Why do some brands have long legs?
Who would have placed LEGO in a collaboration with Louis Vuitton?
Walking down Bond Street on Friday (fish out of water) I was surprised to see this LEGO window display at Louis Vuitton. It is an association I would not have expected.
In it’s 90 year history LEGO has been through some ups and downs, but it appears to be going well at the moment, with a brand valuation in excess of $7bn and a Holiday collaboration with luxury brand Louis Vuitton.
How do you transform a family owned plastic children’s play brick business that is much copied and counterfeited into one that sits alongside luxury goods brands?
LEGO is about getting children to innovate and create and this is certainly what the business has done over the years.
Bricks to LEGO World, Star Wars collaboration, digitisation, a large adult following and certain sets now collectors items with valuations 10s or 100s of x the retail price. Maybe not every set but some grow by as much as 700%. LEGO as an investment is a thing as some sets become more valuable over the years! Maybe this brings it closer to a luxury good?
As a business intellectual property brand this one stands out.
Apparently it is now the world’s largest toy manufacturer. There are few businesses that last 90 years never mind reinventing and staying true to its value and also ahead of the demand curve. Well done to LEGO. What next?
Who do you thing benefits most from this collaboration?
#LEGO #LouisVuitton #Brand #BusinessIntellectualProperty
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