Toymaker Lego aims at rapid expansion in China
Copycats remain a problem despite an announced government clamp-down
Nuremberg — Danish toymaker Lego plans to more than double the number of shops in China in 2019 to 140 in its most rapid expansion in any market as demand for its colourful plastic bricks remains unaffected by a broader slowdown in the economy. With declining or stagnating sales in its core US and Western European markets, China is still a bright spot for Lego though copycats remain a problem despite an announced government clamp-down, the head of the toymaker said. Lego plans to have about 140 shops in 30 different Chinese cities at the end of 2019, up from 60 shops at present, most operated by local partners. “I’m not really seeing any stagnation [in the Chinese toy market] at this time,” CEO Niels B Christiansen said at a toy fair in Nuremberg. China reported its slowest economic growth in 28 years in 2018, and a trade war with the US and rising amounts of personal debt have added to concerns about a slowdown in the world’s second-biggest economy. China, whose toy and games marke...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.