The name Lego is an abbreviation of the two Danish words "LEg GOdt", meaning "play well." It is a mantra that the Danish company has followed for more than 80 years. The Lego brick in its current form was introduced in 1958. The privately-held company is owned by Kjeld Kirk Kristiansen, who is the third richest man in Denmark and the grandson of the company's founder. Lego sales by 8% in 2017 as the company worked to clean up inventories in established markets of North America and Europe. One bright spot was China where revenue jumped double-digits. Lego signed a partnership with Chinese intern... Read More
The name Lego is an abbreviation of the two Danish words "LEg GOdt", meaning "play well." It is a mantra that the Danish company has followed for more than 80 years. The Lego brick in its current form was introduced in 1958. The privately-held company is owned by Kjeld Kirk Kristiansen, who is the third richest man in Denmark and the grandson of the company's founder. Lego sales by 8% in 2017 as the company worked to clean up inventories in established markets of North America and Europe. One bright spot was China where revenue jumped double-digits. Lego signed a partnership with Chinese internet giant Tencent and has plans to further expand its presence in this strategic market. Lego plans to open an office in Dubai at the end of the year to support efforts to expand operations in the Middle East and Africa. Read Less
