Toys R Us eyes China expansion over three years

Asian toy retailer Toys R Us aims to open 50 new stores a year in China over the next three years as the nation undergoes a consumption upgrade and more couples have a second child. The expansion plan will make China its biggest market in Asia by 2021, said the company's China head.

"China is the fastest growing Toys R Us market in the group. We do see a lot of future growth in China. I think we can double our stores ... at 400 stores by 2021, when we reach that China will become probably the biggest market in the group," said Nicholas Green, managing director of Toys R Us China.

The new stores, like other Toys R Us chains with an average size of 800 square meters, will mostly be located in first-and second-tier cities.