In this partnership, the collective expertise of Flipkart and Ace Turtle makes them the partner of choice for Toys“R”Us’s growth in India.
June 22, 2021
E-commerce major Flipkart has formed a joint venture with Ace Turtle to bring Toys“R”Us and Babies“R”Us to its platform.
As published in a leading daily, the joint venture company has secured licensing rights for Toys“R”Us and Babies“R”Us in India through a strategic arrangement with WHP Global – the controlling shareholder of Toys“R”Us.
“With this arrangement, the world’s most loved and trusted toy and baby brands, Toys“R”Us and Babies“R”Us, will now be available to consumers online through sellers in India,” the statement said.
Flipkart 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/pick up from store, endless-aisle, and other technological innovations, it noted. As per the statement, the collective expertise of Flipkart and Ace Turtle establishes them as the partner of choice for Toys“R”Us’s business growth in India. This is projected to strengthen Toys“R”Us’s brand presence and business, and further contribute to India’s growing toy sector.
Further, this strategic arrangement will endeavour to create new and exciting growth opportunities for local toys manufacturers/sellers in India, including MSMEs. The Walmart-owned company said its platform recorded growth of close to 100 percent in 2020 with consumers shopping online for their toys and baby care needs as they continue to stay indoors.
“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,” Yehuda Shmidman, Chairman and CEO at WHP Global and Toys“R”Us said.
“As a homegrown platform, we are constantly striving to build meaningful partnerships that are centered around the needs of our users. We are focused on ensuring that our users across India have access to a wide range of quality products,” Flipkart Group CEO Kalyan Krishnamurthy said.
Nitin Chhabra, CEO of Ace Turtle, said Toys“R”Us is the world’s leading toy brand, and that the partnership will help deliver future-ready consumer experience across online to offline.