Toys 'R' Us, an American toy and clothes company, is believed to have closed a store it established in hyderabad to commemorate its second foray into india within 24 hours due to legal issues with the mall owner, according to sources. On march 11, Toys 'R' Us launched a location in Hyderabad's Sarath City capital mall, but it was shut down within a day, according to two persons with knowledge of the situation. The company, its indian operator, and the mall owners all failed to respond to emails sent to them.

Insiders say a no-compete clause with another worldwide toy business is alleged to be behind the mall pulling the plug on Toys 'R' Us. The no-compete provision prevented the two rival toy merchants from operating in the same mall, just as Coke and Pepsi are rarely sold from the same restaurant. The mall already housed a store for the other retailer.

Toys 'R' Us, the largest toy retailer in the world, and Babies 'R' Us, a one-stop shop for infant necessities, have both been introduced in India. It is managed by Ace Turtle, a company based in Bangalore, which in june 2021 went into a joint venture to purchase the licence for Toys 'R' Us and Babies 'R' Us.

When the toy store partnered with Tablez india, a unit of the Lulu Group international of Abu Dhabi, it attempted to enter the indian market but was unsuccessful. With intentions to develop more than 200 outlets, it introduced the international toy brand in india in october 2017. However, it was only able to open 14 locations, all of which closed their doors after three years of business.

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G GOWTHAM

15/03/2023 10:11 AM