While many major toycos experienced tough losses last year, The LEGO Group seems to have bucked the trend. 

The Danish brickmaker has reported its full-year revenue at US$9.4 billion, up 17% from US$7.8 billion in 2021. LEGO attributes this growth to a 12% bump in overall sales, and particularly strong performances in the Americas and Western Europe.

“We achieved double-digit top-line growth and grew our market share globally, significantly outpacing the toy market, despite economic and geopolitical challenges,” said CEO Niels Christiansen in a release. “It was driven by strategic investments made during this time, which are both paying off now and establishing a foundation for long-term, sustainable growth.” 

LEGO invested heavily in the retail space in 2022, significantly expanding its London flagship location and opening 155 new branded stores, including 95 in China alone. The toyco now operates 904 retail locations in 111 countries. 

To handle more production volume, LEGO plans to establish two new factories soon—one in Vietnam next year, and the other in the US sometime in 2025. Three of its five existing factories will also be expanded to increase output. 

Some of the brickmaker’s bestselling lines in 2022 include the original LEGO City kit, its Icons and Technics ranges, and licensed Harry Potter and Star Wars building sets.