Lego Steps up Branding, Innovation to Tap China's Long-Term Market Potential
TMTPOST -- Global toy giant the LEGO Group said it would continue to invest in branding and innovation in the Chinese market to meet the diversified consumer demands amid an evolving retail landscape.
"The LEGO Group is committed to long-term development in China, as the market potential here is rather huge," Paul Huang, senior vice president of the LEGO Group and general manager of LEGO China, told Xinhua in a recent interview.
China is an important strategic growth market for the LEGO Group. Since its entry into the Chinese market in 1983, the group has opened over 400 stores in over 120 cities across the country to date.
While noting certain challenges facing the overall macroeconomy in recent years, Huang said the group is more focused on the future, and has been ratcheting up investment in various field to bring more joyful experiences to children in China.
The LEGO Group is expanding production capacity at its factory in Jiaxing City, east China, and is building a LEGOLAND in Shanghai, which is slated to open next year. It has also established a dedicated local digital technology team, which serves as one of the LEGO Group's four digital centers.
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