I guess with all the talk of the pound sterling losing value against all the major currencies since Brexit, It was only a matter of time before British LEGO fans felt the pinch! Sadly that day will happen sooner than most guessed. LEGO UK and Ireland’s General Manager/Vice President Fiona Wright have recently advised all UK retailers that wholesale price of all LEGO products will increase 5% from the 1st January 2017.
Image compliments of Smith Movies
If that wasn’t bad enough there was also an ominous warning to expect further price hikes should the situation in the UK not improve and settle down. LEGO is not alone in the recent price rises and follows in the path of some of the industry’s giants like Apple and Microsoft. All forced to react to the sudden decline in value of the pound sterling.
But at the end of the day what does it really mean for everyone in the UK. If the retailer passes on the price hike (likely) it would mean a few pence to a few pounds on smaller to medium sets. However, it starts to bite when you buy some of the larger sets such as the new Death Star 75159 at £400. Depending on the margin the shop adds the hike is likely to be around £20.
In case anyone doesn’t believe me I have included a screen grab of the Letter sent to all UK retailers (compliments of Robb Lewis @ over on Twitter) – Sorry to be a bearer of bad news, but looks like the land of milk and honey promised post Brexit isn’t coming to fruition for LEGO fans at least!
Happy Building (if you don’t run out of money first)!