Earlier this week, the LEGO Group informed their retail partners about changes to recommended retail and wholesale pricing that will take effect this fall. The LEGO Group is well aware that this news will affect LEGO fans and collectors, and they wanted to inform the community as well. Thus the following statement was released via the LEGO Ambassador Network.
As you no doubt have seen and experienced, prices have been rising across many industries for a while. At the LEGO Group, we’ve seen significant increases in the costs of raw materials, freight, and general operating expenses for some time. Despite this, we have worked hard to keep pricing stable. However, recent, rapid increases in costs mean that we will now increase prices on some sets across the portfolio. This increase will come into effect throughout the rest of 2022 and affect around a quarter of LEGO sets. It’s important to note that apart from LEGO-owned retail stores and the Online LEGO Shop, the final price charged to shoppers is set by retailers, not the LEGO Group.
The current global economic challenges of increased raw material and operating costs are impacting many businesses. Putting consumers first is at the heart of what we do as a company, and for some time, we have absorbed these costs to keep pricing stable. However, as these costs have continued to rapidly rise, we have taken the decision to increase the price of some of our sets. This increase will come into effect in August and September.
The increase will differ depending on the set and prices will change on around a quarter of the portfolio. On some sets, we will not alter the price, on others, there will be a single-digit increase and on larger, more complex sets the percentage increase will be higher. We will continue to work to ensure our products offer great value and fully recognize how important this is to our fans and everyone who loves our products.
Prices will be changed on between 150-190 products out of a total portfolio of around 600 products depending on the country. (Prices will not change on approximately 75% of the portfolio). We have tried to ensure that our kids’ ranges have the minimal impact from price rises. The rises range from set to set, and the prices of our larger, more complex adult sets will have a slightly higher percentage increase.
I know that this news will have a negative impact on the LEGO fan community, so if you have any questions, comments, or concerns, feel free to share and discuss below. I can also forward questions and concerns to the LEGO Group via the LEGO Ambassador Network.
And you might also like to check out the following related posts: