The Musgrave Group is to invest £5 million in the expansion of its specialist children's entertainment and leisure franchise, World of Wonder, with plans to add a total of 24 new stores this year. The Group already operates seven stores. By the end of the year, World of Wonder's 31 stores nationwide is expected to have an estimated turnover of £30 million.
The expansion plan includes a new franchise deal with Roches Stores to open 11 World of Wonders shops within its existing department stores.
The franchise was launched by Musgrave Group last August. Musgrave Group also operates the SuperToys franchise which comprises of 30 owner-operated outlets countrywide - accounting for 15% of the Irish toy market.
On average over £170 will be spent this year on leisure and entertainment products for each of the 700,000 Irish under 12s. The toy market is valued at about £120 million, an increase of over 6% from last year's market value, with the Christmas market accounting for 60% of that.
