The new store is located at Sarath City Capital Mall, Hyderabad, the same location where it opened its first physical store four months ago with Ace Turtle but shut down within 24 hours of launch
Bengaluru: American toy and clothing retailer Toys”R”Us has reopened its first Indian store in Hyderabad at Sarath City Capital Mall, Hitec City area, a top company official said to IndiaRetailing.
Toys”R”Us marked its entry through Ace Turtle, two years after the US company ended its previous franchisee agreement with Abu Dhabi-based Lulu Group’s retail arm Tablez.
Four months ago, the toy retailer opened its first physical store with Ace Turtle in the same location but shut down within 24 hours over some legal complexities with the mall owner.
“We are excited to reintroduce the globally renowned Toys”R”Us experience for kids at our first store in Hyderabad. Toys”R”Us and Babies ‘R’ Us along with their globally adored mascot Geoffrey the GiraffeTM appeal to Indian customers who are looking for quality toys and baby apparel and accessories,” said Nitin Chhabra, chief executive officer of Ace Turtle.
“We are glad to see unprecedentedly high footfall since the reopening of the store. Indian customers can look forward to a plethora of toys and baby apparel and accessories across both the dedicated webshop and brick-and-mortar retail stores to be opened across the country,” Chhabra added.
Toys”R”Us made its foray into Indian market in 2017 through Tablez India, a division of Abu Dhabi-based Lulu Group International, for an exclusive master franchise agreement. It launched the global toy brand in India in October 2017 with plans to open 200-plus stores, but only managed to open 14 stores which wound up within three years of operations.
Bengaluru-based Ace Turtle entered into a joint venture with the Flipkart Group’s Wholesale Entity in India to acquire the license of Toys”R”Us and Babies”R”Us in India through a strategic arrangement with WHP Global, the controlling shareholder of Toys”R”Us.
The American toy, clothing, and baby product retailer Toys”R”Us was established in 1957. The company operates over 1,350 stores and e-commerce businesses across 30 countries as of March 2023.