Toys"R"Us returns - Ace turtle launches new store in India
By Retail4Growth Bureau | March 13, 2023
The new Toys“R”Us retail store has been launched at Sarath City Capital Mall in the HITEC City area of Hyderabad and customers across India can also now shop on toysrus.in
Ace turtle, India’s leading technology-driven retail company has announced the physical return of Toys“R”Us®, the global toy store, for consumers in India. The new Toys“R”Us retail store has opened at Sarath City Capital Mall in the HITEC City area of Hyderabad.
The new store offers world-class branded toys and experiential touchpoints for kids with its mascot Geoffrey the GiraffeTM. Toys from brands like Barbie, Lego, Hot Wheels, Nerf in addition to licensed toys from Disney and Paramount will be available at the Toys“R”Us store in Hyderabad. ace turtle has also launched to enable customers across India to shop for their favourite toys online from the comfort of their homes.
Commenting on the launch, Nitin Chhabra, CEO, Ace Turtle, said, “We are excited to introduce the globally renowned Toys“R”Us experience for kids with the launch of our first store in Hyderabad. We are committed to making our in-store experience memorable through our range of best-in-class products, in addition to prompt customer service. Toys industry in India is growing fast with the government’s support and there is tremendous potential in the market with a limited number of organized players. We look forward to expanding our reach by opening more physical stores and offering same-day and next-day delivery for the Toys“R”Us online store www.toysrus.in. We believe this will boost the Government’s “Make in India” initiative by accelerating toy manufacturing in the country.”
In June 2021, ace turtle entered into a joint venture with the Flipkart Group’s Wholesale Entity in India to acquire the license of Toys“R”Us in India. The company statement shares some industry data put out by Invest India, according to which, the Indian toys industry is estimated to be $1.5 billion. The sector is fragmented with 90% of the market being unorganized. The toys industry in India, comprising only 0.5% of the global industry size, has the potential to grow to over $2 billion by 2024. It adds that the domestic toy demand is expected to grow at 10-15% against the global average of 5%.
