Lego protests platform's inadequate content supervision and stops 30-day social media advertising

On July 2nd, Lego, the largest toy manufacturer in Europe, announced that it would stop placing various advertisements on social media for at least 30 days. Many companies have previously announced similar measures to protest the ineffective supervision of social network platforms that promote hatred and misleading content. Lego said in a statement released on Wednesday that it will carefully evaluate advertising standards during this period. Lego will not reduce the total media budget, but will invest in other channels during this period. Lego Chief Marketing Officer Julia Goldin said: We are committed to having a positive impact on children and the world they will inherit. This includes building an inclusive and positive environment, free of hate speech, discrimination, and misinformation. (Viking) It is reported that the LEGO Group recently opened its fourth brand flagship store in Hangzhou, China. The LEGO Group has previously announced that the Group plans to open 80 stores (including authorized specialty stores) in China this year and enter about 20 stores. A new city, and the store plan will not be affected by the epidemic. Huang Guoqiang, senior vice president and general manager of the Lego Group in China, told the 'Daily Business News' reporter today that by the end of this year, the Lego Group will open more than 220 stores (including authorized stores) in China, covering more than 50 cities. According to Qixinbao's information, Lego Toy Manufacturing (Jiaxing) Co., Ltd. was established in June 2013. This is one of the five manufacturing plants of the Lego Group worldwide. In June 2014, Lego Toys (Shanghai) Co., Ltd. was established. According to the Lego Group, Lego opened its first brand flagship store in Shanghai Disney Town in 2016. Prior to this, Lego toys were only sold in the Chinese market in the form of export trade. Huang Guoqiang, senior vice president and general manager of the Lego Group in China, said today that since 2016, Lego has developed very fast in the Chinese market, basically with double-digit growth rates. At present, we have a total of four flagship stores in China. Among them, one is in Beijing and two are in Shanghai. The fourth one was opened in Hangzhou today. In addition, there are 169 authorized stores in more than forty cities. In addition, we also attach importance to online channels and have worked closely with digital platforms such as Alibaba and JD.com, hoping to reach more consumers in areas where we have not yet opened stores. Huang Guoqiang further stated that by the end of this year, the Lego Group will open more than 220 stores (including authorized stores) in China, covering more than 50 cities. Previously, according to the Group's 2019 financial report, as of the end of the reporting period, Lego had 570 stores worldwide, of which the Chinese market accounted for a quarter (including authorized stores). If starting with the opening of the first store in 2016, the Lego Group will open more than 200 stores (including authorized specialty stores) in China within five years. It is not difficult to find that the huge Chinese market has allowed the Lego Group to enjoy a lot of dividends. According to the group, the group has achieved a double-digit compound growth rate in the Chinese market in the past four years. In Huang Guoqiang’s view, Lego has developed steadily in the Chinese market. Our factory in Jiaxing in 2016 is the only Lego factory in the Asia-Pacific region. This shows our determination to develop in China for a long time. We believe that there are huge opportunities for development in the Chinese market. . At the same time, as the epidemic has a short-term impact, Lego said that it is still optimistic about the Chinese market. In addition, Lego’s authorized stores are not directly operated by the Lego Group, but are operated in cooperation with agents. In addition, Lego has more than one agent in China. Source: Daily Economic News, Sina Technology