Toys “R” Us plans 90 global stores
Toys”R”Us has announced its global store growth for 2014, with the planned opening of approximately 90 stores, including new locations, the relocation of several stores and 33 licensed stores. These new stores are located throughout 21 of the 37 countries and jurisdictions in which Toys “R” Us currently has a presence through its wholly owned and licensed businesses, and include the opening of the company’s first licensed store in Namibia, which took place in October.
The company’s most significant expansion plans for 2014 are in China and Southeast Asia, where it has already begun operating several of 22 brand-new stores in China and eight planned new locations in Malaysia. By the end of the year, the company plans to operate 76 stores in 35 cities throughout China.
In October 2011, Toys “R” Us acquired the majority stake in its business in Greater China and Southeast Asia from Fung Retailing. With this agreement, the existing Toys “R” Us licensed operations in this region became approximately 70 percent majority owned and controlled by Toys “R”Us and approximately 30 percent owned by Fung Retailing. The company has grown its store presence in China significantly since that time, and launched a dedicated e-commerce site in 2012.
The new stores the company plans to open in 2014 include both Toys”R”Us locations and a number of Side-by-Side formats, which combine Toys”R”Us and Babies”R”Us under one roof to offer a one-stop shopping convenience to customers.
*Source: key4communications
