Lotte brings Toys ‘R’ Us to Korea

Toys “R” Us, the biggest U.S. toy store chain, will open its first store in Korea in December. It is the toymaker’s first step into Korea’s near billion-dollar toy market.
Lotte Shopping, Toys “R” Us’s exclusive partner in Korea, said yesterday that its discount chain, Lotte Mart, will open a Toys “R” Us shop in its store in the Guro District of western Seoul.
The 2,600 square-meter shop will stock some 8,000 different toys, such as Barbie dolls, stuffed animals and small robots, the company said in a statement yesterday.
“We plan to replace the toy sections in all Lotte Mart stores nationwide with Toy Box shops by 2010,” Lotte Shopping said in the statement. Toy Box is a Toys “R” Us section featured in another store.
Lotte Shopping also operates Korea’s largest department store chain, Lotte Department Store. Lotte Mart, which has 54 stores across the country, is tied with Home Plus as the No. 2 discount chain after E-Mart.
Toys “R” Us operates more than 1,500 large stand-alone stores and Toy Box-brand shops in the United States and 35 other countries. Its global annual sales amounted to $13 billion in 2006.
Lotte Shopping said it plans to operate some 20 Toys “R” Us stores nationwide by 2010, including 4 to 5 to be opened next year.
Korea’s total retail sales of toys amounted to 750 billion won ($816.6 million) last year.
About 45 percent of that was sold at discount stores and other supermarkets, according to the Korea Toy Industry Cooperative.

By Jung Ha-won Staff Writer [hawon@joongang.co.kr]