LEGO remains optimistic about its long-term prospects in China and plans to continue piling up investments in the country, such as with the upcoming Legoland Shanghai Resort and culturally inspired toys, said Niels B. Christiansen, CEO of LEGO Group.
Christiansen, CEO of the Denmark-based toy giant, outlined the company's future investment strategies and expressed confidence in the Chinese market during a recent interview with China Global Television Network (CGTN), which took place during his visit to Shanghai. There, he met with Gong Zheng, mayor of Shanghai, to discuss the establishment of a LEGO theme park in the city.
He highlighted China's education-minded parents as a key driver of growth, reaffirming LEGO's commitment to this promising market.
"I'm very confident. If I look at it from my position as the CEO of the LEGO Group, the opportunity in China, the amount of children in China, the amount of focus on education, on understanding some of the importance of what you learn through play is just there. So, I have no doubt about the long-term potential. The future is interesting and is bright, and we are committed to be part of that, and to invest into that," he said.
Christiansen also emphasized that the toy giant has bet big on the development of the Legoland Shanghai Resort, set to open in the summer of 2025.
"We are investing in a Legoland park in Shanghai, a very big amusement park where kids and families can really enjoy the LEGO brand and can live it out in a physical version. Opening next summer, that's something that has a high focus and takes a lot of investments from our side as well," said the CEO.
Looking ahead to the China International Import Expo (CIIE) in Shanghai this November, Christiansen expressed excitement about taking this expo as a platform to launch special products and new innovations while deepening connections with Chinese consumers and partners.
"I was actually there the first opening and have been there several times. And it's been amazing to see how popular the Lego booth at this CIIE has been on this. And we've used it as an opportunity to launch special products that tie into Chinese culture. We have some very special Chinese New Year products every year that I think people look forward to. They are always announced that the CIIE. There we will typically unveil some of the new innovations and new ideas within that. So it's a good occasion for us to get connections and to really also promote what we do that's special for China," he said.
LEGO confident in stacking long-term growth in China: CEO
