BENGALURU: E-commerce company Flipkart The group’s wholesale company in India and Ace Turtle, an omnichannel enablement platform, announced Tuesday that a joint venture they founded had secured licensing rights for toy and baby brands Toy “R” Us (TRU) and Babies “R“ Us (BRU) in the country.
This was done through an agreement with WHP Global, the majority shareholder of Toys “R” Us. With this, both brands will now be available to consumers online through sellers in India.
The Walmart-backed Flipkart Group will now compete with Reliance Brands, which owns the premium toy chain Hamleys.
Flipkart said it will leverage its reach and expertise in technology and customer experiences coupled with Ace Turtle’s omnichannel technology to enable online in-store purchase and shipping or in-store pickup, endless aisle and other technological innovations.
The combined expertise of Flipkart and Ace Turtle makes them the preferred partner for Toys “R” Us to grow their business in India, according to the companies.
In recent years, the product selection under the category of toys and games on Flipkart has grown significantly. In 2020, the marketplace saw nearly 100% growth, with consumers shopping online for their toys and baby care products while indoors.
“As a domestic platform, we constantly strive to build meaningful partnerships that are geared towards the needs of our users. With Toys “R” Us worldwide quality standard, Indian consumers now have access to many toys and baby care products, “said Kalyan Krishnamurthy, CEO of the Flipkart Group.
“This partnership with Ace Turtle and WHP Global will result in both companies bringing the best of their knowledge and expertise to innovate and offer customer-centric product selections where value and quality are paramount. Additionally, we believe that this partnership will fuel the effort. ” to expand the toy industry in India, “he added.
Nitin Chhabra, CEO of Ace Turtle, said: “… Flipkart Group, India’s leading omnichannel enablement platform – Ace Turtle and the world’s leading toy brand Toys” R “Us are coming together to deliver a future-proof consumer experience from online to offline. It’s a win-win for Indian consumers. “
Toys “R” Us and Babies “R” Us generate annual global retail sales of over $ 2 billion through nearly 900 branded stores and e-commerce companies in 25 countries.
“We are excited about the enormous potential of this new partnership as India is one of the fastest growing consumer markets in the world with real purchasing power and a rapidly growing population. We look forward to working closely with Flipkart and the Ace Turtle team to make Toys “R” Us and Babies “R” Us the leading toy and baby product destination in India, “said Yehuda Shmidman, Chairman and CEO, WHP Global and Toys “R” Us.
In October 2017 Toys “R” Us entered India with Tablez India, the retail arm of the United Arab Emirates-based LuLu Group, which was opening stores in the country as the exclusive master franchisee. The move came after the toy retailer filed for bankruptcy in the US after reporting a drop in sales and rising debt.
According to a CNBC-TV18 news report, Tru Kids acquired the brands and intellectual property of Toys “R” Us in September 2017.
In March 2021, WHP Global acquired a majority stake in Tru Kids Inc., the parent company of the Toys “R” Us, Babies “R” Us and Geoffrey the Giraffe brands.
It was initially unclear whether existing Toys “R” Us retail stores in India would cease operations.
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