Word: lego
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...basic eight-stud red Lego brick was first sold in Denmark in 1949. But it took a further nine years for Ole Kirk's son, Godtfred Kirk, to file the patent for the versatile "Automatic Binding Brick" with its interlocking 2x4 studs. The plastic bricks are part of a unique system: tiny tubes inside give the knobs on top of other blocks more places to grip. They hold together well but can be taken apart easily by a child. And consistency has been key: the bricks produced today have the same bumps and holes, and can still interlock with those...
...Lego company was founded in 1932 by Danish carpenter Ole Kirk Christiansen, a carpenter from Billund who had a sideline in wooden toys. He named the company after an amalgamation of the Danish phrase "leg godt," which means "play well...
...Over the years, the Lego group has built up the brand. It developed the larger Duplo series in the 1960s for younger children who had trouble handling the original tiny Lego bricks (Duplo is still going strong too). In 1968, the company opened its first Legoland theme parks, near its Billund birthplace. Parks in Windsor, England, Carlsbad, California and Günzburg, Germany followed, each using around 50 million bricks to create replicas of monuments and landmarks such as the Eiffel Tower, Mount Rushmore, and the Sydney Opera House. Each park receives around 1.4 million visitors per year...
...Radical remedies were needed to restore the brick's reputation. Tie-ins helped: the company's link-up with Star Wars revived the brand, and even led to its own video games: Lego Star Wars II sold 1.1 million units in its first week of release in 2006. If you can't beat 'em, join 'em, it would seem...
...some 4,500 today. The Legoland parks were sold in 2005 to Merlin Entertainments, part of the Blackstone private equity group, which owns Madame Tussauds and Sea Life. And critically, distribution, packaging and production has been outsourced to Eastern Europe and Mexico. As a result, the Lego Group turned a $374 million loss in 2004 into a $281 million profit...