MAM
Ace Turtle teams up with Funky Monkeys to launch Indoor Play Areas across its Toys“R”Us stores in India
Mumbai: ace turtle, a technology-native retail company and Funky Monkeys, India’s premier indoor play center today announced their partnership to launch Indoor Play Areas at Toys“R”Us stores across the country. The first collaborative venture between Funky Monkeys and ace turtle will unfold within the expansive 12,500 sq ft. Toys“R”Us flagship store is located at Linking Road, Bandra in Mumbai.
The new space will showcase the best of what each brand offers and will ensure that kids who visit have the time of their lives from the moment they set foot in! Funky Monkeys will be opening its play center on the top floor of the Toys“R”Us flagship store, offering its signature play and birthday party experiences for kids. Spanning multiple floors with a wide assortment of international and Indian toy brands, the Toys“R”Us flagship store, launched in December 2023, has redefined the toy shopping experience. With the new addition of the Funky Monkeys Play Area, families and kids can now look forward to a greater experiential shopping experience in the store.
“Partnering with Toys“R”Us India is a unique opportunity for Funky Monkeys to offer our unparalleled play experiences for kids in a fun, safe and clean indoor environment. Toys“R”Us globally has been the most trusted destination for children and parents looking for toys for more than 70 years and we are excited to partner with them and share our expertise in Indoor Play Management,” said Funky Monkeys Play Centers founder & managing director Binita Bodani Putcha.
“We look forward to opening many more Centers along with Toys“R”Us as they expand to other cities across India. Kids and parents can now experience a world-class integrated experience of shopping for toys and playing within the same space!” said Sanjay Ghadiali, Co-Founder & Director, Funky Monkeys Play Centers.
Commenting on the partnership, ace turtle CEO Nitin Chhabra the exclusive licensee of Toys“R”Us in India said, “We are excited to have partnered with Funky Monkeys Play Centers, India’s premier indoor play centre & birthday party venue for kids and to launch a play area at our Bandra store. At India’s largest high-street toy store, we aim to offer more than just a visit – we want families to enjoy a memorable and delightful time together, creating moments of joy and recreation. We look forward to providing the globally renowned and signature toy shopping and playing experience to kids and their parents in Mumbai.”
Funky Monkeys Play Centers are exclusively designed for children aged 6 months to 14 years and offer hands-on discovery and learning through spontaneous and unstructured ‘Free Play’, while incorporating elements of fun and entertainment. Each centre has two play zones – a Toddler Zone & a Junior Zone, offering a unique environment for kids to ‘Play & Learn’ in along with a full-service café and birthday party area.
In 2023, ace turtle unveiled the first Toys“R”Us store in India in Hyderabad and the flagship Toys”R”Us store in Mumbai both of which have received phenomenal responses from customers. ace turtle plans to expand the retail footprint of Toys“R”Us to other cities in India this year. Additionally, customers across India have been shopping for their favourite toys from the online store.
Brands
Adobe CEO Shantanu Narayen to step down after 18 years in role
Board begins CEO search as Narayen prepares to move to chair role
SAN JOSE: After nearly two decades at the helm, Adobe’s long-serving chief executive Shantanu Narayen is preparing to pass the baton.
The company announced that Narayen will transition from his role as chief executive officer once a successor is appointed, ending an 18-year run that reshaped Adobe from a boxed software seller into a global cloud and AI powerhouse. He will remain chair of the board following the leadership transition.
Adobe’s board has formed a special committee to oversee the succession process, led by lead independent director Frank Calderoni. The committee will evaluate both internal and external candidates.
“Shantanu’s leadership has been instrumental in Adobe’s transformation and in positioning the company for the AI-driven era,” Calderoni said in a statement. “As we begin the next phase of succession planning, our focus is on identifying the right leader for the company’s next chapter while ensuring a smooth transition.”
In a note to employees, Narayen described the moment not as a farewell but as a pause for reflection after a long journey with the company.
“I love Adobe and the privilege of leading it has been the greatest honour of my career,” he wrote, adding that he will continue to work closely with the board over the coming months to ensure a seamless leadership change.
Tributes from the technology industry quickly followed the announcement. Microsoft chairman and chief executive officer Satya Nadella congratulated Narayen on what he described as a “legendary run” at Adobe.
“Congrats Shantanu, on a legendary run at Adobe! You’ve built one of the most important software companies in the world, and expanded what’s possible for creators, entrepreneurs, and brands everywhere,” Nadella wrote on LinkedIn.
“What has always stood out to me is the empathy you’ve brought to the creative process and the example you’ve set as a leader. Grateful for your friendship, mentorship, and for all you’ve done for Adobe and for our industry.”
Narayen’s career at Adobe spans nearly three decades. He joined the company in 1998 as vice president and rose steadily through the ranks before becoming chief executive officer in December 2007.
During that time, he orchestrated one of the most significant reinventions in the software industry. In 2013, Adobe made the bold decision to abandon traditional boxed software sales and move its flagship creative tools such as Photoshop to a subscription-based Creative Cloud model. The shift initially rattled investors but ultimately transformed Adobe into a predictable recurring revenue business and a case study in digital reinvention.
Narayen also pushed Adobe beyond creative tools into the world of marketing technology and data-driven customer experience, spearheading acquisitions such as Omniture and Marketo. Those moves helped build Adobe’s digital experience division and broaden its reach far beyond designers and photographers.
The numbers tell the story of that transformation. When Narayen took over in 2007, Adobe generated roughly $3 billion in annual revenue. Today the company reports more than $25 billion. Over the same period, its workforce expanded from around 3,000 employees to more than 30,000.
In recent years, Narayen has steered Adobe into the generative AI era with the launch of Adobe Firefly, aiming to keep the company ahead in a rapidly evolving creative technology landscape.
Born in Hyderabad in 1963, Narayen studied electronics and communication engineering at Osmania University before moving to the United States for a master’s degree in computer science from Bowling Green State University. He later earned an MBA from the Haas School of Business at the University of California, Berkeley.
Widely regarded as one of Silicon Valley’s most steady and effective leaders, Narayen has earned multiple honours during his career, including India’s Padma Shri in 2019.
For Adobe, the upcoming leadership change marks the end of a defining chapter. For Narayen, however, the story is far from finished. As he told employees, the company’s next era of creativity, powered by AI and new digital workflows, is only just beginning.
