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Tag: Toys “R”

  • Toys ‘R’ Us Asia names Leo Tsoi as new CEO

    Toys ‘R’ Us Asia names Leo Tsoi as new CEO

    The Board of Directors of Toys”R”Us Asia (Holding) Limited, (“Toys”R”Us Asia”), the leading retailer of toy and baby products in ten markets across Asia, today announced the appointment of Leo Tsoi to the role of Chief Executive Officer and member of the Board, effective April 1, 2023.

    Mr. Tsoi brings to the role more than 27 years of consumer retail experience and business leadership in large multi-national brands across Asia. Most recently, Leo served as Chief Executive Officer of Starbucks China where he also served as a member of the Starbucks Global Executive Leadership Team.  Prior to that, Leo held a series of senior roles at Starbucks China including President of Retail, COO, CMO and VP of Store Development & Design, where he played a crucial role in the company’s growth and transformation. Prior to joining Starbucks, Mr. Tsoi held senior positions in iconic international companies, Pepsico and Procter & Gamble, in Greater China.

    “Following an extensive global search, we’re thrilled to welcome Leo Tsoi to Toys”R”Us Asia as our new CEO,” said Drew M. Nuland, Chairman, Toys”R”Us Asia. “Over the course of his career, Leo has distinguished himself as a bold innovator and inspiring leader who has led rapid growth over a diverse range of product portfolios. He has a proven track record not only in operational efficiency, digital transformation and brand management, but also in engaging customers throughout the region.”

    “I’m honoured to take on this leadership role with Toys”R”Us Asia, a dynamic and respected retail brand with a strong vision to fuel the imagination of children and inspire their development through play,” said Leo Tsoi, incoming Chief Executive Officer of Toys”R”Us Asia. “I look forward to working with the dedicated teams in our markets to serve our communities across Asia through an elevated customer experience and with meaningful innovations to capture the tremendous growth opportunities ahead.”

    Mr. Tsoi assumes the helm of Toys”R”Us Asia from Interim CEO Pieter Schats, who will remain a member of the Board.

    “As Toys”R”Us Asia continues to elevate the customer experience in-store and online and build more personalized relationships with kids and families, we’re confident that Leo’s proven leadership skills, extensive consumer knowledge and unwavering focus on people will enable our teams to accelerate growth throughout the region,” added Mr. Nuland.

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  • Toys ‘R’ Us to open immersive Australian experience centre

    Toys ‘R’ Us to open immersive Australian experience centre

    Tru Kids Brands and Candytopia have worked together to create a new, innovative play experience – the Toys R Us Adventure.

    The immersive experience will celebrate the fun surrounding toys and play, and is scheduled to open mid-October at Brookfield Properties in Chicago and Edens Lenox Marketplace in Atlanta.

    The Toys R Us Adventure will feature full sensory brand and play experiences with interactive playrooms and installations featuring the Toys R Us mascot Geoffrey the Giraffe and toy suppliers including Melissa and Doug, Spin Master with the Paw Patrol brand and Schleich. Consumers will have the chance to interact and take pictures with both classic and new toys.

    “The Toys R Us brand was built upon celebrating the joys of childhood and we are thrilled to partner with the creatives behind Candytopia to introduce an exciting new way to play for guests of all ages,” said Richard Barry, CEO of Tru Kids.

    “As we focus on bringing a re-imagined Toys R Us to the US we believe this live experience, coupled with our new experiential retail stores, will attract families from around the world and create a unique opportunity to rediscover the magic of this beloved family brand.”

    The limited-run engagements will remain in Chicago and Atlanta throughout the holiday season, before moving to other major US cities in 2020.

    Tru Kids Brands also recently named toy industry veteran Jamie Uitdenhowen as president of Toy Retail Showrooms, the new joint venture that operates and manages Toys R Us stores in the US.

    In addition to the Candytopia partnerships, two new Toys R Us stores will open in Houston, Texas and Paramus, New Jersey.

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  • Toys ‘R’ Us Start Selling on eBay

    Toys ‘R’ Us Start Selling on eBay

    Less than a month after returning to Australian shores with a more focused, digital offering, Toys ‘R’ Us has launched on eBay, adding more than 4,000 items to the marketplace.

    According to Toys ‘R’ Us, the move represents an important facet of its omnichannel approach moving forward. It believes it will benefit from exposure to eBay’s more than 11 million unique monthly visitors.

    “Toys ‘R’ Us is an icon known and loved by Aussies of all ages, so we’re thrilled to welcome the retailer to eBay as it builds its online offering,” eBay’s senior director B2C of advertising and commercial partnerships Kristian Haigh said.

    “This partnership is a natural evolution and we’re proud to help Australian retailers by making it easier for shoppers to access their favorite brands, wherever and however they choose to shop.”

    The launch follows an eight-year partnership between eBay and Hobby Warehouse, which is partnering with TRU Kids, the US-based owner of Toys ‘R’ Us, on the toy store’s relaunch in Australia and New Zealand.

    Toys ‘R’ Us chairman Kevin Moore noted that some retailers see up to 40 percent of their total sales volume driven by the combination of marketplaces they partner with.

    “Online marketplaces are an important part of all online retailers’ service to shoppers,” Moore said.

    “Toys ‘R’ Us will continue to partner closely with eBay on toy sales and promotions, and other relevant marketplaces in the future.”

    Moore said the brand will explore and embrace new partnership opportunities as they arise.

    “We have been amazed at the positive reactions of the Toys ‘R’ Us digital re-launch… Hobby Warehouse has benefited from toy buyers looking for adult hobby items too.

    “We have had over 70 new suppliers contact us to list their range of toy and hobby brands on both sites.”

    Last month, the two companies announced a new format of Toys ‘R’ Us ‘experience centers’ will open across Australia and New Zealand in 2020.

    “Our mission is to encourage children to engage with as many forms of play as we possibly can,” Hobby Warehouse chief executive and Toys ‘R’ Us Australia director Louis Mittoni said.

    “Hobby Warehouse is a digital native with a keen understanding of how to accelerate and match the requirements of the modern shopper.”

    According to IBISWorld data, the toy and game retailing industry is expected to see a revenue drop of almost 16 percent over 2019, with the market expecting to generate around $740 million – down from the $880.2 million seen in the prior year.

    IBISWorld senior industry analyst Kim Do said the business’ shift away from physical retail and toward a more online-centric offer would make its re-entry to the Australian market smoother.

    At this point in time, it is unclear if Babies ‘R’ Us products will feature on eBay.

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  • Toys“R”Us Asia brings smiles to kids and families in China through their record-breaking Children’s Day Toy Festival

    Toys“R”Us Asia brings smiles to kids and families in China through their record-breaking Children’s Day Toy Festival

    Celebrating Children’s Day with families and kids across China, through a vast offering of experiential offsites, special promotions and exclusive toy ranges, Toys”R”Us Asia announces a record-breaking Y-o-Y sales growth of over 25% in China, on the first weekend of June.

    The strong business results for Toys”R”Us Asia in China on June 1 can be attributed to millions of happy in-store customers, as measured through a record-breaking number of transactions. Kids and families got to enjoy a significant increase in exclusive product ranges offered through Toys”R”Us China’s vast network of over 180 permanent stores and over 100 experiential offsites, set up specifically to celebrate Children’s Day.

    Nicholas Green, Managing Director of Toys“R”Us China, said, “Toys“R”Us is the ultimate destination for kids of every age. Our top priority is to support families with fun and interactive shopping experiences so they can access the very best products for entertainment and learning. The recent record-breaking business results for Toys“R”Us China over the weekend of International Children’s Day is a strong sign that customer demand in this market is on the rise and is a testament to the company’s success and growth, both in the offline and eCommerce space. We plan to open over 50 new stores in China in 2019 alone, and we are confident that our offering to customers will only continue to strengthen.”

    Andre Javes, President and CEO of Toys“R”Us Asia, commented, “In the coming year, Toys“R”Us Asia is planning to open over 65 stores across Greater China, Japan and South East Asia, to meet the growing demand for imaginative and educational play. We will be rolling out even more immersive experiences and inspiring content to showcase the infinite possibilities of toys – offering up the most relevant toy choices for every development stage of childhood.”

    At the end of the previous fiscal year, Toys”R”Us Asia posted strong business results, as well as growth in their STAR CARD loyalty program and several investments in new stores, store renovations, eCommerce and IT infrastructure.

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  • Amazon mulls taking over Toys R Us

    Amazon mulls taking over Toys R Us

    Bloomberg reports the bankrupt toy retailer is in talks with the e-commerce giant over the future of an unspecified number of stores which could be converted to Amazon’s growing portfolio of offline retail spaces. The company recently acquired grocery chain Whole Foods, which has 450 sites, and has been opening physical book stores in selected US markets.

    Toys R Us US is closing down more than 700 stores, many of which have moderate- to large-sized footprints suited to bulky goods or grocery retailing.

    Bloomberg’s sources said Amazon is not interested in the Toys R Us brand but sees opportunities to use physical stores to deliver online purchases faster. It may possibly use the sites to demonstrate its Alexa voice-activated technology.

    Amazon has previously negotiated taking over Radio Shack stores after that chain collapse, but no deal was reached.

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  • Toys R Us Asia mulls IPO

    Toys R Us Asia mulls IPO

    Toys R Us Asia is investigating the feasibility of listing in Hong Kong.

    According to overseas media reports, funds raised from selling shares in the Hong Kong-headquartered joint venture with Fung Group could assist the crippled US parent company with its restructuring under bankruptcy protection.

    The Toys R Us Asia business is performing solidly and the company is in the process of expanding its store network.

    Toys R Us and Fung Group have been discussing the option with investment banks, reports Deal Street Asia. A deal could value the Asia unit – not included in the bankruptcy filing – at as much as US$2 billion.

    Toys R Us owns about 85 per cent of the Asian venture, with the balance held by the Fung Group, the private holding company of Hong Kong billionaire businessmen Victor and William Fung.

    Toys R Us dominates the $20.7 billion Asia Pacific market for traditional toys and games, according to Euromonitor International. It had a 20 per cent share last year of sales of dolls, action figures, puzzles and similar products. Its closest regional competitor had a 1.4 per cent share.

    Growth in Japan and the Asia Pacific helped offset weaker sales in Europe and the US in the quarter to April 29, Toys R Us reported in June. This followed the company combining its Japanese business with a JV running more than 400 stores in greater China and Southeast Asia.

    With 1600 stores internationally, the brand sought bankruptcy protection after being ravaged by online rivals and price wars.

    Toys R Us Asia was set up in 1986. The Fung Group is also the biggest shareholder in Li & Fung, a global supply chain with clients including Wal-Mart Stores.

  • Toys ‘R’ Us to open four new stores in Australia

    Toys ‘R’ Us to open four new stores in Australia

    Global toy retailer, Toys ‘R’ Us, will open four new stores across Victoria, Queensland and New South Wales between September and November.

    The four new stores will be located in Robina (Queensland), which will open on September 16 ; Rutherford (NSW), which will open on October 7 ; South Morang (Victoria), which will open on October 14 ; and North Lakes (Queensland). The retailer’s store in North Lakes will be its 15th store to open over a three-year period.

    Dianne Guerreiro, managing director of Toys ‘R’ Us Australia, said they believe the expansion will have a beneficial impact on the local communities.

    “We are committed to giving our customers access to the latest and most exciting toy and baby products in Australia, and with each new location, we can make sure we’re reaching even more toy fans across the country,” Guerreiro said.

    According to Guerreiro, they will be recruiting 60 to 80 new staff in each store.

    Toys ‘R’ Us currently has 39 stores across Australia, employing 2,300 staff members, which rises to 3,000 during the busy Christmas trading period.

    In May, the toy retailer combined its Japan, Greater China and Southeast Asia businesses as part of a joint venture with Hong Kong-based Fung Retailing Limited.

    Toys ‘R’ Us Asia Ltd, which currently operates 223 stores in China and the Southeast Asian markets, entered into an agreement with Fung Retailing Limited to consolidate Toys ‘R’ US Japan, which operates 160 stores in the country, into Toys ‘R’ Us Asia.

    The unified business will now be owned by about 85 per cent by Toys ‘R’ Us, with the remaining percentage held by Fung Retailing.

    Andre Javes, president of Toys ‘R’ Us Asia Pacific, said they have seen growth in expenditure on children’s products in recent years, driven primarily by Asia’s economic growth, rising middle class and rapid urbanisation.

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  • Toys “R” Us Opens Its 100th Store in China

    Toys “R” Us Opens Its 100th Store in China

    Ten years after first entering the market, toy and baby product retailer Toys”R”Us has opened its 100th store in China. The new retail outlet is located in Beijing’s APM Shopping Mall in Wang Fu Jing, one of the leading retail districts in the city.

    China has been one of the most important markets for the company’s global expansion plans, and growth in this region is expected to continue with the planned opening of more than 30 new Toys”R”Us stores in 2016, according to Chairman and CEO, David Brandon.

    “The opening of the new store, he said, “represents a significant achievement for our business as it allows us to meet the increasing demand for high-quality children’s products and family entertainment experiences in this market.”

    “It’s our mission to be the best toy and baby products retail company in the world, and international expansion, particularly throughout China and Southeast Asia, continues to be an important part of our long-term growth strategy,” he said.

    The new store “showcases the very latest in retailtainment, digital technology and customer interaction, making shopping at Toys”R”Us a unique and fun experience for kids and adults alike,” said Andre Javes, managing director, – Greater China and Southeast Asia.

    “What differentiates Toys”R”Us as a specialty toy retailer is the memorable shopping experience we provide for our customers,” he added. “This includes a combination of the widest assortment of toys and baby products, including exclusive items not available anywhere else in the market, fun store layouts, interactive in-store experiences, product displays and demonstrations, activities and more.”

    The company opened its first store in Shanghai in 2006 and currently operates in 44 cities throughout the country, including six where the company established a presence for the first time last year.

    In 2011, New Jersey-headquartered Toys”R”Us formed a joint venture with Fung Retailing Ltd., its long-term license partner  in China and Southeast Asia, to develop businesses in the region.

    Since then the company has opened additional stores in Brunei, Hong Kong, Malaysia, Singapore, Taiwan, Thailand, as well as China, where the currently has a total of 100 stores in 44 cities.

    Toys”R”Us launched a worldwide presence in 1984 when the company opened its first international wholly owned store in Canada and licensed an operation in Singapore. Currently, the company operates more than 600 international stores and over 140 licensed stores in 35 countries and jurisdictions outside the U.S.

  • Toys”R”Us® Opens Its 100th Store In China

    Toys”R”Us® Opens Its 100th Store In China

    Ten years after first entering the market, Toys”R”Us, Inc., the world’s leading dedicated toy and baby products retailer, today announced that the company has opened its 100th store in China. The milestone achievement was marked by a grand opening celebration event that took place Saturday, January 16, at the APM Shopping Mall in Wang Fu Jing, one of the leading retail districts in Beijing, where Toys”R”Us® opened one of its 27 new stores across the country within the past year.

    “It’s our mission to be the best toy and baby products retail company in the world, and international expansion, particularly throughout China and Southeast Asia, continues to be an important part of our long-term growth strategy,” said Dave Brandon, Chairman and CEO, Toys”R”Us, Inc. “The opening of the 100th store in China represents a significant achievement for our business as it allows us to meet the increasing demand for high-quality children’s products and family entertainment experiences in this market.”

    Toys”R”Us opened its first store in China in 2006 and currently operates in 44 cities throughout the country, including six where the company established a presence for the first time last year. China has been one of the most important markets for the company’s global expansion plans, and growth in this region is expected to continue with the planned opening of more than 30 new Toys”R”Us stores in 2016.

    “The grand opening of our 100th store is a major milestone for Toys”R”Us on our exciting journey in China,” said Andre Javes, Managing Director, Toys”R”Us, Greater China and Southeast Asia. “What differentiates Toys”R”Us as a specialty toy retailer is the memorable shopping experience we provide for our customers. This includes a combination of the widest assortment of toys and baby products, including exclusive items not available anywhere else in the market, fun store layouts, interactive in-store experiences, product displays and demonstrations, activities and more.”

    Attending the iconic 100th store opening ceremony in the heart of the Capital were: Dave Brandon, Chairman and CEO, Toys”R”Us, Inc.; Dr. Victor Fung, Group Chairman, Fung Group; Monika Merz, President, Toys”R”Us, Asia Pacific; Pieter Schats, Executive Director of Fung Retailing Ltd; and Andre Javes, Managing Director, Toys”R”Us, Greater China and Southeast Asia, along with many important business partners and executives from the toy industry.

    As part of the grand opening, families were also invited to meet and greet popular mascots such as Geoffrey the Giraffe, Ultraman, Barbie™, Ninjago Kai, Balala Emma and more.

    Toys”R”Us at Beijing APM Shopping Mall Features Innovative Retail Environment
    The new store showcases the very latest in “retailtainment,” digital technology and customer interaction, making shopping at Toys”R”Us a unique and fun experience for kids and adults alike.

    Upon entering the store, customers are immediately immersed into the world of Star Wars™: The Force Awakens – the first-ever Star Wars movie released on the big screen in Chinese theaters – with life-size characters and dramatic scenes from the movie. Shoppers will also find interactive displays from LEGO® and TOMICA, a Balala magical mirror and more.

    Customers can further interact with the huge, 70-inch digital screen at the store entrance, enabling them to browse through promotional items, make purchases, take “selfies” with special photo frames, play games and easily become members of the company’s “Star Card” loyalty program.

    The Toys”R”Us store at Beijing APM also brings amazing exclusive products and assortments, which are not available anywhere else in the market. These private brands offer great value, quality and innovation from the Toys”R”Us brand consumers know and trust, and include FastLane®, Dream Dazzlers®, Universe of Imagination, Pavilion®, Just Like Home®, Edu Science®, You & Me, STATs® and Avigo®.

    In addition, consumers will find various new features throughout the APM mall, sponsored by Toys”R”Us.

    Toys”R”Us in China
     Toys”R”Us has been the leading dedicated retailer of toys and baby products around the world for more than 65 years. Toys”R”Us opened its first licensed store in Shanghai, China in 2006, and since then, has continued to expand aggressively in the country. In 2011, Toys”R”Us, Inc. formed a joint venture with its long-term license partner in China and Southeast Asia, Fung Retailing Ltd, for its businesses in the region, with stores in Brunei, China, Hong Kong, Malaysia, Singapore, Taiwan and Thailand, and became 70 percent majority owned and controlled by Toys”R”Us, Inc. and 30 percent owned by Fung Retailing Ltd.

    As of January 2016, the company has 100 stores in 44 cities across China, including: Beijing, Shanghai, Shenzhen, Chengdu, Chongqing, Hangzhou, Ningbo, Jiaxing, Jinhua, Shangyu, Nanjing, Suzhou, Nantong, Wuxi, Changzhou, Yancheng, Kunshan, Harbin, Shenyang, Changchun, Dalian, Tianjin, Baoding, Tangshan, Shijiazhuang, Zhengzhou, Jinan, Yantai, Zibo, Qingdao, Hefei, Wuhan, Changsha, Luzhou, Ganzhou, Xi’an, Kunming, Nanning, Guangzhou, Xiamen, Fuzhou, Zhuhai, Jinjiang and Zhongshan.

    Enhanced e-Commerce Business and Omnichannel Capabilities in the Chinese Mainland
    Toys”R”Us launched a T-mall Store in April 2012 and its own dedicated e-commerce website at Toysrus.com.cn at the end of the same year. Toys”R”Us, China also operates a mobile-optimized website, enabling tech-savvy consumers across the country to easily shop while on-the-go. Additionally, the company uses its “Ship from Store” capabilities to effectively transform the country’s existing Toys”R”Us stores into mini distribution centers by leveraging their inventory to fulfill online purchases.

    Now, millions of Mainland customers can access a wide assortment of toys, along with product authenticity and a toy safety guarantee from Toys”R”Us.

    Full Range of Toys
    Toys”R”Us provides a broad assortment of products from trusted domestic and international brands for children and their parents in China. Stores feature enticing product displays, demonstrations, “see-me touch-me” packaging, and a large number of products that are only available at Toys”R”Us. All products are made to the highest quality standards and have passed all required safety tests.

    As a global retailer, Toys”R”Us ensures country-by-country shopping patterns are taken into account at the local market level. Parents in China place great importance on the educational value of toys that help children learn and develop skills while they play. Within its Learning category, Toys”R”Us provides among the most comprehensive and widest selection of educational toys, including many uniquely designed by the company’s in-house team. These toys encourage skill development such as learning languages, mathematics, geography, color-differentiation and coordination.

    Digital and New Media Platforms
    Digital and new media is a booming business across China, with rapid growth of brands and stores across e-commerce websites and online instant messaging platforms.

    Mr. Javes also commented, “Toys”R”Us has 1 million followers in WeChat and continues to grow. WeChat followers have been expanding rapidly within the recent two years and we are seeing more than 80 percent of members join in our “Star Card” Membership Program via this social platform, where they can easily play our WeChat game, get the latest promotional information and explore bonus features, which enhance the fun of digital interaction. Along with the fast development of digital platforms such as mobile internet in China, we will continue to engage and excite our consumer on all their digital devices.”

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