UK ramps up robot research with new funding July 1, 2014 The UK robotics industry has secured 150m of funding for the coming year, following yesterday's announcement the Technology Strategy Board is investing £400m in innovation programmes. In a speech today, science minister David Willetts emphasised that robots should not be viewed as a thing of the future. “Today's strategy launch emphasises the fact that they [...]
First Legoland in Japan set to open in 2017 June 30, 2014 Merlin Entertainment has announced an agreement to build a Legoland theme park in Japan. The plans represent an attempt to capitalise on Japan's status as the second biggest theme-park market in the world, worth around £4bn annually. The park will cost £185m, and will be built using Merlin's operated and leased framework, where the [...]
ICG backs fire extinguisher deal June 12, 2014 London listed debt manager ICG yesterday helped back the buyout of fire extinguisher producer Minimax Viking by Kirkbi, the investment vehicle of former Lego boss Kirk Kristiansen. The group has joined forces with Kristiansen’s Kirkbi investment vehicle to buy the heritage brand, which started making fire extinguishers in Germany in 1902. The deal has been [...]
Crowdsourcing can help SMEs expand May 21, 2014 Many of the prominent examples of businesses using crowdsourcing are large multinationals. Toy giant Lego, for example, encourages its vast fan base to pitch new product ideas through an online platform, while Procter & Gamble has used external “innovation tournaments” to find new ways of cutting corporate energy waste. But Allan Szymczyk, co-founder of London-based [...]
How open innovation will transform the humble quid March 20, 2014 FAREWELL to the pound coin’s familiar golden nugget design. Here comes the dough-decagon in its stead. The new 12-sided quid, modelled after the old threepenny bit, got plenty of attention this week. But the most interesting part of the design is what was left out. The flipside of the coin will be opened to a [...]
Lego sets out plans for world domination as it grabs market share February 27, 2014 LEGO yesterday laid out its plans to dominate the world toy market after revealing sales for last year that trumped the general market. The Danish maker of colourful toy bricks, already the world’s second largest toymaker after barbie-maker Mattel, said it expected to continue to grab market share. The popularity of its city range, which [...]
$50m Valentine’s weekend for Lego movie February 17, 2014 THE Lego Movie, based on the iconic figures from Danish toymaker The Lego Group, had a bumper Valentine’s with Warner Bros reporting US box office takings of $13.03m (£7.8m) on Friday. BoxOffice.com estimates that the movie will take $51m over the weekend, pushing it ahead of both the RoboCop remake ($20.5m) and About Last Night [...]
How toy businesses’ pinkification limits girls and the economy February 6, 2014 The economy is being harmed by toys aimed at boys and girls, according to one minister. "The way we play as children informs the skills we develop", said Jenny Willott, consumer affairs minister. While toys marketed towards boys boost interest in science and maths, and girls shy away from those subjects, UK businesses will "miss [...]
Flotation to value Legoland and Tussauds owner at up to £3.3bn October 30, 2013 ALTON Towers owner Merlin Entertainments announced the price range yesterday for its long-awaited stock market debut, valuing the firm at up to £3.3bn. Merlin, which is co-owned by private equity groups Blackstone and CVC Capital Partners, said it will be offering its shares between 280p to 330p in an initial public offering that will see [...]
Public offered a ride on theme park flotation October 21, 2013 ALTON Towers owner Merlin Entertainments yesterday said members of the public will have the chance to become shareholders in the company when it floats in London next month, with a minimum investment of just £1,000. The business, which also owns Madame Tussauds and Legoland, plans to raise £200m in an initial public offering of shares. [...]