China, the growing toy market attracts foreign companies

07/06/2019

 

This is confirmed by a report by China Toy and Juvenile Products Association

 

The toy market in China is growing and, in recent years, has attracted the attention of foreign companies.

In 2018, in fact, domestic toy sales reached over 70 billion yuan, up 9% from the previous year, while traditional toy imports were worth about $ 649 million, a year-on-year increase of 15.9 %. This is confirmed by a report by China Toy and Juvenile Products Association.

 

The toy giant Lego is also optimistic about the toy market in China

 

“Since we entered the Chinese market in 2006, we have built more than 180 stores. We expect to open another 400 in the next three or four years,” said Zhuge Min, CEO of Toys “R” Us in China, a multinational toy company.

The toy giant Lego is also optimistic about the toy market in China. A senior manager of the company said that the company’s sales in China have increased rapidly over the past four years. In fact, there are currently 78 retail stores in China. That number will rise to 140 by the end of 2019. In the future, Lego plans to expand its business by selling more products to children in rural areas who find it more difficult to access toys than their urban counterparts.

 

 

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