Finimize - 🧱 Let’s go, Lego!

Hi Reader, here's what you need to know for September 29th in 3:07 minutes.

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Today's big stories

Lego reported bumper sales growth in the first half of the year
A crypto hedge fund CEO offers five key insights into the market's future – Read Now
The Bank of England is buying up bonds to stabilize British markets

Lego’s Growing Brick By Brick

What’s Going On Here?

On Wednesday, Lego reported strong sales growth in the first half of the year.

What Does This Mean?

With real bricks and mortar looking pretty unappealing right now, consumers seem to be finding solace in bricks of another kind: yes, we’re talking about Lego, a favorite plaything of kids across the globe and an age-old nemesis of adults' bare feet. In the first six months of the year, the toy manufacturer opened 66 new stores, mostly in China, helping to boost sales by 17% versus the same period last year. (Financial wizardry due in large part to enthusiasm for Lego’s Harry Potter and Star Wars sets.) That said, profits didn’t quite keep in step: investments in digital offerings and sustainable manufacturing processes sapped cash, as did higher raw material and energy costs – meaning the Danish toymaker’s profit didn't actually grow in the period.

Why Should I Care?

The bigger picture: A winning strategy.
Lego, the world’s biggest toymaker outside the North Pole, has reaffirmed its position as the titan of the toy industry. It boosted its market share in key regions every month in the period, leaving the wider industry – whose size grew by just 1% – eating dust (tweet this). See, unlike many rivals, Lego keeps manufacturing close to where it sells, so global supply chain trouble has been a non-issue for the firm. And unlike competitors, the toymaker hasn’t upped its prices in recent months – keeping its wide range of products attractive to adults and kids alike.

Zooming out: More bricks to come.
Lego doesn’t intend to rest on its laurels either: the company’s planning to spend over $1 billion on a US factory to keep up with customer demand – its seventh manufacturing site worldwide. The ribbon-cutting’s scheduled for the second half of 2025, when the green factory – powered by an onsite solar park – will start churning out its portion of Lego’s 100 billion yearly bricks.

You might also like: Just how green are your investments anyway?

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Analyst Take

Why Pantera Capital’s CEO Sees A New Dawn For Crypto

By Jonathan Hobbs, Analyst

When you’re the CEO of one of the oldest and biggest crypto hedge funds in the world, a lot of people want to know what you think.

Dan Morehead runs Pantera Capital, which has been around since 2013 and has $4.5 billion invested in digital assets.

He recently sat down to share his thoughts on the crypto market – how it might fare in the current economic mess, and where the opportunities might be.

That’s today’s Insight: why Pantera Capital’s CEO is bullish about crypto.

Read or listen to the Insight here

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