In 2003 LEGO sales dropped 35% in the US and 29% worldwide, combining to be the biggest annual loss in the company’s history.
This was new territory for a company that saw generations success decade after decade. But how exactly did it happen?
Like many other business trying to stay ahead of their competition, the iconic toy brick manufacturer attempted to pivot into an untapped market. Problem was they pivoted wrong.
LEGO tried to innovate without researching or simply asking their faithful customer and fan base what they really wanted. This resulted in a product that was very un-LEGO like. Items that were mostly prebuilt and had minimal assembly factor.
LEGO eventually rebounded and has since experienced steady growing sales, leading to several full length feature films and other entertainment expansions like streaming tv series and gaming franchises.
All because LEGO returned to their roots of success. Which was relying on their proprietary brick building system as the foundation for new innovation.
The moral of the story? When others seem to be growing in new experiences, opportunities or innovation, don’t be afraid to continue being your authentic self personally or professionally. Especially when you’ve had success doing so.