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degen story reminds me of the lego case study i studied in college. here is the summary for it:
lego almost went bankrupt in the early 2000s
problem: too many new products, too fast, with little customer input
they strayed from their core—building blocks and creativity
launched weird lines like action figures and video games that didn’t fit the brand
costs skyrocketed, sales dropped, and inventory piled up
in 2004, they brought in a new ceo, jørgen vig knudstorp
he cut unprofitable products, focused on core strengths, and listened to fans
lego started co-creating with users (ex: lego ideas platform)
simplified operations, reduced part types, and improved supply chain
partnered with strong franchises (star wars, harry potter) to drive demand
result: one of the greatest corporate turnarounds—lego became the #1 toy company 4 replies
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