Lego targets 50 India stores by 2030 – report

Danish toymaker Lego plans to grow its retail footprint successful India with 50 branded outlets by 2030, expanding successful 1 of its fastest-growing Asian markets.

The institution presently operates 4 stores crossed Gurugram, Bengaluru and Chennai, and intends to absorption connected large metropolitan areas for its adjacent signifier of expansion.

According to a Reuters report, which cited Lego India's state manager Bhavana Pandey Mandon, online channels relationship for astir fractional of Lego’s India gross portion speedy commerce contributes conscionable implicit 10%.

Mandon was quoted arsenic saying: “India is 1 of the biggest markets from a imaginable position wrong Asia.”

She said the institution is fast-tracking the country's strategy and committing important resources to the effort, but she did not supply further specifics.

In India’s artifact sector, Lego competes against US-based Mattel and Hasbro, arsenic good arsenic home marque Funskool.

The company’s section concern has been expanding astatine much than 50% annually, importantly outpacing its single-digit planetary maturation rate.

Higher parental spending connected non-digital play products and expanding involvement among big hobbyists person supported demand.

Formula One-themed Lego sets person performed peculiarly strongly, with income surpassing expectations and placing India among the apical Asian markets for the scope successful 2025.

The study added that discussions with the Indian Government regarding imaginable home manufacturing are underway, though the institution has nary contiguous plans to commencement accumulation successful the country.

Lego positions itself astatine the premium extremity of the Indian marketplace done large, experience-focused stores successful metropolitan locations, supported by e-commerce and third-party retail to scope smaller cities.

Retail Insight Network has contacted the Lego Group for comment.

Last April, the Lego Group opened a $1bn manufacturing installation successful Binh Duong state successful confederate Vietnam.

The installation was described arsenic supporting determination maturation prospects and improving planetary merchandise availability.

It besides serves arsenic a template for the Lego Group’s Future Factory Workplace initiative, promoting sustainable, health-focused workplaces, worker recreation, assemblage engagement and improved on-site amenities.

"Lego targets 50 India stores by 2030 – report" was primitively created and published by Retail Insight Network, a GlobalData owned brand.

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