Mr Knudstorp added the restructuring will result in a “smaller and less complex organisation, which will simplify our business model in order to reach more children.. and impact our costs.”

“The global toy market has grown at a rate of 3pc so far this year so Lego is going against the flow but 10 years of consistent growth is a very good record,” said Frederique Tutt, global toy industry analyst at NPD.

“The toy market is changing and it is not video games and the internet that is the big challenger,” she added.

“Collectibles which tend to be cheaper are very popular, and something Lego only really does with mini-figures.”

Ms Tutt added that the fastest growing segment this year is games and puzzles, while internet-connected toys represent less than 2pc of the market.