Visitors view a Chinese courtyard built by Lego bricks during the third China International Import Expo (CIIE) in Shanghai, east China, Nov. 8, 2020. (Xinhua/Zhang Haofu)
The total number of LEGO stores globally has reached 737 at the end of June, of which 291 are in China.
COPENHAGEN, Sept. 28 (Xinhua) -- The LEGO Group continued its global expansion with the opening of more than 60 new LEGO branded stores in the first half of 2021, of which more than 40 are in China, according to a press release issued on Tuesday.
The total number of LEGO stores globally has reached 737 at the end of June, of which 291 are in China.
The Group's revenues grew by 46 percent to 23 billion Danish kroner (about 3.6 billion U.S. dollars) in the first half of 2021, with sales to consumers up by a strong 36 percent, compared with the same period of 2020, according to half-year accounts published by the company on Tuesday.
"Ambitious, strategic global investments" were identified by the company as the main catalyst for profitability.
Visitors make Lego creations at the Consumer Goods exhibition area during the third China International Import Expo (CIIE) in Shanghai, east China, Nov. 8, 2020. (Xinhua/Zhang Haofu)
The Danish family-owned toy group also said the lifting of COVID-19 restrictions was an important factor for profits.
"Fewer COVID-19-related restrictions than in 2020 have contributed positively to our growth, as our factories were able to produce without disruption, and the majority of the stores are open again," said Niels B. Christiansen, CEO of the LEGO Group, in the press release.
"In the second half of 2021, we expect the great demand for our products to continue. However, when consumers return to the same consumption patterns in the longer term as before the pandemic, we expect growth in the top line to stabilize to a more sustainable level," said Christiansen.
Accordingly, the LEGO Group will accelerate investments in digital transformation during the second half of 2021.
"We clearly saw the benefits of our investments over several years in e-commerce, product innovation and a robust, global supply chain. Our strong financial results now make it possible to accelerate our strategic investments in sustainability and digitalization," said Christiansen.
Photo taken on Nov. 8, 2020 shows the famous cartoon figure Monkey King built by Lego bricks at the Consumer Goods exhibition area during the third China International Import Expo (CIIE) in Shanghai, east China. (Xinhua/Zhang Haofu)■
