Toys R Us Singapore plans two new stores
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Toys R Us Singapore plans two new stores, despite the current downturn in the retail market.
Country manager Raymond Burt told Channel NewsAsia the first will open before Christmas and a second will follow in early 2017.
The announcement came at the opening of the chain’s latest store at VivoCity, its ninth store in the city state.
The locations of the new stores were not revealed although it is believed the new VivoCity outlet, with 30,000 sqft of floor space, will remain the largest in Singapore.
“We will continue to grow here as we still see Singapore as a growth market,” Toys R Us APAC president Andre Javes said.
“We don’t want to make decisions just based on the current economic situation which is tough… but this market has been a good one for the past 32 years and we have no issues investing more.”
Javes, who described the toy category as “recession-proof” said he expects the company to benefit from a raft of branded merchandise opportunities related to Hollywood blockbuster movies scheduled for release in coming years.
Questions & Answers
Q.When will the two new Toys R Us stores in Singapore open?
When will the two new Toys R Us stores in Singapore open?
The first new store is planned to open before Christmas. A second new store is then expected to follow in early 2017, according to country manager Raymond Burt.
Q.What is the reason for Toys R Us expanding in Singapore despite the difficult market?
What is the reason for Toys R Us expanding in Singapore despite the difficult market?
Toys R Us APAC president Andre Javes stated that Singapore has been a good market for 32 years, and they see it as a growth market. He also described the toy category as “recession-proof”.
Q.What is the anticipated benefit from upcoming Hollywood films for Toys R Us?
What is the anticipated benefit from upcoming Hollywood films for Toys R Us?
Toys R Us expects to benefit from many branded merchandise opportunities. These are linked to Hollywood blockbuster movies that are scheduled for release in the coming years.
Q.Where was the announcement about the new stores made?
Where was the announcement about the new stores made?
The announcement was made at the opening of Toys R Us's latest store. This new outlet is located at VivoCity and is the chain's ninth store in Singapore.
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