Toy stores, under siege in the U.S., find new life in China [Los Angeles Times (CA)]
Mattel, Inc. (MAT)
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Source: Los Angeles Times
Toy stores, under siege in the U.S., find new life in China Toys R Us outlets are closed in the United States, but the brand’s stores are still a popular destination for Shanghai resident Pan Wei. A 35-year-old manager for an entertainment company, Pan does most of his shopping online but prefers physical shops when buying toys for his daughter. “When it comes to products for kids, we want to make sure it’s safe, so we prefer going to toy stores," he said. More than a year after the New Jersey-based chain filed for bankruptcy, forcing the closure of hundreds of stores and layoffs of 33,000 workers in the United States, Toys R Us Asia is very much alive. Last month, a group of Toys R Us creditors reached a deal with the retailer’s Asian partner, Hong Kong-based Fung Retailing Ltd., to share control of the company’s stores in China, Japan and Southeast Asia. Other international brands are also betting that Chinese consumers are willing to go to physical stores with their children or gra
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