Why China is a parallel universe for toy retailers like Toys R Us

Toys R Us Asia is planning 50 new stores and saw 3 percent growth based on 2017 filings

TRD CHICAGO /
Dec.December 29, 2018 09:00 AM

(Credit: iStock)

Retailers are betting big on China’s burgeoning toy market as household names like Toys R Us file for bankruptcy in North America.

The end of China’s one-child policy, combined with a lack of consumer confidence in product-safety, mean that Chinese parents are flocking to toy stores and American retailers want a piece of the action, according to the Chicago Tribune.

Toys R Us Asia is one of the starkest examples of the difference between the Chinese toy retail market and North America’s: while sales for the Asian division totaled $375 million for a 3 percent increase year-over-year, the U.S. business’ sales fell 3 percent in the same period.

After Toys R Us filed for bankruptcy earlier this year, Toys R Us Asia made a deal with creditors to continue operations and is now planning to open 50 new stores.

Other toymakers getting in the game by setting up stores in China include Lego Group, FAO Schwarz and ThreeSixty Group. Bloomberg Intelligence forecasts the market for toys and games in the country will be the largest in the world by 2022. [Chicago Tribune] — Erin Hudson


Related Articles

arrow_forward_ios
The Bolingbrook property along route 53 and Amazon CEO Jeff Bezos (Credit: Google Maps, Getty Images)

Amazon pays $51M for site of former Chicagoland amusement park

Jeff Bezos and the Old Wrigley gum factory at 3535 S. Ashland Avenue (Credit: Getty Images and Google Maps)

Chew on this: Former Wrigley gum factory pitched as potential Amazon warehouse

Chicago Area Vacancy Rate Continues Decline

Chicago-area retail isn’t out of the woods yet

Peter E. Ricker, Chairman and CEO of MBRE, and 800-810 West Madison Street (Credit: MBRE and Google Maps)

MB Real Estate pays $19M for office building near Fulton Market

W. P. Carey Inc. CEO Jason E. Fox, Pritzker Realty Group founder and Chairman Penny Pritzker, 150 N. Clinton St. (Credit: Google Maps)

WP Carey and Pritzker Realty make big moves in West Loop

Rendering of 800 W. Fulton Market and Thor's Joe Sitt

Thor Equities lands anchor tenant for spec Fulton Market office tower

President of University of Chicago Robert Zimmer, DL3 Realty's Leon Walker and The Jewel-Osco in Woodlawn (Credit: Getty Images, Google Maps)

Near future Obama Center, U. of Chicago buys Jewel-Osco-leased building

Former Takeda Campus in Deerfield, Horizon CEO and president Timothy Walbert

Irish biotech firm in contract to buy entire 70-acre Takeda campus

arrow_forward_ios
Loading...