Toys ‘R’ Us in new venture with Fung Retailing

Toys “R” Us is combining its business in Japan with its ones in Greater China and Southeast Asia.



In a joint venture between the toy retailer and Fung Retailing Limited, Toys “R” Us, Japan, which operates 160 stores in the country, will become part of Toys “R” Us, Asia Ltd., which operates 223 stores in Greater China and the Southeast Asia markets and licenses an additional 34 stores in the Philippines and Macau.



The combined business will be approximately 85% owned by Toys “R” Us and approximately 15% owned by Fung Retailing.



“This expansion marks another milestone for Toys “R” Us as a global company,” said Dave Brandon, chairman and CEO, Toys “R” Us. “The businesses are highly complementary with regards to markets, products and technology, and we believe that the strategic decision to consolidate them will allow us to streamline operations and accelerate innovation to continue to deliver a world-class experience for our customers in Asia.”



Toys “R” Us and Fung Retailing have been working together in the region since 1985.



“We look forward to working more closely with Fung Retailing, our trusted and valued business partner, as we further our mission to be the best toy and baby products retail company for the world,” Brandon said.