Ace Turtle, Flipkart, Toys'R'Us

Signage is displayed outside a Toys R Us Inc. retail store in Louisville, Kentucky, U.S., on Monday, Sept. 18, 2017. Photographer: Luke Sharrett/Bloomberg

E-commerce firm Flipkart Group’s wholesale entity in India and Ace Turtle, an omnichannel enablement platform, on Tuesday, said a joint venture company set up by them has secured licensing rights for toy and baby brands Toys“R”Us (TRU) and Babies“R”Us (BRU) in the country.

This has been done through an arrangement with WHP Global, the controlling shareholder of Toys“R”Us. With this, both the brands will now be available to consumers online through sellers in India.

Walmart-backed Flipkart Group will now compete with Reliance Brands that owns premium toy chain Hamleys.

Flipkart said it will utilize its reach and expertise in technology and customer experiences, coupled with Ace Turtle’s omnichannel technology, enabling buy-online and ship from store or pick up from store, endless-aisle, and other technological innovations.

The collective expertise of Flipkart and Ace Turtle establishes them as the partner of choice for Toys“R”Us’s business growth in India, the companies said.

In the last few years, the selection of products under the toys and games category on Flipkart has grown significantly. In 2020, the marketplace recorded growth of close to 100%, with consumers shopping online for their toys and baby care needs as they stayed indoors.

“As a homegrown platform, we are constantly striving to build meaningful partnerships that are centred around the needs of our users. With the Toys“R”Us global standard of quality, Indian consumers will now have access to many toys and baby care products,” said Kalyan Krishnamurthy, CEO, Flipkart Group.

“This partnership with Ace Turtle and WHP Global will see both firms bringing the best of their domain knowledge and expertise to innovate and provide customer-centric product selections that have value and quality at the core. In addition, we believe this partnership will encourage efforts to grow the toy manufacturing industry in India,” he added.

Nitin Chhabra, CEO, Ace Turtle, said, “…Flipkart Group, India’s leading omnichannel enablement platform – Ace Turtle and the world’s leading toy brand, Toys“R”Us, are coming together to deliver future-ready consumer experience across online to offline. It’s a win-win for Indian consumers.”

Toys”R”Us and Babies”R”Us generate over $2 billion in global retail sales annually through nearly 900 branded stores and e-commerce businesses in 25 countries.

“We are excited by the tremendous potential of this new partnership, as India is one of the fastest-growing consumer markets in the world with real spending power among a rapidly growing population. We look forward to working closely with Flipkart and the Ace Turtle team to build Toys“R”Us and Babies“R”Us into the leading destination for toy and baby products in India,” said Yehuda Shmidman, chairman and CEO, WHP Global and Toys“R”Us.

To be sure, in October 2017, Toys“R”Us entered India with Tablez India, the retail arm of UAE-based LuLu Group, that worked as its exclusive master franchisee to open stores in the country. The move came after the toy retailer filed for bankruptcy in the United States after reporting decline in sales and mounting debt.

According to a news report by CNBC-TV18, Tru Kids bought the brands and intellectual property from Toys“R”Us in September 2017.

In March 2021, WHP Global acquired a majority stake in Tru Kids Inc., the parent company of Toys”R”Us, Babies”R”Us, Geoffrey the Giraffe brands.

It was not clear immediately whether existing retail stores of Toys“R”Us will cease to operate in India.

The article was first published on livemint.com.


Japan travel news, japan travel guides, japan holiday destinations and japan reviews

LATEST NEWS

NEWS RELATED

Flipkart challenges Karnataka HC decision: Here's a look at its key contentions

Flipkart Headcount in India: 12,000 | Top India locations: Bengaluru Area, New Delhi Area, Mumbai Area | Most common skills: Supply Chain Management, Vendor Management, Operations Management | In-demand jobs: Business Development, Operations, Information Technology (Image: Reuters) The Walmart-owned Flipkart has challenged Karnataka High Court’s judgement which allowed the Competition…

Read more: Flipkart challenges Karnataka HC decision: Here's a look at its key contentions

Walmart’s Flipkart, Amazon challenge India court order permitting antitrust probe

Photo by rawpixel on Unsplash Walmart Inc’s Flipkart and Amazon.com Inc have filed legal challenges against the resumption of an antitrust investigation into their business practices, according to sources and a legal filing viewed by Reuters. The Competition Commission of India (CCI) launched an investigation in January last year after…

Read more: Walmart’s Flipkart, Amazon challenge India court order permitting antitrust probe

Amazon, Flipkart challenge Karnataka HC order to stall CCI probe

Walmart-owned Flipkart and Amazon India have both challenged the Karnataka High Court order with a new appeal made to the division bench over the Competition Commission of India (CCI) probe on the ecommerce majors. Last week, the HC had dismissed a plea by Flipkart and Amazon India paving the way…

Read more: Amazon, Flipkart challenge Karnataka HC order to stall CCI probe

Flipkart challenges Karnataka HC judgement in division bench, Amazon tags along

Amazon’s counsel also asked for his matter to be tagged along with Flipkart’s appeal. Walmart-owned Flipkart has challenged the last week’s judgement of the Karnataka High Court allowing the Competition Commission of India (CCI) to continue its investigation against the company in a division bench. Amazon‘s counsel also asked for…

Read more: Flipkart challenges Karnataka HC judgement in division bench, Amazon tags along

MindTickle to turn unicorn with $100 million funding from SoftBank

Bengaluru: SoftBank Vision Fund is continuing its dealmaking spree in India. After social commerce startup Meesho and banking technology platform Zeta, the technology-focussed investor is set to put another $100 million in portfolio firm MindTickle. This will make the software-as-a-service (SaaS) company a unicorn, valuing it at $1.1 billion, sources…

Read more: MindTickle to turn unicorn with $100 million funding from SoftBank

Flipkart opens new fulfilment centre in West Bengal

Flipkart on Wednesday announced that it has opened a new fulfilment centre in West Bengal which is its second-largest in the state to ramp up its supply chain infrastructure in the East. The new centre in Dankuni is spread over 2.2 lakh square feet and creates nearly 3,500 direct jobs…

Read more: Flipkart opens new fulfilment centre in West Bengal

After Flipkart, Myntra rolls out family support policy for employees

New Delhi: Myntra, under its family support policy, will provide financial and non-financial support to the families of deceased employees. The move by the online fashion retailer follows a similar initiative by parent Flipkart. This policy is effective January 2021 in the form of immediate financial assistance to the immediate…

Read more: After Flipkart, Myntra rolls out family support policy for employees

Here's why this niche apparel portal decided to stay away from Amazon-Flipkart

Khalid Raza Khan, Founder & CEO, YourLibaas (Source: Company) Seven-year-old designer apparel commerce platform YourLibaas is not a regular fashion portal. Having created a niche in exotic lawn cotton, the company proudly claims to be catering to the premium segment, with an average ticket size of Rs 5,000. It sells its products…

Read more: Here's why this niche apparel portal decided to stay away from Amazon-Flipkart

DSG, Synergy lead XYXX’s Rs 30-crore Series A funding round

Govt should initiate strong action against Amazon-Flipkart following Karnataka HC judgement: Praveen Khandelwal of CAIT

Opinion | Like China, India, too, needs its own home-grown e-commerce champions

India’s antitrust watchdog to expedite Amazon, Flipkart probe

India to expedite Amazon, Flipkart probe as Big Tech focus intensifies

Amazon, Flipkart test waters with a wave of measures

Flipkart may get an investment of over Rs 3,000 crore by ADQ

News Analysis | Karnataka HC order throws spotlight on Amazon’s FDI rule violations

OTHER NEWS