SOURCE: Fung Retailing Limited and Toys"R"Us Asia Ltd

Fung Retailing Limited and Toys

September 19, 2017 02:37 ET

Toys"R"Us's Joint Venture in Asia Unaffected by Toys"R"Us Inc.'s Financial Restructuring in US

HONG KONG, CHINA--(Marketwired - Sep 19, 2017) - Further to the recent announcement from Toys"R"Us Inc. with regards to its financial restructuring, Toys"R"Us (Asia) Ltd today confirmed it is not part of the Company's financial restructuring. Its stores are open for business and offering customers great service and a curated assortment of merchandise in the toy and baby categories.

Toys"R"Us (Asia) Ltd is a joint venture owned approximately 85% by Toys"R"Us Inc. and 15% by Fung Retailing Ltd (a privately-held entity and member of the Fung Group). It operates as a separate legal entity and is financially independent from all other Toys"R"Us operating companies around the world.

Toys"R"Us (Asia) Ltd and its subsidiaries operates 226 stores in Greater China and Southeast Asia -- including Brunei, China, Hong Kong, Malaysia, Singapore, Taiwan and Thailand and licenses an additional 35 stores in the Philippines and Macau. In March 2017 Toys"R"Us Japan was successfully integrated into Toys"R"Us (Asia) which added a further 161 stores to the pan-Asia toy store chain.

Andre Javes, President, Toys"R"Us (Asia) Ltd, reaffirmed: "Toys"R"Us (Asia) is open for business and continuing to serve our customers as we always do. We are a financially robust and self-funding retail operation, which continues to significantly grow and invest in this region. Every year we are opening new stores in all our markets and particularly in China where we now operate over 135 stores and will be opening another 22 in the coming weeks."

Javes added: "As the leading toy, baby and educational products retailer for children in Asia, we are very focused on delivering our full year results. Our teams are committed to excite our customers with unique and differentiated ranges, both online and a thrilling hands-on experience in come in and PLAY!"

Contact Information

  • For further media details please contact:

    Geoff Bilbrough
    FleishmanHillard Hong Kong
    Tel: +852 2586 7830
    Mobile: +852 9388 0790
    Email: Email Contact

    Chris Lee
    FleishmanHillard Hong Kong
    Tel: +852 2586 7851
    Mobile: +852 9212 8959
    Email: Email Contact