Retail in Asia

In Sectors

Toys “R” Us to open 90 stores in 21 countries

Toys “R” Us announced on Thursday that it is expanding its global footprint with the planned opening of approximately 90 stores in 21 countries.  This includes relocation of several stores and 33 licensed stores and the opening of the company’s first licensed store in Namibia.

The company said most of the expansion plans for the year will be in China and Southeast Asia. By the end of the year, it plans to operate 76 stores in 35 cities throughout China. Eight new locations are also planned in Malaysia.

In October 2011, Toys “R” Us Inc. acquired the majority stake in its business in Greater China and Southeast Asia from Fung Retailing. With this agreement, the existing 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.

“International growth remains an important area of investment for the company and we continue to see significant opportunities for expansion, especially in China and Southeast Asia,” said Antonio Urcelay, Chairman of the Board and Chief Executive Officer, Toys “R” Us Inc.