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At Lego, Growth and Culture Are Not Kid Stuff
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At Lego, Growth and Culture Are Not Kid Stuff

An Interview with Jørgen Vig Knudstorp

Jørgen Vig Knudstorp and Grant Freeland
Boston Consulting Group, 2017
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Lego manufactures a timeless toy that has captured the wonder of children around the world for several generations. However, the company lost its way and almost went bankrupt in 2004. Jørgen Vig Knudstorp led Lego’s formidable turnaround. In this brief, focused conversation with Grant Freeland of the Boston Consulting Group, Knudstorp, in his final days as CEO, recaps how Lego recovered and how the corporation remains a market leader. getAbstract believes that Knudstorp’s insights will inspire students of management and organizational strategy, as well as fans of Lego.

Take-Aways

  • Lego is a brand that fosters enormous customer loyalty. Nevertheless, the corporation almost went bankrupt in the early 2000s. It had lost focus.
  • Once Lego homed in on its core strengths – its unique product, its customer loyalty, and its large but overlooked fan base – the company grew for the next decade.
  • Despite the innate physicality of Lego’s core product, the firm embraced digital technologies and expanded into video games. This allowed Lego to extend its reach.

About the Speakers

A former CEO of the Lego Group, Jørgen Vig Knudstorp led Lego out of a bankruptcy crisis. Grant Freeland is a senior partner at the Boston Consulting Group.

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