US-based toy retailer Toys R Us is looking forward to tremendous business opportunities in the Chinese market. The retail giant plans to have 100 stores in the country in the next three years. For the time being, multinational retailer operates 34 stores across China, including the new premises opened on May 11, 2013 in Jiaxing, Zhejiang province.
By the end of 2013, the company aims to have 50 stores across the Asian country. The toy retailer entered the Chinese market in 2006 and opened its first flagship store in Super Brand Mall in Shanghai Pudong New Area. Toys R Us also declined to reveal its sales growth, but said it had achieved a double-digit growth in the past few years.
Mark Murphy, managing director of Toys R Us in China, said that most new stores will be community stores which will cover an area of 700 to 1,000 square meters. The stores will have additional focus on learning products. These learning products are the most popular products in China at the moment.
Murphy also went on to say that people in China are demanding more quality, which is the main reason why the company is expanding in the country since 2011. New stores will open in first-tier cities like Shanghai, Beijing and also the lower-tier cities.