Toys ‘R’ Us looks to reconquer market quota in Portugal and Spain
The multinational toy giant Toys ‘R’ Us has beefed up its online presence on the Iberian peninsula in a bid to reconquer its market share in Portugal and Spain and aims to turnover €170 million this year.
“We want to recover the share that we used to have before the company wound up in the United States. The goal is to turnover more than €170 million in 2019 and exceed the €200 million mark within four years” said the CEO of Toys ‘R’ Us Iberia, Paulo Sousa in an interview with the news agency EFE.
In order to recover the market share in Portugal and Spain the company once had, which plummeted from 17% to 15% in three years, the company has speeded up the agility and delivery of its products as well as revamping its internet site, including enabling purchases on mobile devices.
“On the other hand, Toys ‘R’ Us will continue to invest in increasing the number of physical shops as well as building up its presence through an improved online experience” said Paulo Sousa.
The multinational saw €152 million in sales in Spain and Portugal in 2018, down 15.5% on 2017, the period which coincided with the closure of shops in the United Kingdom and with the winding up of the business in the United States.
In August 2018 the toy shop chain announced that it would continue operations on the Iberian Peninsula after its purchase by Portuguese investors Green Swan led by Paulo Andrez.