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Toys ‘R’ Us expands Asian foothold with strategic acquisition
Wayne, N.J. -- Toys “R” Us announced Tuesday a joint venture with Li & Fung Retailing that will expand Toys “R” Us in Southeast Asia and Greater China.
With the new agreement, the existing Toys “R” Us licensed operations throughout Asia, consisting of more than 100 stores and offices across nine markets, will become 70% majority owned and controlled by Toys “R” Us and 30% owned by Li & Fung Retailing.
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Toys"R"Us gains majority stake in Asian operations
WAYNE, N.J. — Toys“R”Us announced that it has entered into a joint venture with Li & Fung Retailing that would make Toys"R"Us Inc. the majority shareholder of Toys"R"Us operations in Southeast Asia and Greater China. With this agreement, the existing Toys“R”Us licensed operations throughout Asia, which currently consist of more than 100 stores and offices across nine markets, will become 70% majority owned and controlled by Toys“R”Us Inc. and 30% owned by Li & Fung Retailing.