LEGO has been named Denmark’s strongest and most valuable brand for the ninth year running, but it’s facing competition from a rapidly-growing pharmaceutical company.
Brand valuation consultancy Brand Finance has once again revealed its annual ranking of Danish brands, placing the LEGO Group at the top of the pile for the ninth consecutive year. The company’s brand value has increased by 3% to DKK 55.2 billion, strengthened by ‘solid sales growth’, the opening of 147 new LEGO Stores, and the introduction of new product lines.
“With an AAA Brand Strength Index (BSI) rating, LEGO remains Denmark's strongest brand, earning excellent scores for familiarity, satisfaction, and consideration,” Brand Finance's report reads. “Its enduring dominance at the top of the rankings is a result of decades of built-up brand equity and enduring nostalgia that resonates with consumers worldwide.”
Whether the LEGO Group can hold on to that crown for a 10th year remains to be seen, however, as Novo Nordisk is hot on its heels following an unprecedented 59% boost in brand value over the past year. The pharmaceutical company has enjoyed incredible demand for antidiabetic and weight-loss medications Wegovy and Ozempic, and commands roughly 85% of the global obesity care market.
“Novo Nordisk’s brand awareness is soaring,” said Brand Finance Chairman & CEO David Haigh. “Its innovative drugs, Wegovy and Ozempic, are making headlines and revolutionising the way the world is losing weight. To sustain this brand value growth, Novo Nordisk needs to focus on expanding production, enhancing its brand image, and strategically positioning itself to keep competitors at bay.
“As the brand continues to innovate, Brand Finance suspects that Novo Nordisk could surpass LEGO in the 2025 rankings, potentially crushing LEGO’s chances of a decade-long reign as Denmark’s most valuable brand. However, only time will reveal the full extent of this growth trajectory.”
At the other end of the growth spectrum sits Maersk, which has dropped in value by 37%. Brand Finance says this decline ‘reflects the normalisation of post-pandemic highs’, which is a correction the LEGO Group has not encountered. While the brick brand’s growth has stagnated somewhat compared with its own pandemic-prompted surge in sales, it’s yet to experience a decline in value.
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