"And vice versa for F1, they see their audiences growing the other way, from adults down to teens and kids.
So it was kind of a great opportunity, very symbiotic for us to increase our audiences," she added.
Unique Value Through Hands-On Experience
Lego intends to build unique value through the multi-year agreement rather than relying on traditional licensing frameworks.
"The second element, that I think is the most critical, is: what kind of value can you bring together to something?"
said Goldin.
The current product strategy deliberately incorporates diverse price points and complexity levels to attract different segments of the market.
"I think we have proven that together we do something really unique," said Goldin.
The company designed specific sets, such as Lego City pitstops and trucks, to help younger fans understand racing principles.
"It's super important from different perspectives," said Goldin.
Collectible items target consumer preferences for gathering complete sets, while high-end product lines serve a different purpose.
"Some people really love to collect. So we really wanted to offer that collectability," said Goldin.
The Technic product range focuses heavily on replicating the mechanical details of actual racing machinery for older enthusiasts.
"For children, understanding the F1 racing principles, what actually happens, is also very important, which is why in our City sets we brought in the pitstop, the preparation, the F1 truck," said Goldin.
The interactive nature of building blocks differentiates the brand from standard corporate sponsorships by offering hands-on experiences.
"And then for the Technic fans, those are very authentic representations of the cars," said Goldin.
