– with inputs by Jerene Ang
In a statement to Human Resources, Toys ‘R’ Us has confirmed that its joint venture in Asia and Japan will not be affected by the ongoing liquidation of the US business, and it is not looking to pursue a sale of its operations in Asia.
Andre Javes, president, Toys ‘R’ Us (Asia), said: “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.”
He added that the company is opening new stories in all its markets every year, particularly in China where it currently operates over 150 stores and will be opening another 30 in the coming months.
Specifically in Singapore, Toys ‘R’ Us Singapore currently employs 380 staff, and is looking to continue to hire as the firm grow, as confirmed to Human Resources by a spokesperson. “We manage 11 stores island-wide and one in Brunei with plans to further expand,” the spokesperson added.
Toys ‘R’ Us Singapore has opened four new stores in Great World City, Parkway Parade, Waterway Point, Westgate and also refurbished United Square Mall, Tampines Mall and its flagship store at VivoCity in November 2016.
A spokesperson from the Fung Retailing Group said: “TRU Asia is a successful and important business within the Fung Group’s portfolio. We are committed to supporting its continued success in Asia.”
Toys ‘R’ Us (Asia) is a joint venture with Fung Retailing (a privately-held entity and member of the Fung Group) – thus 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) and its subsidiaries operate over 400 stores across Greater China and Southeast Asia – including Brunei, China, Hong Kong, Malaysia, Singapore, Taiwan and Thailand and licenses in Philippines and Macau. In March 2017, Toys ‘R’ Us Japan was successfully integrated into it, which added an additional 161 stores to the pan-Asia toy store chain.
Photo / 123RF