Latest news with #JørgenVigKnudstorp
Forbes
02-07-2025
- Business
- Forbes
Nike's Debut Lego Brick Playset Sells Out In Minutes, Strengthening Nike's Youth Appeal
Sportswear giant Nike is stepping onto a new court of play – toys – in partnership with LEGO by releasing the first-ever Nike Dunk x LEGO brick set, retailing for $100 and selling out in minutes on both companies' websites, according to Jefferies. Nike Dunk x LEGO bricks set Courtesy of Nike The 1,180-piece Nike Dunk x LEGO bricks set is designed as a basketball sneaker with a rotatable brick basketball toy and features the 'DUNK' slogan with hidden stash compartments and a new LEGO minifigure, called B'Ball Head. This marks the first in a series of co-branded offerings, including Nike x LEGO kids' footwear and apparel, additional LEGO sets to drop in September, and multi-city interactive experiences, kicking off June 7 through June 11 at California's LEGOLAND to coincide with the International Day of Play. Next month, a co-branded Nike Air Max Dn x LEGO sneaker in bright yellow will drop, priced at $155, featuring an upper fashioned with LEGO's iconic stub bumps and LEGO minifigures printed in windows on the midsole. LEGO and Nike have sealed a multi-year partnership to merge 'the imaginative world of LEGO bricks with Nike's storied sports legacy to inspire kids everywhere to the joy of active and creative play,' Nike said. In another move to bring some of the LEGO magic to Nike, former LEGO CEO Jørgen Vig Knudstorp – widely credited with leading LEGO's remarkable turnaround during his tenure from 2004 through 2023 – has been nominated to Nike's board. The Nike x LEGO partnership is a pairing of giants in their respective markets. Nike is far and away the global leader in sportswear, and LEGO is tops in toys. The partnership will help energize Nike's reach into the kid's market, as Kid's is the smallest reporting segment across the Nike portfolio of brands, generating $5.7 billion after declining 5% in fiscal 2025 ending May 31. Nike's troubles don't end there. Overall revenues were down 10% to $46.3 billion. Meanwhile, LEGO Group has wind at its back, with sales up 13% last year to $11.7 billion (DKK 74.3), and it is rated the world's most reputable company in 2025 by Reptrak. Nike trails at number 22. Long Term And Short Term Payoff Engaging kids in the Nike brand presents an immediate growth opportunity with a potential halo effect. As children connect with the brand, their parents may be inspired to engage as well. While Men's remains the Nike brand's largest reporting segment ($23.3 billion), followed by Women's ($9.7 billion) and Jordan Brand ($7.2 billion), all three declined last year, down 6%, 6% and 16% respectively. Looking ahead, today's youth could become tomorrow's brand loyalists, making the LEGO partnership a strategic, long-term investment in Nike's future. 'We view this partnership and Knudstorp's board appointment as a significant strategic move, given his transformative impact at LEGO. Under his leadership, the company reinvigorated its brand through innovative IP collaborations and creative product lines that drove sustained consumer engagement and demand. Next month, Nike will release a LEGO Air Max Dn and additional kids' products, which we see as momentum-building drops that should sustain excitement around the partnership,' wrote Jefferies' analyst Randy Konik in an investment note. Further Reading Forbes LEGO And Nike's Partnership: A Strategic Move In The Era Of Brand Collaborations By Kate Hardcastle Forbes Nike Takes $1 Billion Tariff Hit But Predicts Hard Yards Behind It By Mark Faithfull Report the details...
Yahoo
29-06-2025
- Business
- Yahoo
Shuffleboard: Lego Legend Nominated to Nike Board
Athletic giant Nike announced Jørgen Vig Knudstorp's nomination for election to the board of directors at the company's 2025 annual meeting of shareholders, held on Sept. 9. Knudstorp was president and chief executive officer of the Lego Group from 2004-2016, executive chair of Lego Brand Group from 2017-2023 and currently serves as deputy chair of the Lego Foundation. He previously held various leadership positions at Lego from 2001-2004. Before joining Lego, Knudstorp served as a management consultant at McKinsey & Company. He's also the lead independent director of Starbucks Corporation as well as partner and executive advisor of Innovation Endeavors. More from Sourcing Journal FedEx Faces $170M in Tariff Headwinds as US Cracks Down on De Minimis American Giants Levi's and Nike Join Forces Shuffle Board: Kering, Tailored Brands, Pendleton Name CEOs Fabletics has named Carly Gomez chief marketing officer and expanded Meera Bhatia's role, appointing her president and chief operating officer. Bhatia joined Fabletics in February 2020. As COO, she has led initiatives across e-commerce, production, operations and technology, also spearheading the brand's expansion into new channels. Her appointment to president and COO expands her responsibilities to now include product creation, retail, wholesale and international operations. Gomez joined as senior vice president of brand marketing in April 2024. Her new role as CMO will emphasize guiding brand strategy, digital innovation and customer engagement. Luxury conglomerate LVMH has promoted Ludovic Pauchard to the newly-created role of industrial and craftsmanship director of LVMH Group and executive chairman of LVMH Métiers d'Art. He currently serves as Louis Vuitton's senior vice president of manufacturing, a title he has held since 2019 after joining the label in 2003. Effective Sept. 1, Pauchard will report to Stéphane Bianchi, LVMH Group managing director, to 'ensure operational excellence across the entire production value chain,' now with vertically integrated industrial- and craftsmanship activities. Lifestyle brand Ralph Lauren has approved the appointment of Angela Ahrendts as the new lead independent director, following the company's 2025 annual meeting of shareholders. Ahrendts has served on the Ralph Lauren board since August 2018 and is currently the finance committee chair and a member of the nominating, governance and sustainability committee. Ahrendts succeeds Hubert Joly, who, after 16 years of service, will not seek reelection to the board. Joly was appointed to the Ralph Lauren Board in June 2009 and has served as Lead Independent Director since 2021. Ahrendts's appointment will be effective following her reelection as a director at the annual shareholder meeting on July 31. Women's specialty chain announced Courtney O'Connor's appointment to the role of senior vice president, chief merchandising officer, effective June 30. O'Connor will succeed Shelley Liebsch, who will be leaving to pursue other opportunities. O'Connor is a successful merchandising leader with 20 years of experience in the global lifestyle apparel and luxury sectors, specializing in retail, wholesale and e-commerce. She most recently served as chief merchandising officer at Club Monaco and previously held senior leadership roles at Public Clothing Company and Ralph Lauren, as well as merchandising and buying roles at Saks Fifth Avenue and Neiman Marcus. Flexible carbon fiber composites firm Carbitex announced the appointment of Jen Hanna to the newly-created role of vice president of sales for the U.S. market. Hanna brings over 12 years of experience in advanced materials and textile innovation, most recently as the director of Innegra sales at Quantum Materials and previously as president at Innegra Technologies. Based in Greer, South Carolina, she will lead U.S. sales and brand partner relations, joining global vice president of sales, Filippo Sarto, to drive Carbitex's continued expansion efforts. Multinational delivery services firm FedEx announced the appointment of R. Brad Martin as the company's new board chairman following Frederick Wallace Smith's death on June 21. The founder, executive director and long-time chairman and CEO of FedEx Corporation, passed away from natural causes in Memphis, Tennessee. Martin will continue to serve as chairman of the audit and finance committee of the board. Martin was first elected to the board in Sept. 2011, the beginning of his tenure in oversight roles, including vice chairman and audit and finance committee chair. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Barnama
25-06-2025
- Business
- Barnama
Jørgen Vig Knudstorp Nominated To Join NIKE, Inc. Board Of Directors
BEAVERTON, Ore., June 25 (Bernama) -- NIKE, Inc. (NYSE:NKE) today announced Jørgen Vig Knudstorp has been nominated for election to its Board of Directors at the Company's 2025 annual meeting of shareholders, to be held on September 9, 2025. Mr. Knudstorp was President and Chief Executive Officer of the LEGO Group ('LEGO') from 2004 to 2016, Executive Chair of LEGO Brand Group from 2017 to 2023 and currently serves as Deputy Chair of the LEGO Foundation. He previously held various leadership positions at LEGO from 2001 to 2004.
Campaign ME
21-05-2025
- Business
- Campaign ME
What MENA marketers can learn from fandom strategy
With the Middle East becoming a global hub for entertainment and tourism, regional marketers have a unique opportunity to employ the power of fandom to build enduring brand loyalty. LEGO's innovative fan engagement strategies, coupled with the recent announcement of Disneyland Abu Dhabi offer valuable lessons for brands in the region. Get your tickets to the Campaign Breakfast Briefing: Marketing Strategies 2025 on May 29, where top industry leaders will gather to unpack game-changing practices within the world of marketing. Marketers must build communities, not just customers LEGO's transformation from a company on the brink of bankruptcy in the early 2000s to a global powerhouse is a testament to the power of community. Jørgen Vig Knudstorp, who recently stepped down from his board position leaving behind a legacy of visionary leadership, is widely credited for one of the most remarkable corporate turnarounds. When he assumed the role in 2004 as the first person outside the founding Kristiansen family to manage the company, LEGO was facing a severe financial crisis, with significant losses and declining sales. Under his leadership, the company not only returned to profitability but also became a global leader in the toy industry. This approach was far from conventional. In a bold move, the company embraced community-driven innovation. LEGO acknowledged its adult fan base, known as AFOLs (Adult Fans of LEGO), by creating platforms for them to contribute directly to the brand's evolution. Recognising the untapped potential of adult fans, Knudstorp actively engaged the AFOL community, leveraging their passion and creativity through initiatives such as LEGO Ideas, which transformed fan designs into best-selling sets. The LEGO House in Billund, Denmark, further showcases the brand's commitment to its fans. This 'Home of the Brick' features massive displays of fan-made creations, interactive exhibits, and workshops that celebrate creativity and community. This physical space serves as a pilgrimage site for fans, cementing LEGO's legacy as a brand. More recently, the BrickLink Designer Program has taken fan involvement to the next level. Acquired by LEGO, BrickLink is a marketplace for custom LEGO designs. Through the Designer Program, fans can submit designs for crowdfunding. Once fully funded, these designs are manufactured and distributed by LEGO, with fan designers earning both recognition and financial reward. This initiative highlights a crucial shift in the industry: fans are no longer just passive consumers but active co-creators in brand storytelling in revitalising classic themes, blending nostalgia with contemporary creativity. This level of engagement goes beyond marketing; it positions fans as stakeholders in the brand's success. This participatory culture has not only kept LEGO relevant but has also allowed it to thrive in an increasingly competitive market, offering MENA brands and marketers a blueprint for sustainable growth through community engagement. Disneyland Abu Dhabi: A cultural fusion Disney's announcement of its first Middle Eastern theme park in Abu Dhabi marks a significant milestone in the region's entertainment landscape. Set to be located on Yas Island, the park aims to blend Disney's iconic storytelling with Emirati culture and architecture. Bob Iger, CEO of The Walt Disney Company, emphasised that the park will be 'authentically Disney and distinctly Emirati,' highlighting a commitment to cultural integration. This strategic move aligns with the UAE's broader vision to diversify its economy through tourism and entertainment. By creating a space that resonates with local culture while offering globally recognised experiences, Disney is setting a precedent for how international brands can successfully enter and thrive in the MENA market. The announcement of Disney's upcoming theme park in Abu Dhabi has ignited a wave of speculation and excitement across social media platforms. Fans worldwide are actively discussing how this new park might differ due to its unique location. For example; on TikTok and Reddit, fans are sharing ideas about potential attractions that blend Disney's iconic storytelling with Emirati culture, such as incorporating attractions inspired by regional folklore – enthusiasts have floated ideas such as rides based on the legend of Umm Al Duwais or storytelling zones inspired by One Thousand and One Nights, reimagined with a modern Disney twist. Facebook groups dedicated to Disney enthusiasts are buzzing with discussions about how the park's design might adapt to Abu Dhabi's climate. This community-driven dialogue reflects a participatory culture where fans feel invested in the development process, offering suggestions and expressing hopes for culturally resonant experiences. What is particularly noticeable is Disney's willingness to lean into these conversations with fans. The company has embraced engagement by hosting forums and Q&A sessions, encouraging fans to share their ideas, as well as spotlighting regional influencers in Abu Dhabi. This approach not only promotes a sense of belonging among Disney's global audience, but also demonstrates the company's commitment to integrating community feedback into its projects. By valuing and incorporating fan contributions, Disney reinforces a shared purpose and connection with its audience, ensuring that the new park resonates with both new, local visitors and long-time international fans. The road ahead for marketers The MENA region stands at the cusp of a new era in brand engagement, where storytelling and community are paramount. By learning from global examples such as LEGO and Disney, regional marketers can craft strategies to captivate audiences and empower them to become co-creators. In doing so, brands can build lasting relationships that transcend traditional consumer dynamics, fostering vibrant communities that drive sustained success. In a landscape increasingly defined by experience and participation, the brands that will thrive are those that invite their audiences to be part of the story. Dr Vlada Botoric, PhD, Assistant Professor, Zayed University
