Newsletter 45: Building a Legacy on Blocks💸
HEY CONVERSION QUEENS 💸👑
Few brands are as universally recognized as LEGO. The colorful building blocks have captured the imagination of children and adults for generations. Yet, even this iconic brand faced a moment in history where its future was uncertain. In the early 2000s, LEGO found itself on the brink of bankruptcy, struggling to stay relevant in an increasingly digital world.
How did LEGO rebuild itself into a thriving, beloved brand? Let's discover today!
SIS, LET’S CATCH A CASE
LEGOS BUILDING BLOCKS TO SUCCESS
LEGO’s story began in 1932, when Ole Kirk Christiansen, a Danish carpenter, founded the company. Initially, LEGO produced wooden toys, but in 1949, the company introduced its first plastic interlocking bricks, the precursor to the LEGO bricks we know today. By the 1950s, LEGO had perfected its design, creating the iconic studs-and-tubes system that allowed bricks to connect securely.
LEGO’s mission was simple yet powerful: to inspire creativity and play. Throughout the 20th century, LEGO expanded globally, introducing themed sets and becoming a staple in toy chests worldwide. By the 1990s, however, competition from electronic toys and video games began to erode LEGO’s dominance, and the company faced mounting challenges.
By the early 2000s, LEGO was in trouble. The company had expanded too rapidly, investing in ventures like video games, theme parks, and apparel that strayed from its core product. At the same time, internal inefficiencies and rising competition from digital entertainment were eating into profits.
The brand’s identity became diluted, and customers—both children and their parents—began to lose sight of what LEGO truly stood for. In 2003, LEGO posted its first financial loss, and by 2004, the company was teetering on the brink of bankruptcy. It was clear that drastic action was needed to save the brand.
POSITION YOUR BRAND TO WIN
1. 💸👑 Streamlining Operations. LEGO simplified its product lines, discontinuing underperforming ventures like apparel and theme parks. This allowed the company to concentrate resources on what it did best—building blocks.
2. 💸👑 Reconnecting with Customers. LEGO engaged directly with its fanbase, including adult LEGO enthusiasts, to better understand what they wanted. The company launched initiatives like LEGO Ideas, which allowed fans to submit and vote on new set designs.
3.💸👑 Embracing Licensing and Storytelling. LEGO partnered with popular franchises like Star Wars and Harry Potter, creating themed sets that appealed to a broader audience. This shift to storytelling extended to the launch of The LEGO Movie, which became a cultural phenomenon.
4.💸👑Innovating Without Losing Focus. While LEGO returned to its physical brick roots, it also embraced the digital age with video games and apps that complemented its core product rather than competing with it.
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EVERLANE ALUMS GIVE MINERAL SUNSCREEN A LUXURY SKINCARE TWIST AT NEW BRAND GOOD WEATHER SKIN
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PUMA COMPETES FOR GEN Z WITH LARGEST CAMPAIGN TO DATE
The brand is facing weakening demand and fierce competition from the likes of Nike, Adidas, On, and Hoka.
1. 💸👑 Entreprenista Evolve Grant: The Entreprenista Evolve Grant awards $2,500 to a driven woman entrepreneur looking to take her business to the next level. This grant is designed to support early-stage business owners with a clear plan for growth, innovation, or expansion. Alongside funding, recipients gain exposure within the Entreprenista community, giving them a boost in visibility and networking. Applications are open until April 5, 2025. Apply here!
2. 💸👑Amber Grant for Women: Administered by WomensNet, the Amber Grant awards $10,000 every month to a woman-owned business with passion and purpose. At the end of the year, one of the monthly winners also receives an additional $25,000 grant. It’s open to women entrepreneurs at any stage—whether you're just getting started or scaling up. The application is simple and centers around your story and vision. Apply by March 31, 2025, to be considered for the next round. Apply here!
3. 💸👑 HerRise Micro Grant: The HerRise Micro Grant provides $1,000 in funding each month to women of color entrepreneurs across all industries—from tech to beauty to wellness. Designed to bridge the gap in funding access, this grant supports small businesses that are creating community impact and innovative solutions. Applicants must be at least 51% women of color–owned, based in the U.S., and making less than $1 million in annual revenue. Applications close on March 31, 2025. Apply here!
INVEST IN YOUR BRAND, SIS
Thanks for reading, Queen.
