Children’s goods retailer Toys ‘R’ Us says it plans to open a 3,000sq m experiential retail hub in Victoria if the company’s capital raising plan is successful.
According to an ASX announcement, the company has a target to raise up to $8M through an Entitlement Offer with a minimum subscription of $5M. About $3M will be invested in a custom-designed site for both Toys ‘R’ Us and Babies ‘R’ Us brands which will be attached to the label’s new purpose-built logistics and head office facility.
The site is anticipated to be one of the largest toy & baby stores in Australia and is forecast to deliver $7M in annual sales. A further $1M will be invested in marketing and IT platforms while another $1M will be used to scale the company’s state-of-the-art robotics and logistics centre.
