(BSNS WIRE) eToys To Make International Debut With U.K. Launch This Fall
eToys To Make International Debut With U.K. Launch This Fall
Business Editors
LONDON--(BUSINESS WIRE)--Aug. 31, 1999--eToys Inc. (Nasdaq:ETYS),
the leading Internet retailer of children's products, Tuesday
announced plans to expand internationally this fall with the launch of
its kids' retail Web site in the United Kingdom.
The move represents eToys' first market entry outside of the
United States.
eToys said that it intends to introduce a Web site designed
specifically for the U.K. in time for this year's holiday season and
said that warehousing for its toys and other children's products had
been established in Swindon, west of London.
"International expansion is a cornerstone of our growth strategy
and advances our goal of becoming a premier global kids' retail brand
in the 21st century," said Toby Lenk, eToys' president and chief
executive officer. "Our U.K. launch will enable us to bring to this
market the same combination of superior selection and customer service
that has made us the gold standard in kids' retail in the U.S."
eToys said that the U.K. will serve as a beachhead for expansion
across Europe and will provide the company with valuable international
operating experience as it rapidly builds its business. A unified
Europe is the world's largest consumer market, and Internet usage on
the continent is expected to quadruple to nearly 50 million households
by 2003, according to industry analyst Jupiter Communications.
The company said that its overseas drive is being spearheaded by
Ruben Rodriguez, who joined eToys in May as vice president of
international. Rodriguez brings a decade of international general
management and toy industry experience to his position. He most
recently served with The Boston Consulting Group, where he led
globalization strategies for leading consumer and retail brands.
The company also announced the appointment of James Bidwell as
the director of marketing for Europe. Bidwell, a U.K. national,
brings a diverse international marketing background to his post,
having served in senior marketing capacities with companies like Sega
Amusements Europe and The Walt Disney Co.
About eToys
Based in Santa Monica, Calif., eToys Inc. (www.etoys.com; AOL
keyword: eToys) is the leading Internet retailer for children's
products, carrying more than 100,000 items, including both nationally
advertised and specialty toys, software, videos, music, video games,
books and baby-oriented products. By combining this extensive
selection, an attractive, easy-to-use Web site and excellent customer
service, eToys offers consumers a unique one-stop source for
children's products. Through its wholly owned subsidiary, BabyCenter,
Inc. (www.babycenter.com), eToys offers Webby-award-winning content
and community for new and expectant parents.
Forward-Looking Statements
Statements made in this document that are forward-looking involve
risks and uncertainties that could cause results to differ materially
from those expressed. Such risks and uncertainties include, but are
not limited to, eToys' expectation of operating losses and negative
cash flow for the foreseeable future. There can be no assurance that
the company's international expansion will have a positive impact on
eToys' business, financial condition, or prospects. Other risk factors
include eToys' limited operating history, unpredictability of
operating results, seasonality, inventory risk, reliance on key
vendors and distributors as well as the competitive marketplace. Other
risks are set forth in eToys' Form 424B4 Prospectus dated May 19,
1999, under the heading "Risk Factors" and in eToys' other filings
with the Securities and Exchange Commission.
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CONTACT: eToys Inc., Santa Monica
Ken Ross, 310/664-8410 (media)
Suki Shattuck, 310/664-8356 (investors)
James Bidwell, 011-44-181-222-9463 (international)
KEYWORD: CALIFORNIA INTERNATIONAL EUROPE
INDUSTRY KEYWORD: INTERACTIVE/MULTIMEDIA/INTERNET COMED RETAIL
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