Lego Will Ramp Up Online Marketing in China, CEO Says
Le Yan
DATE:  Sep 29 2017
/ SOURCE:  Yicai
Lego Will Ramp Up Online Marketing in China, CEO Says Lego Will Ramp Up Online Marketing in China, CEO Says

(Yicai Global) Sept. 29 -- Lego Group will step up online marketing operations in China through collaboration with leading internet companies in the country, Jorgen Vig Knudstorp, the group's chief executive, told Yicai Global.

China is one of Lego's fastest-growing markets, especially in terms of web business growth, Knudstorp said. The company will rev up the implementation of its digital innovation strategy and introduce more interactive features to its products, he said.

Headquartered in Billon, Denmark, Lego is one of the world's largest toy producers. Its annual sales in Asia have grown by more than 50 percent in recent years, making the continent a key market for the global toy giant. It opened its first Asian factory in Jiaxing in China's eastern Zhejiang province.

The company suffered a slip in total income and net profit this year as of June 30. Despite falling revenues in the US and some European countries, its Chinese sales posted two-digit growth over the same period.

"It is clear in the financial statements that China is one of the most promising markets now, and has posted remarkable sales growth, so we will ramp up business development activities, especially online sales channel development, in the Chinese market," said Knudstorp. "We'll strengthen cooperation with Alibaba Group Holding Ltd. [NYSE:BABA], Inc. [NASDAQ:JD] and Tencent Holding Ltd. [HKG:0700] in sales and online entertainment businesses."

Lego will introduce a digital system to make toys more interactive. Customers will be able to make simple Lego movies, direct Lego drilling vehicles, work out their own city plans and build Lego robot restaurants.

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Keywords:   Lego,E-COMMERCE