With a phenomenal sales growth and a Chinese factory on the way LEGO is strengthening its position in Asia.
In the first half of 2014 Danish toy manufacturer LEGO has increased their sales in China by 50 percent. Earlier this year Lego officially broke grounds of the first Lego factory in China and Bali Padda Executive Vice President and COO in Lego sees aopportunities in the area.
“There is a huge potential in Asia, and we are still learning and in the process of building our capabilities in the region. The factory and the office represent a significant expansion of our physical presence in the region,“ he says.
Everything is awesome
LEGO has experienced growth in all markets. According to the LEGO press release a significant contributor was the reception of LEGO Movie product line which exceeded all expectations.
“Consumer sales growth in Europe, the Americas, and Asia was in the double digits, which is very satisfactory in the light of the global toy market which experienced a slow start in 2014,” says Executive vice president and CFO, John Goodwin and adds that it is too early to say if the performance will be reflected in the full year results.