VTech’s annual performance of the epidemic broke records, and the European segment increased by 22.6%

by:Ennas      2022-01-10
VTech disclosed in its latest fiscal year ending March 31, 2021 that VTech Group’s group revenue reached a record US$2.3732 billion, a year-on-year increase of 9.5%. The company reported record revenues and profits. All three product lines achieved growth. Sales growth in North America, Europe and Asia Pacific offset sales declines in other regions. North America Performance In fiscal 2021, North American Group revenue increased by 0.6% to US$995.1 million. This was because sales growth of e-learning products and communication products offset the decline in sales of CMS. North America has become VTech’s second largest market, accounting for 41.9% of the group’s revenue. The revenue of e-learning products in North America increased by 8.8% to 536.9 million Canadian dollars, and the company showed good growth in Canada. The overall market has grown, and VTech’s sales to online retailers have achieved double-digit growth. The group also gained market share and consolidated its position as the number one manufacturer of e-learning toys for infants to toddlers and preschoolers in the United States. At the same time, as parents and children spend more time at home, the epidemic has stimulated the demand for e-learning toys, and independent play products have performed well. The growth of independent play products comes from higher sales of LeapFrog and VTech brands. LeapFrog's sales growth is particularly strong. Preschool products with obvious educational value, including 'Learning Friends 100 Words BookThe Blues Clues u0026 You! 'The Blues Clues u0026 You!' series of licensed products performed strongly, and the sales of Really Smart Handy Dandy laptops were particularly outstanding. However, sales of LeapBuilders declined. LeapBuilders VTech's independent play products benefited from the growth in sales of infant products, KidiZoom cameras, other Kidi series products and the Go! Go! Smart product family. These increases offset the decline in preschool products. In the Go! Go! Smart Wheels series, the Ultimate Corkscrew Tower (Ultimate Spiral Tower) was launched. At the same time, based on the success of the popular robot toy robot toy magic unicorn Myla, VTech launched Myla’s sparkling friends. A series of toys use fantastic characters to bring color games to life. Go! Go! Cory Carson's vehicle and toy portfolio also contributed to sales in the 2021 fiscal year, supporting growth. Seasons 1, 2 and 3 of the associated animated series are now available worldwide on Netflix. Sales of North American platform products declined slightly. At VTech, sales of platform products declined because the higher sales of Touch u0026 Learn Activity Desk were not enough to make up for the lower sales of KidiZoom Smartwatches and KidiBuzz. The magical world of adventure For LeapFrog, the platform product business has generally declined. Sales of the brand’s children’s educational tablets and Magic Adventures Globe increased, offsetting the decline in interactive reading systems and RockIt Twist. LeapFrog Academy’s subscriptions have increased significantly in the 2021 fiscal year. European performance European Group’s revenue increased by 22.6% in fiscal 2021, reaching US$1.0863 million, because sales growth in ELP and CMS offset the decline in revenue from TEL products. Europe is VTech’s largest market, accounting for 45.8% of the group’s revenue. Revenue from e-learning products in Europe increased by 5.4% to 351.2 million U.S. dollars. Growth slowed in the second half of the year, but the closure of the area forced the closure of stores selling non-essential goods. Geographically, sales in France, the United Kingdom, Germany and the Netherlands have increased, while Spain has decreased. Among independent play products, the VTech and LeapFrog brands both achieved higher sales. For the VTech brand, e-learning aids, KidiZoom cameras, other Kidi series products and Switchu0026Go Dinos led the growth. This offset the decline of Toot-Toot series products. In the 2021 fiscal year, sales of infant products and pre-school products have basically remained stable. In September 2020, Go! Go! Cory Carson's vehicles and toys were introduced to major European markets under the name Toot-Toot Cory Carson, which supported the growth of independent play products. The sales of LeapFrog's infant products and pre-school products are increasing. Among them, Learning Friends 100 Words Book and 100 Animals Book have a high sales rate. This offset the decline in LeapBuilders / Bla Bla Block. Sales of VTech and LeapFrog go green platform products declined because the growth of LeapFrog branded products was not enough to offset the decline in VTech branded products. For LeapFrog, the revenue growth was driven by sales growth in the magical adventure world Magic Adventures Globe and interactive reading systems, which offset the decline in RockIt Twist and children’s educational tablets. In VTech, the higher sales of Touch u0026 Learn Activity Desk could not offset the lower sales of children's educational tablets and KidiCom Max.
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