Customers across India can now shop on toysrus.in and at the new Toys“R”Us store in Hyderabad
Hyderabad, March 11, 2023 – ace turtle, India’s leading technology-driven retail company today announced the physical return of Toys“R”Us®, the world’s favourite toy store, for consumers in India. The new Toys“R”Us retail store opened today 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“R”Us has a legacy of bringing immense joy to millions of children across the globe for over seven decades with its high-quality and diverse collection of toys. 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 www.toysrus.in 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. According to Invest India, 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 has the potential to grow to over $2 billion by 2024. The Indian toy industry is only 0.5% of the global
industry size, indicating a large potential growth opportunity. The domestic toy demand is forecasted to grow at 10-15% against the global average of 5%.
Toys”R”Us has been a global leader in the toy category celebrating the joys of childhood and play with kids of all ages for more than 70 years. Geoffrey the Giraffe™, the beloved mascot of Toys”R”Us, is adored by millions of kids and their families around the world. The brand generates more than USD$2 billion in global retail sales annually through 1,350+ stores and e-commerce businesses in 30 countries. Toys“R”Us is owned by WHP Global, a leading brand management firm with a portfolio of consumer brands that generate over USD$6.5 billion in retail sales.
Founded in 2014, ace turtle is a leading technology-driven retail company. In its earlier avatar as a SaaS company, leading brands and retailers were using its technology platforms for omnichannel enablement. During the pandemic, ace turtle launched the Licensed Brands vertical with Lee and Wrangler. With its proprietary platform Rubicon, ace turtle integrates online and offline retail channels enhancing efficiency and scalability through omnichannel transformation by intelligent use of data. Rubicon is used by ace turtle for its Licensed Brands portfolio which includes long-term licenses of marquee brands Lee, Wrangler, Toys“R”Us and Babies“R”Us. It has a complete vertical offering from design and local sourcing to D2C for global brands in the Indian market. ace turtle is backed by investors such as Singapore-based Vertex Ventures (the venture arm of Temasek Holdings), the Corporate Venture Fund of CapitaLand and Rianta Capital, a Swiss venture capital firm.