Lego, the world’s largest toy company, has built a reputation for being an expensive hobby. With sets costing over $300 since 2007 and some Star Wars sets reaching a price tag of $850, it’s no wonder that Lego has caught the attention of thieves who have stolen around $300,000 worth of the iconic bricks. The question arises, how did Lego evolve from a children’s toy to a coveted collector’s item, and why is it so expensive?
The video delves into the history of Lego, discussing its rise as a popular toy company and the development of the Lego System that allows for endless creative possibilities. However, Lego experienced a decline before experiencing a resurgence, catering to both kids and adult fans of the toy. Adult fans of Lego, known as AFOLs, have fueled the demand for intricate and expensive sets, leading to a booming resale market for rare and discontinued sets.
The video explores the various factors contributing to the high prices of Lego sets, including the intricate designs, premium quality materials, and licensing agreements with popular franchises like Star Wars. Additionally, the video examines the impact of Lego conventions and the growing trend of adults indulging in the hobby, driving up the demand and prices of Lego sets.
As Lego continues to innovate and expand its product lines to cater to both kids and adults, the question remains whether the company’s success will endure. With a strong focus on quality, creativity, and nostalgia, Lego has solidified its place as a premium and sought-after toy brand, but only time will tell if its high prices will be sustainable in the long run.
Watch the video by Business Insider
Video “Why Lego Is So Expensive | So Expensive | Business Insider” was uploaded on 08/17/2024 to Youtube Channel Business Insider