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Lego To Build Lego House Museum

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Lego To Build Lego House Museum
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Lego will be putting its bricks to the test. The toy company is gearing up to build a real-life house out of the colorful modeling toy in homage of the company's successful legacy.

Lego Group CEO Jorgen Vig Knudstorp explained on CNBC Tuesday the company's inventive large-as-life task.

"The Lego house is an idea that we actually started working on a couple of years ago, because we have already a private museum in our hometowm," said Knudstrop. "We decided when the opportunity came up to design this spectacular house, which looks exactly like as if it was made out of Lego bricks, and it has the dimensions are made such."

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The Lego CEO said that it will help tell the true story of Lego as a family-owned business.

He added that the Lego building will help inspire people to the endless possibilities of Lego bricks, which will combine state-of-the-art engineering with another tourist destination for Lego. The company hopes to open its Lego museum in 2016, with visitor expectations currently at around 250,000 annually.

Not For Profit

Knudstorp said that the venture isn't commercial and is purely for the historical value of Lego as an iconic brand. He was careful to note that Lego doesn't expect short-term profit from the museum; it's not meant to function like the Legoland theme parks, which incorporate amusement rides and other activities for big profit.

"It is not built with profit in mind," said Knudstorp. He went on to imply that the venture was a victory lap of sorts, calling it "a dividend from the owners to celebrate the idea behind the Lego brand and make that a physical manifestations available to the general public."

Block-Buster

Warner Bros. Entertainment's -- a subsidiary of Time Warner (NYSE: TWX) -- The Lego Movie was a big hit, with total earnings of $257,731,107 as of August 8 on an estimated budget of $60,000,000. The movie reached $69 million during its opening weekend in February. It holds a Rotten Tomatoes rating of 96 percent based on 198 reviews.

The response to the film, which was reflective of Lego's corporate spirit, highlights the interest in the company even further, as more big-budget Lego movies are slated to be released through the museum's construction and public debut.

Jason Cunningham had no position with the mentioned entities while writing this article. Visit Jason on Twitter at @JasonCunningham

Posted-In: Jorgen Vig Knudstorp Lego Lego GroupCNBC Topics Travel Media General Best of Benzinga

 

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