The LEGO Group’s financial results have revealed the long-term growth strategies for 2023, including a promised total number of LEGO stores.
The LEGO Group maintained steady profit despite profit drops in 2023 and this was explained by 'accelerated spending on strategic initiatives'. Those initiatives included improving shopper experiences across its own and its retail partners’ channels, expanding the global supply chain network, advancing digital ambitions and finally surpassing 1,000 LEGO stores worldwide.
As was promised in July 2023, there are now a total of 1,031 LEGO stores around the world after 147 were opened in 2023. For comparison, that's 10% of Walmart's over 10,616 stores worldwide, and those stores sell a lot more than just LEGO sets. It's a notable achievement for the LEGO Group after the first official store was opened in 2002 in Cologne, Germany.
The total number of stores includes 195 owned and operated by the LEGO Group – LEGO Brand Retail stores as well as 836 Certified and Travel stores that are owned and operated by partners. One of these latter stores was opened earlier this week in London Luton Airport.
147 stores opened in 2023 is a slight dip from the 155 opened in 2022, but it still brought the total to four digits. We can't imagine that the LEGO Group will be able to expand that to five digits anytime soon though. You can click here to see what else was discussed in the recent financial results.
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