Toys”R”Us partners with Reliance Retail

Mukesh Ambani’s Reliance Retail which has opened the country’s first Hmaley’s toy store, is all geared up to bring the world’s leading toy retailer Toys “R”Us to India.The two companies are close to signing a joint-venture agreement to open Toys“R”Us stores in India.The New Jersey-headquartered Toys“R”Us runs more than 1,500 toy supermarkets across 34 countries and has annual revenues in excess of $13 billion. It has the world’s largest toy store at New York City’s Times Square. It also owns brands such as Babies“R”Us, FAO Schwarz and KB Toys. Reliance Retail had in April opened the first outlet of Hamleys, the iconic 250-year-old British toy retailer, in Mumbai.To tap substantial share in 6,000-crore Indian toy market, Reliance is continuously in talks with the international brands to bring them to Indian markets.The company also has joint ventures with UK’s apparel retailer Marks & Spencer , Dutch optical firm Pearle Europe, US stationery chain Office Depot , Italian men’swear brand Ermenegildo Zegna Group and US-based Apple Inc, among others.