Everything is awesome as Lego looks to open more than 100 new stores
Lego will open 105 new stores across the world this year as the company was buoyed by its association with the Marvel franchise in the first half of the year.
The brick-maker is expanding rapidly across China where it expected to have 140 stores in 35 cities by the end of the year.
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Three of its four flagship stores are now in the country, however a fifth is set to open up later this year in Amsterdam.
Lego, which is still owned by the Kristiansen family, said that it was boosted by strong sales of its Marvel’s Avengers and Star Wars toys.
But traditional Lego bricks, such as its City and Technic ranges, were also among the bestseller in the first quarter of the year.
“We are pleased with the performance of our evergreen favourites,” said chief executive Niels Christiansen.
As the company continues to build in China, its boss pointed towards India as another strong growth market.
“We see an opportunity to reach more Indian children and families who value the benefits of learning through play. The growing middle class, importance of education and growing economy make India a logical next step in our efforts to reach many more children around the world,” he said.
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Total revenue rose four per cent to 14.8bn Danish krone (£1.8bn) in the period. Operating profit, however, fell 16 per cent to 3.5bn krone as the company invested in what it termed long-term growth initiatives.
Christiansen said: “We are making these investments from a sound financial base to capture the opportunities being created by mega-trends such as digitalisation and global demographic and economic shifts which are reshaping the industry. Being ahead of these trends will allow us to inspire future generations of children.”
Main image credit: Lego