NUREMBERG: Danish toymaker Lego plans to more than double the number of shops in China this year 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 in an interview.
Lego plans to have around 140 shops in 30 different Chinese cities at the end of the year, 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,” Chief Executive Niels B Christiansen said at a toy fair in Nuremberg. — Reuters
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