In a statement reflecting the status of Lego’s operations in Russia, Maria Golenkov, the vice president overseeing children’s and jewelry products at Inventive Retail Group, noted that Lego maintains a legal presence within Russia. However, there is no indication that the company intends to resume full-scale activities in the country at this time. This assessment aligns with recent reports circulated in major outlets.
Golenkovska, emphasizing the situation, said Lego’s legal entity remains registered in Russia, yet plans for a broad relaunch have not been disclosed. She pointed out that the World of Cubes store network, which is operated by Inventive Retail Group, continues to source Lego products through parallel imports rather than via authorized distribution channels.
Historically, Lego has been recognized as the world’s leading toy manufacturer. The company reported annual revenue approaching DKK 64 billion (about $9.2 billion), marking an approximate 17% increase year over year. Financial disclosures show steady profitability, with net profits around $2 billion and operating earnings near $2.6 billion in the previous year. Lego has consistently outperformed key competitors in the sector, including Mattel and Hasbro. For instance, 2022 figures show Mattel with roughly $5.4 billion in net income and around $400 million in operating profit, while Hasbro reported about $5.9 billion in net income and $200 million in operating profit for the same period.
The broader context includes evolving monetary policy discussions, with officials signaling possible adjustments to the key rate as part of ongoing macroeconomic management. These conversations have implications for consumer spending, retail investment, and supply chain dynamics across the region.