Tuesday, January 28, 2020
Martin Hennecke

Demos knock down Lego sales
Toy retailer Kidsland International (2122) said the business at its four Lego-certified stores in Hong Kong declined 50 percent to 60 percent in July and August partly due to recent demonstrations and in line with the retail sector. The unrest led to the number of visitors to Hong Kong falling, and mainland visitors account for 35 percent of its Hong Kong business, said chief financial officer Hung Shing-ming. However, he believed a new product launched this month could help the company grow its Hong Kong business this year. Hung said there is still market demand in Hong Kong, and the unrest would not halt the company's expansion plans in the city. The company saw high growth in its mainland business. Kidsland closed 21 shops in the first half of the year, and Hung said it planned to close 10 more shops, while opening eight outlets in the mainland.
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