Amid record profits, LEGO announces price increases for second half of 2022 [News]

Today LEGO is announcing that it will be raising the base MSRP on many of its products for the second half of 2022, rolling out in August and September. LEGO reported its annual operating profits grew by 32 percent in 2021, resulting in the company earning a record nearly $2 billion USD net profit last year. New sets will have the price increase factored in, and about a quarter of existing sets will also be affected. The company has not released details on the specifics of how much we can expect prices to increase, but says that smaller sets may only go up by a few percent, while larger sets will be affected more drastically. LEGO is made of acrylonitrile butadiene styrene, also known as ABS, which is a type of petroleum-based plastic, and LEGO says the recent world events affecting the price of oil have impacted its supply chains. Although LEGO is working toward creating plant-based renewable plastic for its bricks, only a few elements are currently made with the non-petroleum-based product.

Here’s the official press release from LEGO:

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 on 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 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 full recognise how important this is to our fans and everyone who love our products.

12 comments on “Amid record profits, LEGO announces price increases for second half of 2022 [News]

  1. Jeremy Martin

    So the are absorbing more costs but still making RECORD profits? Sounds like another evil corporation scamming its customers because they found out people are making a marginal profit of reselling.

  2. Magnus72

    It is a common thing for mega-companies (including monopolies) to rise the price after record profits – their backside is covered should they lose customers.

  3. hntrains

    Prices are already very high – the company’s colossal profits testify for that. Curious to see where the toys are heading in the context of the essential products being hit by inflation as in no other times we can remember.

  4. Johnny Johnson

    Well, that’s dismaying. Record profits + they’re hiking prices on 1/4 of their catalog = they want to see if people will still buy the sets at needlessly increased prices, and aren’t willing to overcommit by setting a blanket increase to all sets. In case it weren’t obvious enough already that they don’t need to raise prices. That’s a real pisser.

  5. Jimmy

    The Forestmen Hideout, 90th anniv. Castle, and 90th anniv. classic Space Ship will make perfect bookends to my life with Lego, mirroring some of the favorite sets of my youth.

    I’m not saying I’ll stop buying new sets cold turkey or anything, but there are a LOT of sets I pick up on a whim because they have a cool new part or two, or I like the figs, or whatever. I haven’t bought a new City set in the last year because the value just hasn’t been there.

    Speed Champions will probably continue to get my money, as they are a bit under priced currently in very general part/$ ratio, not to mention the excellent builds and good parts you get.

  6. Plinkiplonk

    You could probably power most of Billund with the energy derived from Ole Kirk Christiansen spinning in his grave…

  7. Brian

    Well, I received the UCS landspeeder for Father’s Day and that was actually the final Lego set that I had been waiting for. I have every set I ever wanted so it looks like it’s a good time to get out buying official sets. Most custom Lego set plans I purchase end up being more expensive but the detail make them worth it.

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