LEGO CEO: Surge in oil prices may drive up toy manufacturing costs

Gelonghui March 11 | Danish toy giant LEGO’s CEO Niels B. Christiansen admits that if the impact of oil prices is a long-term situation, it will increase the cost of toy production. He stated: “We consider it as part of raw material costs. When oil prices rise, our costs will naturally increase as well; whether the impact is short-term or long-term depends. In the short term, we have contractual protections, so we are relatively unaffected, but in the long run, it’s a different story.”