Chenghai toys threaten Lego's toy status? It turns out that Lego is afraid of this...
In 2016, the LEGO Group achieved a relatively gradual but still gratifying growth momentum compared to previous years. Total revenue reached 37.9 billion Danish kroner (about 5.49 billion US dollars), an increase of 6% compared with 2015.
In the annual report, Lego also pointed to the important strategic position of the Chinese market. In November 2016, the Lego factory in Jiaxing, China was officially unveiled. The 165,000-square-meter factory is expected to produce 70%-80% of the total production of Lego products in Asia. % is regarded as the most important LEGO production plant in Asia.
Due to the popularity of Lego, the rise of the toy-studded toy has been promoted. In the past two years, the most popular and most stable toy category in China has been sold. When the number of toys was inserted into the building, the imported brands such as Lego gained rapid growth in the Chinese market in 2015. In addition to the popular style of plug-in toys, the domestic brands are also benefited. The rapid rise of their momentum has even made it difficult for import brands to perceive their market position. The rapid growth of domestic brands threatens the status of imported products.
Looking at the statistics of the national toy products import and export statistics of the past two years, the total import value of the two types of products, namely 95030040 (construction toy) and 95003060 (intellectual toy), increased year-on-year in 2015. 11.58% and 86.08%, and by 2016, the total imports of these two types of products both declined, with a decrease of 24.33% and 29.39% respectively. This data reflects to some extent the decline in the demand for imported toys in the domestic market. The reason is that it is not unrelated to the accelerated development of domestic brands to seize the market. It is understood that in Guangdong, the largest toy producing area in China, there are not less than 300 companies in Chenghai area producing plastic toys, and there are nearly 30 brands active in the market, and many of them are emerging rapidly.
Take Chenghai Xiaobailong as an example
As the top three Chinese toy building blocks, the first place in the new three-board toy building has not only successfully created two own toy brands, “Xiaobailong†and “COGOâ€, but also has more stable and large customer resources in the international market. Moreover, the company's sales in the South China region are also among the best. In North China and Southwest China, it is far ahead of its direct competitors, and has repeatedly ranked Baidu Index Educational Toys. The company's 2015 turnover was 157 million yuan and its net profit was 20.47 million. It ranks in the top three in the national building block segment.
In April 2016, the major shareholder Chenghai District Heilongjiang Model Toys Factory Co., Ltd. of Shantou City, the price of 4,474.60 square meters of industrial land and its building production plant was 38.81 million, which was injected into the listed company, which expanded the company's building capacity to more than twice. In 2016, the company will strengthen the market promotion of building blocks products as an important development strategy, which will definitely drive the company's revenue and net profit to grow substantially. In the first half of last year, the company realized operating income of 875.51 million yuan, an increase of 38.22% over the same period of the previous year, and realized a net profit of 925.35 million yuan, an increase of 62.62% over the same period of the previous year. In the first half of the year, the company developed and listed the educational building blocks of toy building blocks. 40 models, the income from educational toys achieved a year-on-year increase of 9.34%.
Some of the domestically-made plug-in toy brands unveiled at the Guangzhou Toy Fair
As big as Lego, even if it is very optimistic about the development of the Chinese market, it may be afraid of catching up with domestic brands. In mid-February, during the North American International Toy Fair, the world's third largest toy show, Lego showed a very cautious and conservative attitude towards buyers and media from China. In particular, when the reporter expressed his wish to make an appointment for an interview at the exhibition site, the receptionist refused our interview, even though “Chinese and Foreign Toy Manufacturing†was the only Asian representative in the official international media group of the exhibition, and said this time. There is no plan to receive Chinese guests at the North American International Toy Fair. The same is the world's leading toy companies, announced in 2017 to focus on the development of the Chinese market, Mattel and Hasbro, they are calm, their open attitude is very different, learned that reporters from China, skip the appointment process, directly arrange The guides guide the reporters to visit the company's 2017 new products.
Domestic brands are cost-effective, and the second and third-tier markets are cultivating early.
Many imported brands have entered China for many years, and the main battlefield has always been a department store channel. With the development of second- and third-tier cities, new department stores have increased, and product demand has increased. Imported brands are counting on second- and third-tier cities to become new growth points, but too high selling prices have constrained their development. On the contrary, our domestic brands such as Gudi, Star Diamond, Xiaoluban, Enlightenment, Chaosheng Animation, etc., in addition to quality assurance, have also maintained a high cost performance, quite popular among consumers, many of them It has successively boarded the hot list of department store super toys in Chengdu, Guilin, Urumqi and Zhongshan. In the future, the second and third tier cities will also be the main battlefield for the competition between imported and domestic brands.
In addition, in the second and third tier cities, some domestic brands have been deeply cultivating the market for many years, forming a certain reputation. The reporters have some friends after 80s and 90s, saying that in their childhood memories, it is the domestic brand enlightenment. This also reflects that the domestic brand's cultivation time for the second and third-tier markets is earlier than the imported brands, and the brand effect brought about gradually emerges.
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International licensing industry boom, domestic brand IP blessing
Among the imported plug-in toys, it is not difficult to find that many of them are well-known IP authorized, such as Marvel, DC, Star Wars, Xiao Huangren. Take LEGO as an example. Among the top 5 best-selling products in 2016, the Millennium Wars authorized by Star Wars accounted for one of them. However, the international licensing industry is developing rapidly, giving new opportunities for domestic brands to catch up. The IP advantages of imported brands may gradually weaken, especially for plastic toys.
Domestic brands understand the tastes of local consumers and choose the IP they like. Star Diamond and Bangbao are representatives of domestic brands actively developing licensed products. Star Diamond currently has internationally recognized IP licenses including Kung Fu Panda and Doraemon, while Main Board listed company Bangbao recently announced the launch of the officially licensed product of British Anime IP "Little Pig Page". (Bottom) The next show, Ji Muliang, also launched the Naruto-authorized related products last year. These images have a large fan base in China and have a positive impact on product sales.
No matter what Lego fears or cares about, it is certain that the catch-up of domestic brands has made them feel the persecution under the fierce competition in the market. The rise of domestic brands is inevitable.
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