MUMBAI, Feb 17 (Reuters) – Danish toymaker Lego plans to open 50 stores in India by 2030, ramping up investment in one of its fastest-growing Asian markets, as rising incomes and demand for screen-free play power growth, a senior executive said.
The family-owned company, known for its colourful building blocks, competes with U.S. toymakers Mattel and Hasbro and domestic brand Funskool in India’s toy market, which consultancy Ken Research valued at about $1.8 billion.
“India is one of the biggest markets from a potential perspective within Asia,” Bhavana Pandey Mandon, country manager for Lego India, told Reuters on the sidelines of an event.
The company has an accelerated plan for India and is deploying significant resources, she said, without giving details.
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Lego has positioned itself at the premium end of the Indian market, focusing on large, experience-led stores in metros while using online and other physical stores to reach newer cities.
It currently operates four branded stores in Gurugram, Bengaluru and Chennai, and plans to prioritise major metros for further expansion.
Mandon said online accounts for about 50% of its India sales and quick commerce accounts for just over 10%.
Parents’ rising willingness to spend on screen-free play and strong demand from adult hobbyists have helped drive Lego’s p