The recent announcement regarding financial restructuring of Toys”R”Us in US doesn’t affect its Asia ventures, Toys”R”Us (Asia) Ltd said. Its stores remain open for business and will continue to offer customers great service and a curated assortment of merchandise in the toy and baby categories.
The Asia branch of the business is a joint venture owned approximately 85% by Toys”R”Us Inc. and 15% by Fung Retailing Ltd (a privately-held entity and member of the Fung Group). It operates as a separate legal entity and is financially independent from all other Toys”R”Us operating companies around the world.
Toys”R”Us (Asia) Ltd and its subsidiaries operates 226 stores in Greater China and Southeast Asia — including Brunei, China, Hong Kong, Malaysia, Singapore, Taiwan and Thailand and licenses an additional 35 stores in the Philippines and Macau. Toys”R”Us Japan was successfully integrated into Toys”R”Us (Asia) March this year, adding 161 stores to the pan-Asia toy store chain.
Andre Javes, President, Toys”R”Us (Asia) Ltd, reaffirmed: “Toys”R”Us (Asia) is open for business and continuing to serve our customers as we always do. We are a financially robust and self-funding retail operation, which continues to significantly grow and invest in this region. Every year we are opening new stores in all our markets and particularly in China where we now operate over 135 stores and will be opening another 22 in the coming weeks.”
Javes added: “As the leading toy, baby and educational products retailer for children in Asia, we are very focused on delivering our full year results. Our teams are committed to excite our customers with unique and differentiated ranges, both online and a thrilling hands-on experience in store…so come in and PLAY!”