|Charissa Echavez |||Mar 26, 2016 05:49 AM EDT|
(Photo : Getty Image) Toymaker LEGO will open world's largest retail store in Shanghai in June 16
Added to the nearing grand opening of Shanghai Disney Resort on June 16, LEGO has announced it will also open the world's largest LEGO retail store on the same day.
The new store, which is the "first flagship LEGO store in all of Asia," will be more or less 1,000 square-meter and will be located in Disneytown, a new eating, shopping and entertainment district situated just outside the gates of Disneyland. It will showcase both indoor and outdoor interactive play areas, huge LEGO models and a wide range of stuff to buy.
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Meanwhile, LEGO CEO Jørgen Vig Knudstorp is confident of his plan to spread within China, as the People's Republic is one of the fastest expanding market for LEGO. He believes that China will soon join the United States and Germany as the top three largest LEGO markets soon.
"It will be a testament to our confidence in the China market," Jacob Kragh, LEGO China general manager, said during a recent call with the investors. In 2015, it has reported a 34 percent growth rate.
The Danish toy company already established more than 20 stores across China, but it does not stop there, as it plans to open a LEGOLand Discovery Center in Parkside Plaza in Shanghai on April 2. The new project reportedly costs 100 million RMB and will feature a 3,000-square meter mini-LEGOLand.
It is also constructing its own LEGO factory in Jiaxing, China, and is anticipated to start operations in 2017.
Shanghai, China's most populous and largest city, is home to Disney and Victoria's Secret's flagship stores.
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