Toys”R”Us plans aggressive expansion

Toy retailer Toys”R”Us is planning a global expansion centered on China.

Toys”R”Us plans opening more than 100 new stores globally as well as renovating existing stores.

The retailer says most significant expansion plans for 2013 are in China, where it has already begun operating several of 22 brand new stores scheduled to open this year.

It says expanding business in China, where it launched an e-commerce site and opened its first stores in Beijing last year, has been a priority for the company. By the end of the year, the company plans to operate 51 stores in 27 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 70 per cent majority owned and controlled by Toys“R”Us and 30 per cent by Fung Retailing.

The second largest area of growth for the company is the US, where 19 new, converted or relocated stores are scheduled to open, including nine new Toys“R”Us Outlet stores – the largest number in a single year since it began opening these smaller format stores in 2010 – taking the total number to 25 outlets nationwide.

“This expansion demonstrates our ongoing commitment to our long-term strategy – advancing our business in international markets with high growth potential and the continued integration of our toy and juvenile products businesses by combining Toys“R”Us and Babies“R”Us together under one roof,” said interim CEO Antonio Urcelay.

Toys”R”Us has 877 Toys“R”Us and Babies“R”Us stores in the US and Puerto Rico and more than 660 international stores and over 165 licensed stores in 35 countries.

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.