The Walmart-owned Flipkart Group is bringing Geoffrey the Giraffe to India.
Flipkart and India’s omnichannel enablement platform Ace Turtle entered into a joint venture to bring Toys “R” Us (TRU) and Babies “R” Us (BRU) to India through a strategic arrangement with WHP Global, the controlling shareholder of Tru Kids Brands.
“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,” says Yehuda Shmidman, chairman and CEO, WHP Global. “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.”
With the new deal, consumers in India will be able to shop the TRU and BRU brands through newly established websites as Toys “R” Us looks to establish a wider presence and gain market share in the country’s growing toy market.
Since taking a controlling stake in Tru Kids Brands back in March, WHP Global has inked additional deals to expand the growth of TRU and BRU internationally, including Australia and New Zealand.
The entry of Toys “R” Us into India’s toy market will place it firmly up against competition from Reliance Brands, which has been growing its retail footprint with Hamleys and The Entertainer locations. In 2010 it was reported that Reliance was working with Toys “R” Us to open stores in the country. Eventually, TRU did plant a flag in the region through partnerships with other licensees.
