Toy market news

China budget store king takes on Toys ‘R’ Us with new chain

Miniso to open first toy store, “Toptoy,” this month

Miniso Group Holding Ltd., the newly New York-listed Chinese budget retailer, is making its first foray into the $86 billion global toy market as it tries to take on heavyweights like Toys “R” Us Inc. on its home turf and beyond.

Known for selling low-cost items ranging from household goods to electronic gadgets with a clean aesthetic, Miniso will open the first store of its new chain “Toptoy” this month in Guangzhou.