This is huge news for the American economy, and an amazing and exciting time for all of us who were devastated when our childhood store Toys R Us closed in 2017.
The new parent company is called Tru Kids Inc, doing business as Tru Kids Brands, and in January of 2019 they became the proud parent of Toys R Us, Babies R Us, Geoffrey, and over 20 other established toy and baby brands.
“We have a once in a lifetime opportunity to write the next chapter of Toys R Us by launching a newly imagined omnichannel retail experience for our beloved brands here in the U.S.,” said Richard Barry the new CEO of the companies.
Barry pointed out that both brands of Toys R Us, and Tru Kids have over 9 Million followers in their social media channels, and they look forward to growing.
MGA Entertainment Inc., one of the best-performing toymakers in the world, is already on board to sell at the re-imagined Toys “R” Us shops, said Chief Executive Officer Isaac Larian, who said he has been pitched the plan. His company’s properties include Little Tikes, L.O.L. Surprise! and Bratz dolls.
“This market needs a self-standing toy store, that’s for sure,” Larian said in an interview. “We will sell them inventory.”
They will be opening a few new retails stores, and of course e-commerce will play a much bigger role this time around.
The stores are slated to be about 10,000-square feet, roughly a third of the size of the brand’s big-box outlets that closed last year, the people said. The locations will also have more experiences, like play areas. The startup costs could be minimized with a consignment inventory model in which toymakers ship goods but don’t get paid until consumers buy them, some of the people said.
A spokeswoman for Tru Kids said the company wasn’t ready to publicly share details on its U.S. strategy.
Tru Kids will be headquartered in Parsippany, New Jersey, only 20 minutes from Toys R Us original headquarters in Wayne, New Jersey.
Are you excited about the return of our child hood toy store returning?