Toymakers, like other global
companies, have been facing soaring oil and raw material prices. But an
aggressive cost-cutting program has helped Lego, the
Danish toy company, offset these problems. In an interview with
Forbes.com, its chief executive, Joergen Vig Knudstorp, talks about
other challenges toymakers face and his ambitions for growth in the
online world.
Forbes: What are the challenges in the toy industry?
Joergen Vig Knudstorp: At the corporate front, an increase in raw
material prices and transportation costs that are hitting everyone. On
the demand side, children tend to get older at a younger age, in many
parts of the Western world. We face the penetration of the electronic
media as now children spend more on electronics. These trends are
strengthening.
Article Link
companies, have been facing soaring oil and raw material prices. But an
aggressive cost-cutting program has helped Lego, the
Danish toy company, offset these problems. In an interview with
Forbes.com, its chief executive, Joergen Vig Knudstorp, talks about
other challenges toymakers face and his ambitions for growth in the
online world.
Forbes: What are the challenges in the toy industry?
Joergen Vig Knudstorp: At the corporate front, an increase in raw
material prices and transportation costs that are hitting everyone. On
the demand side, children tend to get older at a younger age, in many
parts of the Western world. We face the penetration of the electronic
media as now children spend more on electronics. These trends are
strengthening.
Article Link
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