Al-Futtaim is a retailer for Toys "R" Us in six countries including Bahrain, Egypt, Kuwait, Oman, Qatar and the U.A.E.
Read the Bloomberg story here.
Additional stores would give Amazon space to showcase its popular Echo line of devices, which run on the Alexa voice-activated platform. It also comes six months after Toys "R" Us filed for Chapter 11 bankruptcy, in an effort to shed $5 billion it had accumulated in debt and reinvest the $400 million it was spending a year to pay that off, into its stores.
A bigger network of stores would put inventory closer to where shoppers live, potentially enabling quick delivery to e-commerce customers.
Interestingly, despite cut-throat competition among brick-and-mortar retailers everywhere, Toys "R" Us has never had any competitors with the same distinct brand recognition or product assortment.More news: White House Looks to Slash China's Bilateral Trade Surplus by $100 Billion
Last week, Toys R Us's US-based CEO David Brandon was quoted by The Wall Street Journal as saying that the retailer's 39 stores in Australia would likely be liquidated.
When we asked about returns, employees said get them in as soon as possible, today even or at the latest tomorrow, but a different employee said it will be up to the liquidation team as to whether or not returns will be taken. Its Canadian unit is up for sale, along with its operations around the world.
Toys R Us' collapse is in part due to growing pressure from Amazon, which has disrupted the entire sector by offering numerous same items at significantly lower prices and with the convenience of delivery. Its division in the U.K.is being wound down.
"We have a $14-$15m payment due that hasn't been paid", Isaac Larian, chief executive of Bratz dolls maker MGA Entertainment, said.
Right now, the plan is to open about 1,000 pop-up stores ahead of Black Friday this year.