Toys"R"Us, Inc. Continues Expansion in China with the Opening of its First Stores in Beijing
Company is Set to Make Its Debut in Northern China with Two Stores Opening in the Capital City This Weekend; By September, Toys"R"Us, Inc. Will Operate 30 Stores in 21 Cities throughout China
August 16, 2012 // Franchising.com // WAYNE, NJ – Toys"R"Us, Inc. today announced that it continues its expansion across China with the opening of its first stores in Beijing this weekend. The company will make its debut in Northern China with two new stores on the eastern side of the capital city. Two additional locations are slated to open in September in Tianjing Galaxy Mall in Northern China and Nanning Mixc in Southern China. These four new locations add to the company’s already robust presence in the country, including stores in Guangzhou, Shanghai and Shenzhen. By the end of September, the world’s leading dedicated toy and baby products retailer will operate 30 stores across 21 cities throughout China.
“As a company, international expansion is a key part of our overall strategy, and we are committed to further growth and investment in our business in China,” said Jerry Storch, Chairman and CEO, Toys"R"Us, Inc. “Our expansion into Beijing is an important next step as we aggressively extend the Toys"R"Us brand throughout Asia.”
On Saturday, August 18, the company will celebrate the official grand opening of its second Toys"R"Us/Babies"R"Us Side-by-Side store in China, which combines both brands under one roof to create a one-stop shopping destination. The 19,000-square-foot store is located at CapitaMall Taiyanggong in Beijing. The company has been implementing this integrated store strategy worldwide since 2005 to provide an exceptional shopping convenience for time-strapped parents, offering a wide selection of toys and juvenile products.
Grand opening simultaneously this weekend is a 14,000-square-foot Toys"R"Us location in Chaoyang Joy City. Two stand-alone Toys"R"Us locations in Tianjing Galaxy Mall and Nanning Mixc will follow in September.
Last October, Toys"R"Us, Inc. acquired the majority stake in its business in Greater China and Southeast Asia from Li & Fung Retailing. With this agreement, the existing Toys"R"Us licensed operations in this region became 70 percent majority owned and controlled by Toys"R"Us, Inc. and 30 percent owned by Li & Fung Retailing.
Since that time, the company has continued to expand across the region, opening 10 new stores across Brunei, China, Hong Kong, Malaysia, Singapore, Taiwan and Thailand. In total, the company now operates more than 100 locations in Southeast Asia and Greater China. In addition, 14 stores in the Philippines and Macau continue to be operated under a license agreement.
Toys"R"Us, Inc. opened its first international locations in 1984 with wholly owned stores in Canada and a licensed store in Singapore and has continued to grow its operations around the world. The Toys"R"Us business in Asia grew in 1986 when Li & Fung Retailing opened the first Toys"R"Us store in Hong Kong in Ocean Terminal in a joint venture with Toys"R"Us, Inc. This joint venture was converted to a licensing business in 1999.
About Toys"R"Us, Asia Pacific
Toys"R"Us, Asia Pacific, a division of Toys"R"Us, Inc., operates approximately 300 Toys"R"Us, Babies"R"Us and integrated stores in nine countries and jurisdictions across the region, including Japan, Australia, China, Hong Kong, Malaysia, Singapore, Taiwan, Thailand and Brunei. In addition, 14 stores in the Philippines and Macau continue to be operated under a license agreement. Following the opening of its first location in the area with a licensed store in Singapore in 1984, Toys"R"Us has continued to grow its presence through both wholly owned and licensed store operations, and in 2011, acquired a majority stake in its previously licensed businesses. With approximately 12,000 employees in the region, Toys"R"Us, Asia Pacific offers customers a differentiated shopping experience with a broad selection of exclusive products and unique services. Additional information on Toys"R"Us, Asia Pacific can be found on Toysrusinc.com.
About Toys"R"Us, Inc.
Toys"R"Us, Inc. is the world’s leading dedicated toy and juvenile products retailer, offering a differentiated shopping experience through its family of brands. Merchandise is sold in 874 Toys"R"Us and Babies"R"Us stores in the United States and Puerto Rico, and in more than 625 international stores and over 145 licensed stores in 35 countries and jurisdictions. In addition, it exclusively operates the legendary FAO Schwarz brand and sells extraordinary toys in the brand’s flagship store on Fifth Avenue in New York City. With its strong portfolio of e-commerce sites includingToysrus.com, Babiesrus.com, eToys.com and FAO.com, it provides shoppers with a broad online selection of distinctive toy and baby products. Headquartered in Wayne, NJ, Toys"R"Us, Inc. employs approximately 70,000 associates annually worldwide. The company is committed to serving its communities as a caring and reputable neighbor through programs dedicated to keeping kids safe and helping them in times of need. Additional information about Toys"R"Us, Inc. can be found on Toysrusinc.com. Follow Toys"R"Us, Babies"R"Us and FAO Schwarz on Facebook at Facebook.com/Toysrus, Facebook.com/Babiesrus and Facebook.com/FAO and on Twitter at Twitter.com/Toysrus and Twitter.com/Babiesrus.