E-commerce major Flipkart said its wholesale entity in India has formed a joint venture with Ace Turtle to bring Toys’R’Us and Babies’R’Us to its platform.
New Delhi: 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 con-trolling shareholder of Toys’R’Us, a statement said. Details of the joint venture were not disclosed. For over 70 years, the global leader in the toy category has generated more than $2 billion in retail sales annually through nearly 900 branded stores and e-commerce businesses in over 25 countries. 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.