Top US toy retailer Toys"R"Us on Wednesday said it plans to open more than 100 stores globally in 2013, including new locations, the relocation and conversion of 14 stores to the Side-by-Side format, and 22 new licensed stores. These new stores are located throughout 21 of the 36 countries and jurisdictions in which Toys"R"Us currently has a presence through its wholly owned and licensed businesses, and represent the net addition of over 900,000 square feet of retail space to the company’s store portfolio.
In Asia-Pacific, 55 new, converted or relocated stores are planned to open this year which include 22 stores in mainland China, 2 in Hong Kong, 10 in Japan, 4 in Malaysia, 3 in Taiwan and Thailand respectively, as well as 7 licensed stores in South Korea 4 in the Philippines. New store sizes vary by country and range from 3,000-60,000 square feet.
The company’s 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.
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 percent majority owned and controlled by Toys"R"Us and 30 percent owned by Fung Retailing. To make the brand more accessible to consumers throughout the country, Toys"R"Us launched its e-commerce site in China in November 2012.
By the end of the year, the company plans to operate 51 stores in 27 cities throughout China.
Since embarking on its integrated store strategy in 2006, the company has converted approximately 25 percent of its wholly owned global store base to a format that brings the company’s toy and juvenile product offerings together to provide a one-stop shopping experience for parents and caregivers alike. The Side-by-Side format, which originated with Toys"R"Us, Canada, is now present in 15 global markets.
Through the execution of its integrated store strategy, Toys"R"Us has updated many of its existing locations by renovating the stores’ interiors and exteriors, while bringing both trusted brands under one roof. Concurrently, it has also allowed the company to relocate older stores in select markets to new sites in the current center of retail activity in those areas.