Fighting a $300 million loss in 2004, and in a masterstroke of innovation, LEGO hired ‘adult fans’ of the brand as their design team and began to crowdsource. LEGO has earned the right to celebrate. For a company that was on the brink of bankruptcy in 2004, the toymaker has made an amazing turnaround.
They restructured, hired a new CEO, and forged more licensing partnerships than ever before. Most importantly, they discovered the secret to some of the world’s most successful, low risk innovation strategies.
