What LIBELLUD does

LIBELLUD is a French board game publishing studio headquartered in Poitiers, France, founded in 2008 and operating as a wholly-owned subsidiary of Asmodee Group since July 2020. The studio designs, develops, and publishes physical tabletop games for families, hobbyists, and casual gamers, with a portfolio centered on the flagship Dixit image-interpretation franchise and the Mysterium cooperative investigation series. Its product surface spans base games, expansion packs (including 9 cross-compatible Dixit expansions), licensed editions (notably the Disney collaboration), and adjacent formats such as 500 and 1000-piece jigsaw puzzles under the Dixit brand. Core differentiators include proprietary game mechanics — image interpretation, dice crafting with removable faces (Dice Forge), asymmetric cooperative ghost-medium communication (Mysterium), and limited-communication cooperative play (Take Time) — combined with a distinctive illustration-driven aesthetic delivered by a stable of named illustrators including Marie Cardouat, Xavier Collette, Maëva Da Silva, and Maud Chalmel. The studio has produced over 1,000 unique Dixit cards since inception and has won multiple international awards, including the As d'Or 2009 and the Spiel des Jahres 2010 for Dixit, and the As d'Or 2016 for Mysterium.

The studio operates with approximately 20 full-time staff and generates revenue through one-time unit sales of physical board games and card games at publisher-set suggested retail prices. Distribution is handled exclusively through Asmodee Group's international network, with regional Asmodee entities managing sales and after-sales service across France, Germany, Belgium, Spain, Italy, UK, Netherlands, Nordics, Switzerland, Poland, USA, and Chile. Customer segments are diversified across families, board game hobbyists, and cooperative gamers, with a niche but documented secondary use case in therapeutic and educational settings. Marketing is conducted through the company website, social media, press resources, gaming conventions (including the Festival International des Jeux de Cannes), and tournaments — all aimed at consumer awareness rather than enterprise sales. The business model is a classic publisher model: develop differentiated IP, license through a global distribution partner, and monetize through unit sales plus a steady stream of expansion packs that deepen the collectible ecosystem.

Name

LIBELLUD

Legal name

Libellud (Studio de jeux de société sous Asmodee Group)

Website

https://libellud.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

LIBELLUD is a French board game publishing studio founded in 2008 in Poitiers, acquired by Asmodee Group in 2020. It designs and publishes physical tabletop games, including the flagship Dixit image-interpretation franchise, Mysterium cooperative series, and newer titles, distributed globally through Asmodee.

Ownership category

akta.pro rank

Product category

Board Games

NAICS

Newspaper, Periodical, Book, and Directory Publishers (5131)

SIC

Games, Toys & Children's Vehicles (No Dolls & Bicycles) (3944)

akta.pro primary industry

Miniatures Games & Tabletop Skirmish Games Retail (CRALALAH)

Keywords

• Board game publishing
• Card game design
• Cooperative board games
• Family tabletop games
• Image interpretation games

Headquarters

HQ city

Poitiers

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Board Game Sales: Libellud generates revenue through the sale of physical board games, card games, and puzzles. The company publishes base games and multiple expansion packs, with each Dixit game containing 84 illustrated cards. Products are distributed globally through Asmodee's international network.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

LIBELLUD is a French board and card game publishing studio that designs, develops, and publishes tabletop games for families and hobbyists, including flagship franchises such as Dixit and Mysterium, alongside games like Dice Forge, Seasons, Harmonies, Obscurio, and Shadows Amsterdam, as well as jigsaw puzzles. Since its acquisition by Asmodee in July 2020, the studio's titles are distributed internationally through Asmodee's global retail and wholesale network.

Product overview

Libellud is a French board game publisher founded in 2008, acquired by Asmodee in July 2020, specializing in family and expert tabletop games. The product portfolio centers on three major universes: Dixit (image interpretation card games with 9 expansions), Mysterium (cooperative psychic investigation), and standalone titles. Core products include: Dixit, Dixit Odyssey, Dixit Disney, Stella-Dixit Universe, and 9 Dixit expansions; Mysterium, Mysterium Park, Mysterium Kids, and 2 Mysterium expansions; Harmonies (landscape creation) with Harmonies Pulse mini-expansion; Take Time (cooperative clock challenges); Dice Forge and Dice Forge Rebellion (dice crafting); Seasons with 2 expansions; Obscurio (image interpretation with traitor); Shadows Amsterdam; One Key; and Loony Quest. The company also offers Dixit Puzzles (500 and 1000 piece jigsaw puzzles). Dixit is the flagship franchise with over 1000 cards created since 2008 and won the Spiel des Jahres 2010 and As d'Or 2009.

Differentiator

Problem solved

Functional benefit

Brands

• Dixit: The flagship image-interpretation card game franchise created by Jean-Louis Roubira, featuring illustrations by Marie Cardouat and others. Includes base game, multiple expansions (Quest, Journey, Origins, Daydreams, Memories, Revelations, Harmonies, Anniversary, Mirrors), Dixit Odyssey, Stella – Dixit Universe, and Dixit Disney.
• Mysterium
• Dixit Puzzles
• Harmonies
• Take Time
• Dice Forge
• Seasons
• Obscurio
• Shadows Amsterdam
• One Key
• Loony Quest

Products and services

• Dixit An award-winning image interpretation card game in which a storyteller gives a clue for a dreamlike illustration and other players vote on which card matches; designed for families and casual players aged 6+. Dixit has been translated into more than 25 languages and is Libellud's flagship franchise.
• Dixit Odyssey Standalone large-group edition of the Dixit universe with expanded player counts and additional boards, designed for bigger gatherings of family and casual players.
• Dixit Disney Disney-licensed Dixit edition featuring iconic Disney and Pixar artwork, targeted at families and Disney fans.
• Stella – Dixit Universe Standalone word-association party game in the Dixit universe, in which players give clues to identify keywords; designed for family and casual play.
• Dixit Puzzles Line of jigsaw puzzles illustrated with artwork from the Dixit universe, sold as standalone puzzles for puzzle enthusiasts and Dixit fans.
• Mysterium Fully cooperative asymmetric board game in which one player acts as a ghost giving visual dream clues while the other players, as mediums, attempt to solve a murder; targeted at families and hobby gamers.
• Mysterium Park Standalone cooperative spin-off of Mysterium set in a theme park, with simplified rules designed for a broader family audience.
• Mysterium Kids Child-friendly cooperative game set in the Mysterium universe, designed for younger players and family play.
• Dice Forge

Quantifiable outcome

• Dixit won Spiel des Jahres 2010, establishing global recognition
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered flagship, minor and core.

• DisneyflagshipStrategic or Co-development PartnerLicensing partnership to create the Dixit Disney edition, featuring 84 cards based on classic Disney and Pixar films from Steamboat Willie to Alerte Rouge. Illustrators create custom artwork inspired by Disney characters and stories.
• Dice TowerminorOthersLibellud games have been recognized with the Dice Tower Seal of Excellence, a quality certification from the prominent board game review channel.
• International distributors (Asmodee Germany, Belgium, Chile, Spain, USA, Italy, Netherlands, UK, Nordics, Switzerland, Poland)coreChannel Partner/ Reseller/ DistributorAsmodee Group operates regional distributors across Europe and Americas including Germany, Belgium, Chile, Spain, USA, Italy, Netherlands, UK, Nordics, Switzerland, and Poland (Rebel Studio). These partners handle after-sales service and local distribution.
• Festival des Jeux CannescoreGTM or Marketing PartnerLibellud partners with the Festival International des Jeux de Cannes for game nominations (As d'Or awards) and hosts tournaments including Harmonies tournament at FIJ Cannes 2026.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Z-Man Games: Asmodee-owned tabletop publisher with a deep catalog including Pandemic and Carcassonne. Comparable as a fellow Asmodee subsidiary in hobbyist/family tabletop publishing.
• Fantasy Flight Games: Major Asmodee-owned publisher spanning board, card, and miniature games (Arkham Horror, Star Wars, X-Wing). Comparable as a fellow Asmodee studio with significantly broader portfolio scale.

Emerging players

• Stonemaier Games: Independent tabletop publisher behind Wingspan, Scythe, and Viticulture. Comparable because of award-winning family/strategy focus and the use of crowdfunding alongside retail channels.
• Pandasaurus Games: US-based tabletop publisher with a curated family and hobbyist portfolio (Everdell, Dinosaur Island). Comparable because of similar premium, art-forward family/hobbyist game positioning.

Direct peers

• Days of Wonder: Asmodee-owned tabletop publisher behind Ticket to Ride and Small World. Comparable because of shared parent, shared award-winning family/hobbyist game portfolio, and shared premium-positioning strategy.
• Iello: French-originated tabletop publisher (King of Tokyo, Bunny Kingdom) with strong family/party positioning. Comparable because of similar family-game focus, French publishing heritage, and global distribution ambitions.
• CMON: Independent tabletop publisher known for Kickstarter-driven and hobbyist titles (Zombicide, Blood Rage). Comparable because it operates in the same premium tabletop segment with international distribution.
• Space Cowboys: Sibling Asmodee studio publishing mid-weight strategy and family games (Splendor, Unlock!). Comparable because of shared Asmodee distribution and overlap in the family/hobbyist tabletop segment.
• Repos Production: Sibling Asmodee studio publishing cooperative and family strategy games such as 7 Wonders and Concept. Comparable because it shares the same parent distribution network and the same family/strategy tabletop focus.

Regional players

• Cranio Creations: Italian tabletop publisher with a portfolio of family and strategy games including Lorenzo il Magnifico. Comparable because of similar mid-weight family/strategy positioning, though primarily European distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/libellud
• Xx.com/Libellud
• Facebookfacebook.com/libelludgames

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LIBELLUD