WHP Global, parent company to Babies 'R' Us, announced that they had signed an exclusive long-term license agreement with Ragabesh & Co. to bring the children's store to Brazil for the first time.
The agreement covers physical retail commerce with plans to open an estimated 20 freestanding Babies' R' Us stores in the market.
"This expansion is part of our overall strategy to develop both the Babies 'R' Us and Toys 'R' Us businesses in existing and new high growth markets such as Latin America," says Yehuda Shmidman, chairman, chief executive officer, WHP Global. "We are thrilled to partner with Ragabesh to bring this beloved family brand to Brazil for the very first time – making it even more accessible to our loyal global customers."
"There is a massive opportunity for a trusted brand like Babies' R' Us to serve the growing population of millennial parents in the largest country in Latin America," says Paulo Turquiai, chief executive officer, Ragabesh. "We look forward to working with the WHP Global team and leveraging our vast network of suppliers to bring the first Babies 'R' Us retail stores to Brazil."