Toys R Us Singapore plans two new stores
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.