Sunday 22 April 2018
Danish toy manufacturer Lego has announced plans on March 6, 2018 to open an office in Dubai to expand its already-growing operations in the MENA region.
The city is home to six Lego stores. It also has a presence in Abu Dhabi and outlets in Kuwait and Bahrain. The company is seeing customer sales grow in seven of its 12 largest markets, including China, where it grew by double digits, even as declining revenues in North America and Europe contributed to an overall fall in profits from USD 1.56 billion in 2016 to USD 1.3 billion in 2017. Revenues fell 8 per cent to USD 5.83 billion from USD 6.31 billion the previous year.
With newer markets in focus, the company is planning to create a sustainable strategy for future growth.