TRU Combines TRU Japan, Asia Ltd. Businesses
Toys “R” Us, Inc. entered into an agreement to unify its Toys “R” Us Japan business with its Toys “R” Us business in Greater China and Southeast Asia, a joint venture between Toys “R” Us and Fung Retailing Limited.
Under this agreement, Toys “R” Us Japan, which operates 160 stores in the country, will become part of Toys “R” Us Asia. The combined business will now be approximately 85 percent owned by Toys “R” Us and approximately 15 percent owned by Fung Retailing. Toys “R” Us Asia and its subsidiaries operate 223 stores in Greater China and in the Southeast Asia markets, which includes Toys “R” Us stores in Brunei, China, Hong Kong, Malaysia, Singapore, Taiwan, and Thailand, and licenses an additional 34 stores in the Philippines and Macau.
Andre Javes, president of Toys “R” Us Asia Pacific, will continue to oversee all operations of the combined businesses, as well as Toys “R” Us Australia.
The combined company will be headquartered in Hong Kong, while a regional office will continue to operate in Kawasaki, Japan, where Toys “R” Us Japan is based.
Target Joins TIA
The Toy Industry Association (TIA) announced that Target has joined the association as a member.
In 2011, TIA amended its bylaws to allow retailers, licensors, inventors, and independent sales representatives to join the association as full regular members.
“We’re honored to welcome our colleagues at Target as active participants in the association,” says Steve Pasierb, TIA president and chief executive. “We know buyers and retailers of all types and sizes have brought important perspectives to our work as a unifying force in the toy community. We’re excited to both represent Target and include the talent of their people on our committees, as the voices of members consistently strengthen our outcomes.”
Target will play an active role in the Association, with Don Asleson, senior compliance analyst at the retailer, joining TIA’s federal, state, and safety standards/technical committees.
Identity Games Transfer Ownership
Identity Games’ ownership is now in the hands of a new management team. Managing director Erik Spindler has transferred on all his remaining shares in the company, as he moves on to explore new opportunities and challenges. Albert Meuter, founder and managing partner, and Emile Kalis, managing director USA, as well new shareholders take over management. New shareholders include Jeroen Nugteren, general manager international, and Jan- Maurits Duparc, chief creation, who received some of Spindler’s shares.
“We thank Erik for his efforts over the past seven years and wish him every success in his new activities and future career,” says Meuter.
Meuter and Kalis founded Identity Games in 1992. This year, the company celebrates its 25th anniversary. The Dutch company has 25 years of experience in designing, producing, marketing, and selling games such as Boom Boom Balloon, Hide & Seek, and Who’s the Dude. Identity Games has offices in Rotterdam and Seattle. In 2016 Identity Games sold 1.8 million games worldwide in 20 countries. With the new management team, Identity Games expects to grow to 2.5 million games in 2017.