Lego CEO: Sales soar in 2020 thanks to strong China growth

Danish toymaker Lego Group saw consumer sales in all market groups grow in double digits last year, with especially strong growth in China, according to its annual financial report.

Lego’s revenue grew 13 percent in 2020 year on year, and consumer sales grew 21 percent over the same period.

China accounted for a lion’s share in Lego’s global store expansion plan. In 2020, it opened 134 new retail stores, including 91 stores in China. It plans to open a further 120 stores in 2021, with 80 of those in China.

Lego Group CEO Niels Christiansen said it managed to achieve its growth goals in China by giving a local spin to products and through e-commerce.

The global toy company launched a Lego Monkie Kid series. It successfully created a Lego story based on the Chinese legend of the Monkey King.

Lego also opened a Taobao Mall flagship store in China last year, which attracted more than a million members and followers shortly after its debut.

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