ToysRus expects Indian market to be among the top 5 in next 4-5 years

ToysRus, which started operations in India this year, expects the country’s market to be among its top five in four to five years.

“The Indian economy is more dynamic than many others. Our experience with toys is that globally there are very strong markets and ToysRus as a brand works in all geographies,” Stanley Silverstein, chief commercial officer at WHP Global, told Business Standard in an interview.

The global toy retail chain is owned by WHP Global and, in India, it has partnered Ace Turtle and Flipkart.

“I believe that the India business will be among the top five for ToysRus globally in four to five years,” said Nitin Chhabra, chief executive officer, Ace Turtle.

Silverstein said the US-based toy retail chain worked in every kind of geography, and it was a function of picking the right partner.

“We are satisfied and happy about our relationship with Ace Turtle and Flipkart,” he said.

Chhabra said due to the new norms of the Bureau of Indian Standards (BIS), the retailer was procuring most of its toys from India because high-end toys were also being manufactured in India.

Prior to the BIS norms, India heavily relied on imports from China for such toys.

“The government’s ‘Make in India’ initiative seems to be coming in full swing with people setting up manufacturing facilities, and I think we should get there in the next year or so by having even high-end toys manufactured here,” Chhabra said.

Currently, ToysRus has two operational stores in the country. It has just opened in Mumbai its second store, which is its flagship, with 12,000 square feet. Over three years, Chhabra said, it plans to open another 75 stores in the country.

“We have signed up about 12 more locations to open more stores across the country.”

Most stores of the toy retail chain store size will be in the range of 8,000-10,000 square feet.