MANILA – It is business as usual at Toys ”R” Us Philippines despite the global toy brand winding down operations in the United States, officials behind the local partners said.
Expansion plans remain bullish as the company targets to open more stores within the year, and with sales driven by the increasing purchasing power of Filipino consumers, they pointed out
Andres Javes, President of Toys ”R” Us Asia Pacific, said in a press statement the recent developments are saddening but reassured the public that the US liquidation does not impact partnerships in Asia.
“Across all our Asian markets we continue to focus on our team members, business partners, and our customers. We are a financially robust and self-funding retail operation, which continues to significantly grow and invest in this region. We continue to open new stores and give our customers great shopping experiences,” said Javes.
Toys “R” Us Philippines is a sub-licensee of Toys”R”Us Asia, Ltd., the leading specialist toy retailer in the region and a joint venture with Fung Retailing Ltd, a privately-held entity and member of the Fung Group.
Toys “R” Us Asia, Ltd. operates as a separate legal entity and is financially independent from all other Toys“R”Us operating companies around the world.
In the Philippines, Toys”R”Us is operated by Robinsons Toys, Inc., a wholly-owned subsidiary of Robinsons Retail Holdings, Inc. (RRHI), with a total of 83 stores composed of 36 stand-alone branches and 47 “Toybox” sections in Robinsons Department Store branches.
“It is indeed unfortunate that the brand is facing challenges abroad but it is business as usual here in the Philippines. Our stores are open and customers can still enjoy our diverse toy assortment for kids,” said Celina Chua, General Manager of Toys”R” Us Philippines.
Robina Gokongwei-Pe, President of RRHI, said, for her part: “Toys “R” Us is one of the most iconic toy stores in the Philippines and we believe we’ll stay in the industry for many years to come. The public is still fond of toys, both young and old. We are optimistic with future growth and we continue to improve our merchandise mix to keep up with the market. To make it more convenient for shoppers, we’ve also begun to bring in cashless payment platforms into our stores.”