LEGO’s recovery from bankruptcy is a most convincing example of brand restructuring. In an excellent 20 min interview LEGO’s CEO explains how they did it. And more, you will find him somewhat singing at an investors conference.
If you believe Apple may have had the most convincing brand turn around of all time, then you should broaden your perspective by reading about LEGO’s recovery. The story is not as prominent, but has at least the same number of interesting brand strategy learnings. LEGO’s strategy mistakes and turnaround are a must-know for every brand executive.
Instead of sharing some boring text, allow us to share with you an interesting video featuring LEGO’s CEO, Jørgen Vig Knudstorp. Trust us, even when your brand is not in trouble, this interview is worth the 20 minutes spent. At the very least, Knudstorp gives you some useful information that may keep your brands out of trouble for years to come.
If you have some more time then I will also suggest this video to you for light entertainment if nothing else. When you are as successful as LEGO & Knudstorp, you can afford to sing at an investors conference, even though, let’s face it, he is a much better turnaround manager!
Regardless how well Knudstrop scores in singing & dancing, his 2015 financials were very convincing, with earnings higher than Facebook and more profitable than Apple. We promise we’ll cover more on LEGO in due course, as it certainly one of the most interesting and successful brands these days. Stay tuned or subscribe for more on LEGO and other successful global brands.