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(Update) Toy store chain King Jouet is increasing its market share in Belgium. A major contributor is the trend that adults collect more and more toys: this should be good for 15 % of total sales next year. Yet the retailer also has to close shops.
Strong September
With its 0.6 % growth, King Jouet is outperforming the market. September even saw a 6.5 % sales growth, Group Managing Director Pierre Chalmandrier reports. “The figures clearly show that we are succeeding in capturing consumers’ attention, despite the economic and sectoral challenges”, he says, adding that he also expects a lot from Black Friday.
The toy store chain is thoroughly renovating its shops, working on product availability, increasing its communication budget by 20 % and further expanding its range of “Kidults” products. Toys for adults with a passion for collectables have become one of the main growth pillars for the retailer, which aims to earn 15 % of its total sales from them next year – up from 12 % today.
Shrinking market
Still, it is not all good news at the toy chain: the shop in Jemeppe-sur-Sambre will close next year, two other shops, including Mouscron, will relocate. After a strong September, the retailer saw sales fall by more than 10% in October. Nevertheless, Chalmandrier remains positive: ‘Over the first 10 months of the year, the Belgian toy market shrank by 3.4%, while we only lost 1%,’ he told L’Echo.
King Jouet entered the Belgian market in 2020, after acquiring Maxi Toys. Today, the retailer has 23 shops in the French-speaking south of the country. The group also operates in France and Switzerland.
