Lego CEO and President, Jorgen Vig Knudstorp, displays a toy at the company's flagship store in China at China World Shopping Mall in Beijing on Wednesday, Sept. 12, 2007. [Photo: CRIENGLISH.com]

Danish toy giant Lego opened its flagship store in China on Wednesday after a 15-year presence in the country.

Lego CEO and President, Jorgen Vig Knudstorp, who is on his first visit to China, attended the launching ceremony at the new store in China World Shopping Mall in Beijing.

In an interview with CRIENGLISH.com, he explained why it took Lego so long to open a brand store in China.

"We've been in China for a long time, but now we are finding a way to really crack the code and grow the market. The branded toy market in China is still in its infancy. I think we've seen other markets grow faster, like cars, mobile phones. But I think now is the time for branded toys to really grow."

Knudstorp says the new store is an experiment. They hope to learn from the experiences in managing this store and decide a year later whether to open more Lego brand stores in China

While highlighting Lego's uniqueness in creativity, the Lego CEO thinks there are cultural and other aspects that will help the company grow in China.

"I think there is a very good mix or match between Chinese values, arts, craftsmanship, learning, education, creativity, entrepreneurship, experimentation. I think there are many links between Chinese cultures and values and Danish values and Scandinavian heritage and what Lego is all about."

Knudstorp says Lego's China sales account for less than one percent of its total sales around the world and there is much potential for growth. He expects Lego to become the market leader in China by 2020.

Founded in 1932, LEGO Group is now the world's sixth-largest manufacturer of toys in terms of sales.