The LEGO Group’s 2020 annual report has shown great growth in its newest market, China, a region where the company will continue its focus according to the report.
The latter has proven a great success for the company with a 21% increase in sales, which is at least some part is thanks to the new audience of LEGO fans. To support this, the annual report mentions opening 80 more physical stores in China, adding to the 91 already-opened retail spaces.
Of course, we can’t mention 2020 and the LEGO Group’s expansion in China without mentioning Monkie Kid, the first LEGO theme based on a local Chinese legend that is only just entering its second wave of sets. No doubt this theme was integral in appealing to this new audience.
Even all that doesn’t encompass all of the LEGO Group’s efforts in the region though, with the annual lunar new year sets continuing into 2021. We shall have to see if these all contribute to another period of growth in next year’s annual report.