| Toys International.Com Wednesday opened the first major Germany-language online toy store, a new venture is backed by some of the country's biggest business names.
The Webjumbo storefront is supported by Deutsche Poste, which will handle processing and shipment of the online orders, and Deutsche Telekom, which will provide ISP services and uplink.
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The company is planning rapid expansion in Europe over the next six months.
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"As e-Toys was first in the US, we are first in Europe," said Richard
Brady, WebJumbo's president. "We believe that the European market represents $100 billion in toys, videos, and child-related products."
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Toys International is also developing a similar toy Web site to launch in the US, where it currently has 22 retail stores. The company expects to beat the heavy e-tail competition by sharing inventory and overhead costs with its bricks-and-mortar businesses, which the company plans to use to offer discount prices.
Toys International.Com Inc., is heading towards an IPO in Europe, expected to take place in November.
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