The LEGO Group is looking to make inroads into India with new strategies to increase sales in the country.
Over the past two years, the LEGO Group has focused more on India as the company seeks to expand in emerging economics beyond the US and Europe. Going forward, the LEGO Group intends to bring more products in a price range between around $7.30 to around $73.00 to the market there. India is also under consideration for having the LEGO Certified Store format rolled out.
“In India, Lego was perceived to be a premium brand. But since the past two years, we have been working on going mass and expanding our consumer base,” said Senior Regional Sales Manager for South Asia, Amit Kararia when speaking to Retail News Asia. “E-commerce has also emerged as an important sales channel for us with nearly 25 per cent of our sales coming from this channel. It also helps us reach out to consumers where we are not present through physical stores.”
Specialist toy shops and department stores have expanded in India, providing new opportunities for toy manufacturers such as the LEGO Group. At the moment, the construction toy’s presence is small, only in around 40 stores. That is expanded to 60 shortly, which should provide double digit growth, albeit from a low base.
As the LEGO Group looks to secure its long term growth, India and China are considered two key markets for the future.