Not really a Barbie World: The toy market is slumping, with the majority of big-name companies — such as Mattel, Hasbro, Funko, and Jacks Pacific — seeing their sales and revenues figures falling in 1H 2023, the Financial Times reports. The slowed performance comes after a pandemic-fueled boom back in 2020, when children and adults alike were spending more time at home and e-commerce was on the rise.

The one company that’s doing okay: Lego. The plastic building-block maker saw its revenues rise 1% y-o-y in 1H 2023 — a modest increase, but significantly better than its competitors, whose revenues have all fallen at double-digit rates during the first six months of the year, according to CNBC. Lego’s performance comes after several years of outperforming its market competitors by around 10%, CEO Niels Christiansen tells CNBC. The company is also pushing through with further expansions, with plans to open 89 new stores around the world to expand its international market, with the lion’s share (54 stores) opening in China, where Lego has been gaining popularity. As its footprint grows, Lego is also looking to expand more efficiently, with plans including building more factories to cut down on shipping costs, Christiansen said.

The Saudi Pro League (SPL) recently coughed up over USD 650 mn to purchase players as it eyes joining Europe’s Champions League, Bloomberg reported. Purchasing players like Christianity Ronaldo, Karim Benzema, and Neymar are all part of a drive to “[do] whatever it takes to have those players coming to Saudi Arabia,” SPL COO Carlo Nohra tels the business information service.

Defying geography? If the Kingdom does join the Champion’s League, it wouldn’t exactly be a first. Some non-European countries, like Kazakhstan, are members of UEFA and compete in the tournament. But that remains to be seen for KSA since Chief of Football Zvonimir Boban reportedly stated that the SPL’s participation in the 2025 Champions League is merely a "fabrication."

It’s not just about football: The recent Saudi splurge and attempts to attract players like Messi and rumors to pursue Mo Salah are enshrined within a larger ambition. As the Kingdom seeks to “[make] the clubs and the league an investable asset,” as Nohra puts it, this is but one of many industries where Saudi Arabia's plan to diversify from oil is on display. And it seems the hefty spending has been paying off: Since Portugal's Ronaldo came to Al Nassr from Manchester United late last year, broadcast income has surged by 650%.

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