4.8 • 1.5K Ratings
🗓️ 7 September 2023
⏱️ 41 minutes
🧾️ Download transcript
Toy industry expert Chris Byrne discusses Lego’s rise to the top of the toy industry and how its focus on one core product has guided the company to success over the decades.
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0:00.0 | Hey, prime members, you can listen to business movers add free on Amazon Music. Download the app today. |
0:23.1 | It's February 2004 at the Legoland theme park in Bill and Denmark. |
0:28.3 | 56-year-old Keltker Christiansen wanders through the deserted grounds. |
0:32.5 | It's a weekday in winter and the theme parks closed. |
0:35.7 | The silent roller coasters and shuttered kiosk seem somehow melancholy a match for Kelt's mood. |
0:41.8 | Kelt is the chairman and majority owner of the Lego group and his company is in crisis. |
0:47.3 | Lego recently announced record losses. Its CEO has departed and for the first time in decades, |
0:53.5 | the future of the famous Danish toymaker seems uncertain. |
0:57.6 | But when Lego's woes became public knowledge, Kelt received a letter. |
1:02.0 | It came from a prominent Danish businessman named Lars Kullen. |
1:05.7 | Lars is the same age as Kelt and the two have been acquaintances for many years. |
1:09.9 | In his letter, Lars offered some thoughts on how to turn Lego around. |
1:14.3 | Now Kelt has invited him to Bill and to discuss his ideas further. |
1:18.5 | The two men meet on a deserted path in Legoland. |
1:21.6 | Lars, thank you for coming. |
1:23.4 | Pleasure to be here, Kelt. Even on a cold morning like this. |
1:26.4 | Have you been to Legoland before? |
1:28.1 | Oh yes, my children were young. They loved it. |
1:30.7 | But it's been a few years. It's changed a lot. |
1:33.2 | Too much, perhaps? We're not enough. |
1:35.3 | Gosh, didn't that the question? |
1:37.0 | I wanted to thank you for your letter. It was very insightful. |
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