The privately-owned Danish agency stated it should make investments greater than $1 billion in the mission, which will likely be its second Asian factory after it opened one in China in 2016. Lego has achieved double-digit development in the area since 2019.Demand is now on observe to outstrip provide from its Chinese plant in the mid to long run, Lego's Chief Operations Officer Carsten Rasmussen informed Reuters."Growth in China and Asia is fantastic and we can see that over time that we will need more capacity," he stated, pointing to a rising center class and excessive variety of births in the area in comparison with more mature European and North American markets.The transfer is the most recent in Lego's decade-old technique of inserting manufacturing near key markets, which has helped rein in prices and protect it from exterior components.
"It gives us shorter delivery time to our customers and make us able to react quickly on demand but it of course also makes us more resilient," Rasmussen stated.He added that the choice to construct in Vietnam had not been accelerated by current international provide chain disruptions.It may also be Lego's first carbon impartial factory because it plans to match the vitality consumption with solar energy from panels on its roof and from a close by farm.Although Lego nonetheless makes bricks out of oil-based plastic, it has pledged to interchange these with ones produced from sustainable supplies by the tip of the last decade.The factory, which is set to start out manufacturing in 2024 and can make use of as many as 4,000 individuals, would add a "significant addition" to Lego's annual manufacturing of roughly 100 billion bricks, Rasmussen stated, declining to provide more element.Lego, an abbreviation of "leg godt" which means "play well" in Danish, is additionally increasing capability in Mexico, Hungary and China and including equipment at its Danish and Czech crops, he stated.
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