Spencer’s in strategic tie-up with British retail chain Woolworths Group
Spencer’s Retail has entered into an exclusive tie-up with British retail chain Woolworths Group Plc. The tie-up will enable Indian kids to have access to toy brand Chad Valley, which is owned by Woolworths. This would be the first Chad Valley outlet in Asia. Chad Valley toys are for newborns to 10-year-olds and would be priced from Rs 49 onwards.
The tie-up was announced by Sanjiv Goenka, Vice Chairman, RPG Enterprises, on June 7. Woolworths Group had looked into the market for the last 4- 8 years before venturing here. The tie-up is expected to culminate in 10 such stores in Spencer’s Hypermarkets by the end of this year.
Referring to the growing importance of toys in Spencer’s retail business, Goenka said that there were enough reasons for Spencer’s to take a serious look at the toy business in India and that this huge market was no longer ‘child’s play’. He added that the tie-up with Woolworth’s Chad Valley was the culmination of a world wide search to secure for Indian kids innovative, educative and affordable toys.
Simon Brown, International Head-Sales & Marketing, Woolworths Plc, said, “Chad Valley is unique in many ways. While it has a history of 150 years, it has a dynamic programme of product innovation backed by some of the finest toy designers in the world. This is our first major international tie-up in Asia, and we definitely expect this to be a major success.”
He further said that there was bigger opportunity in the Spencer’s stores as people spent more time in the stores while shopping. He added that the company was looking at a tie-up with Spencer’s for kid’s clothing by September 2008.
Woolworths Group is focused on home, family and entertainment. Besides toy brand Chad Valley, it owns brands like LadyBird children’s clothing range, and the WorthIt! value ranges.
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