Lego, the Danish toy big famend for its colourful plastic bricks, is making ready to broaden its leisure choices portfolio by focusing on the metaverse.
The corporate is teaming up with Epic Video games, the gaming engine firm and creators of the favored online game Fortnite, to develop a digital world that can assist it proceed to broaden its market share and development streak by getting into new digital markets, Monetary Occasions stories.
Lego’s technique is to proceed to develop by providing its merchandise in digital markets, permitting customers to acknowledge the model even on-line. CEO of Lego, Niels Christiansen, stated:
“We know very well how to immerse consumers into the Lego universe in stores. We’re working very hard to create that feeling of getting into the Lego brand universe also digitally.”
Notably, the corporate noticed vital development final 12 months, with revenues rising by 17%, partly resulting from sturdy gross sales in Western Europe and America. Shopper gross sales additionally rose by 12% throughout 2022.
Whereas different firms have been shifting away from metaverse initiatives, Lego is specializing in establishing digital areas for youngsters.
The corporate invested $2 billion in Epic Video games in partnership with Sony in April 2021 with the purpose of making its personal metaverse platform to carry youngsters nearer to the model in protected and safe digital areas.
Since Could, Lego has been ramping up hiring to develop in-house digital experiences and plans to triple the variety of software program engineers to be able to take a bodily and digital method.
Nonetheless, Lego can also be optimistic about the way forward for retail and has been rising the variety of bodily shops, with 155 new retailers opening in 2022.