CNBC’s Make It has released an 11+ minute video retrospective that chronicles LEGO’s bumpy road to become one of the most beloved and successful toy companies in the world.
Part of the financial-focused site’s Suddenly Obsessed series, LEGO’s Comeback: From Nearly Bankrupt to $6 Billion begins with a brief overview of LEGO’s start-up roots in 1932 with founder Ole Kirk Christiansen, and its continued oversight by the Kirk Christiansen family.
The story then delves into the company’s struggle in the early 2000s to remain relevant in an increasingly video-dominated toy industry. Highlights include the ill-fated attempts at diversification into video games and production, a moment in which LEGO almost declared bankruptcy.
The video then outlines several key decisions that paved the way for LEGO’s current success, including deft integration of the LEGO brick into pop culture starting with Star Wars, and recognizing the importance of AFOLs and the fan community.