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2024-10-31T07:26:00.863Z

In 2003, Lego were just months from bankruptcy. Their sales were plummeting & they were $800 Million in debt. Until they made ONE decision that would transform Lego into a $13 Billion empire... Here's the full story: 2003: LEGO was burning. $800 million in debt. Sales plummeting 30% year-on-year. How did it get so bad? LEGO had lost its focus: • Created jewelry for girls • Launched clothing lines • Built theme parks that lost $30M in year 1. Then in 2004, everything changed: Enter Jørgen Vig Knudstorp. His first insight? LEGO wasn't just a toy company... They were a storytelling company. Every brick was a chance for imagination. His new strategy? "Back to the brick." First step: slash complexity. Cut unique parts from 12,000 back to 6,000. But the biggest change was still to come: Instead of fighting digital, they embraced it. The digital transformation supercharged partnerships. Star Wars sets became Star Wars games. Harry Potter blocks became Harry Potter apps.

Anonymous

Stealth • 6m

Now I understand that Indian's don't want to work on hard tech because it's need huge dedication and Research for creating any innovation like Chinese and Japanese start-ups .

chup hoja satvi fail

😞 Paisa nhi ha.....

Votes: 11

2 replies4 likes

Replies (2)

Anonymous 2

Stealth • 6m

Happy realisation.

0 replies

Anonymous 1

Stealth • 6m

India mainly believes in application based solutions. For R&D, india don't spend that much amount. So, people who want to research will move to other countries where there are good research infrastructure.

0 replies

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