Lego Group records double-digit growth, plans 80 new stores

"For the past two years we've made large-scale investments in initiatives designed to support long-term growth. In 2020, we began to see the benefits of these, especially in e-commerce and product innovation," Niels B Christiansen, CEO of the Lego Group, said.

"We will further increase investments during the coming year with a continued focus on innovating play, our brand, digitalization and developing an omnichannel retail network."

Last year the group opened 134 new retail stores, including two flagship stores and over 80 certified stores in China. This brings the total number of Lego-branded stores globally at the end of 2020 to 678.

The company plans to open a further 120 stores in 2021, 80 of those in China. The Lego Group's stores are expected to be located in 85 cities in the country as it looks to get into 20 new cities this year, said Paul Huang, senior vice-president of the Lego Group and general manager of Lego China.

Huang said last year the company entered 27 new cites in China, where many children have experienced Lego bricks for the first time.

For example, the Danish toymaker is opening a store in Zunyi, Southwest China's Guizhou province, next month.

An innovative and agile omnichannel retail ecosystem continues to matter for the Lego Group.

"People are looking for unique and memorable physical brand experiences, so we will continue to invest to expand our global retail footprint, as well as elevate our instore shopping experiences," Christiansen said.

"This approach strengthens our brand, creating a positive impact across all channels. We also will further build our e-commerce capabilities to support online shopping on our own and our partners' platforms."