The studio division of Time Warner - Warner Bros. has announced plans to open a minimum of 200 stores in China in the years ahead. The move is sparked by a continual growth in extra spending cash by the Chinese along with a growing demand for real branded merchandise.
According to Michelle Chan, Hutchison Harbour Ring's managing director, at a press conference she said "In the long run, we would like to open no less than 200 stores. During the next few years, we would like to make 200 as a target."
The first store was opened in China on Sunday in Shanghai and is operated by a subsidiary of ports-to-telecoms conglomerate Hutchison Whampoa Ltd.'s toy production unit Hutchison Harbour Ring.
From Shanghai and other parts of mainland China, including Guangshou and Shenzhen, they plan on expanding to Hong Kong and Macau.
With the growing popularity of their well-known characters such as Mickey Mouse and Bugs Bunny, Walt Disney, along with Warner Bros. are looking to cash in big with the huge market of 300 million children under the age of 14.
Disney already has a huge presence in China as it markets its merchandise in 2,600 retail stores around the country, and is looking to increase that to close to 6,000 by 2009.
It is estimated that the Chinese will spend close to $12.5 billion on toys by 2010.
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I wrote about the recent strategy of Warner Bros. to enter into the China toy market with the goal of opening 200 stores in the years ahead. There is a great story that goes along with this that can assist... [Read More]
Tracked on: March 26, 2006 4:09 PM | Permalink to Trackback