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Lego, which competes with toymakers such as Barbie maker Mattel Inc and Hasbro, said on Wednesday that global sales rose by 3 percent last year, while total revenue rose 4 percent to 36.4 billion Danish crowns ($5.5 billion). “We had aimed to stabilize the business in 2018, but have actually returned to moderate growth on all parameters in a very tough environment,” chief executive Niels B hermes h2 cufflinks. Christiansen said as operating profit grew by 4 percent to 10.8 billion crowns. Efforts to combine physical bricks with the digital world, including programming a Lego set to move and augmented reality, had also paid off in 2018, Christiansen told Reuters…
While Lego’s sales increased in all key markets, China was most notable with strong double-digit growth, while the United States and Western Europe returned low-single digit growth. In China, which still accounts for less than 10 percent of sales, the toymaker plans to more than double the number of stores to 140 this year. “Right now we’re not really limited by how private consumption is developing in China. It’s more our ability to develop our brand and expand to more Chinese cities that’s driving growth,” Christiansen said hermes h2 cufflinks.
While online and e-commerce sales continued to grow at the expense of physical stores, Christiansen said these remained key in order to expand the brand’s presence in new markets and give children “that magic experience”. Lego, which has no shops in India but sells via third party stores, has begun a push into the Middle East and North Africa. “India is the next big journey for us hermes h2 cufflinks. It begins now and over the coming three years we’ll begin to invest heavily in India,” Christiansen said..
HONG KONG (Reuters) – China’s CDH Investments is aiming to raise nearly $1 billion in dollar and yuan funds through its venture and growth capital arm to invest in sectors including healthcare and logistics, said people with direct knowledge of the matter hermes h2 cufflinks. The move by CDH, one of China’s largest alternative investment firms, underscores its confidence that investors are still keen on China’s fast-growing new-economy sectors despite its economic slowdown and tighter liquidity following Sino-U.S. trade tensions and Beijing’s war on debt..
CDH’s arm, CDH VGC, is in talks with prospective investors to raise a dollar-denominated fund of $500 million and looks to secure the first tranche of commitments by the first half of 2019, said one of the people hermes h2 cufflinks. It is also raising a yuan-denominated fund with a target size of about 3 billion yuan ($448 million), according to the person. The dollar fund will complement its onshore investments by focusing on Chinese firms using overseas structures such as variable-interest entities, said another person..