Lego targets 50 India stores by 2030 – report

Core Insights - Lego plans to expand its retail presence in India by opening 50 branded outlets by 2030, focusing on major metropolitan areas [1] - Online sales account for about 50% of Lego's revenue in India, with quick commerce contributing over 10% [2] - The local business is growing at over 50% annually, significantly outpacing the global growth rate, which is in single digits [3] Expansion Plans - Currently, Lego operates four stores in Gurugram, Bengaluru, and Chennai, with plans for significant expansion in the Indian market [1] - The company is fast-tracking its strategy in India and committing substantial resources, although specific details were not disclosed [2] Competitive Landscape - In the Indian toy sector, Lego competes with Mattel, Hasbro, and local brand Funskool [3] - Increased parental spending on non-digital play products and interest from adult hobbyists are driving demand for Lego products [3] Product Performance - Formula One-themed Lego sets have exceeded sales expectations, positioning India as a top market for this product line by 2025 [4] - Discussions are ongoing with the Indian Government regarding potential domestic manufacturing, although no immediate production plans exist [4] Market Positioning - Lego targets the premium segment of the Indian market with large, experience-focused stores, complemented by e-commerce and third-party retail to reach smaller cities [5] - A $1 billion manufacturing facility was opened in Vietnam to support regional growth and improve product availability [5]