News

Stores

Staff Reporter

, Vietnam

Published:

1 year ago

219 views

Logo from LEGO Group.

LEGO Group expands manufacturing in Vietnam

It will also open a factory in the US state of Virginia.

Denmark-based LEGO Group will be opening two new factories, one of which is in Binh Duong in Vietnam which is expected to operate in 2024.

According to LEGO, the other factory will be in Richmond, Virginia in the US which is set to operate in 2025.

The Vietnam factory is the company's second in Asia with the other one in Jiaxing in China. It also has hubs in the region in China and Singapore.

The company reported a 4% year-on-year (YoY) growth in net profit to around $1.99b (DKK13.8b) despite inflationary pressures on materials, freight and energy costs.

Its revenue also rose 17% YoY to around $9.3b (DKK64.6b) due to strong demand for its portfolio, retailer partnership online and in-store, “a robust e-commerce platform and a resilient global supply chain network.”

$1 = DKK6.93

Follow the link for more news on

LEGO Group

Also Read

Tuan Sing and Mitsubishi Estate open Indonesia’s first int'l luxury outlet mall

The Coffee Bean & Tea Leaf balances quality and convenience through retail products

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Tuan Sing and Mitsubishi Estate open Indonesia’s first int'l luxury outlet mall

It offers discounts of up to 70% daily.

Stores

21 hours ago

FMCG growth slows down in Mainland China

The sector grew by approximately 2% in value in Q1 2024.

22 hours ago

Enhanced protections for retail workers in Australia urged amidst crime surge

Key demands include stricter laws, better retailer-police collaboration, improved data sharing, and more technology.

1 day ago

Retailers adapt to new business models and changing shopper trends

Digitalisation has led to new models like marketplaces, direct-to-consumer, and social commerce.

1 day ago

Exclusives

The Coffee Bean & Tea Leaf balances quality and convenience through retail products

It expanded its product range, including a variety of single-origin coffees tailored to different roast preferences.

Stores

1 day ago

KCG masters brand positioning for Indonesia’s premium segment

It adopts the latest tech-based solutions to better manage 92 retail stores across 20 cities in Indonesia.

4 days ago

Here’s why luxury brands are increasing AI investments

The sector has invested over $360m in AI over the past three years.

Fashion

Bacha Coffee masters sensory-rich retailing in Jakarta

Blending heritage and luxury, Bacha Coffee Plaza Senayan immerses Indonesian coffee lovers into a unique experience.

Event News

Retail Asia Awards 2024 Winner: GMG

Paul Thompson, Operations Director - Asia at GMG, highlighted their unique offers and digital enhancements that increased their traffic and sales amidst the opening of the Nike Orchard Road Store.

MATRADE urges businesses to embed ESG to thrive in $13-T green economy

Technology Stibo Systems provides advanced strategies for seamless retail data integration

Co-Written / Partner TOBY'S SPORTS triumphs at Retail Asia Awards 2024

Retail Asia Awards 2024 Winner: GMG

Paul Thompson, Operations Director - Asia at GMG, highlighted their unique offers and digital enhancements that increased their traffic and sales amidst the opening of the Nike Orchard Road Store.