that our brand is extremely strong all over the world, said Christiansen.

However, consumers have been holding back a little, buying fewer or cheaper Lego sets, he said.

Part of our success is that we have been good…