At the end of January, the new Tru Kids company was launched in the USA. It unites the Toys “R “Us brands and aims to give the toy retailer new strength.

Tru Kids is the new parent company of over 20 brands including Toys “R “Us, Babies “R “Us, Geoffrey the Giraffe, True Heroes and Imaginarium. The company’s goal is to recreate Toys “R “Us. To achieve this, the company relies on its own in-house expertise. Tru Kids managing director is Richard Barry, former Global Chief Merchandising Officer of Toys “R “Us. CFO Matt Finigan and licensing officer James Young have also worked for Toys “R “Us for a long time. From the new Tru Kids headquarters in New Jersey, they now want to get things moving again in the toy market. “We have an incredible team focused on getting Toys “R “Us and Babies “R “Us back in a whole new and innovative way so the US doesn’t have to spend another holiday without these beloved brands,” said Barry. The development of Toys “R “Us into a new company is a logical consequence for him. Because the name still has an outstanding brand strength.

Tru Kids sees great demand for Toys “R “Us

According to Tru Kids, Toys “R “Us and Babies “R “Us generated over $3 billion in global retail sales in 2018. This was achieved in over 900 stores and e-commerce channels in more than 30 countries in Asia, Europe, Africa and the Middle East. In the US, Toys “R “Us and Babies “R “Us have a large following of more than 9.5 million followers via social media channels. “Despite unprecedented efforts to capture US market share over the past Christmas season, there is still a significant gap and consumer demand for Toys “R “Us and Babies “R “Us,” Richard Barry said. “We have the unique opportunity to write the next chapter of Toys “R “Us by introducing a novel omni-channel retail experience for our beloved brands here in the U.S.” The company plans to announce shortly what the exact transformation of the US business will look like.

More than 70 new stores planned this year

What is certain is that foreign business is set to grow massively. Tru Kids relies on partners for this. These include Al Futtaim Sons Co. LLC (UAE), Green Swan (Iberian Peninsula), Keshet-Hypertoy Ltd (Israel), Lotte Shopping Co. Ltd (South Korea), Marketing Services and Commercial Projects Operation Company (Saudi Arabia), Tablez & Toyz Private Ltd. (India) and Toys Holding Ltd. (Labuan) in cooperation with Fung Retailing Ltd. (Asia). Further stores in future markets are to be opened here. This year alone, 70 new stores are planned in Asia, India and Europe. Further e-commerce platforms are also to be developed.

 

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Link: Tru Kids Brands new parent company of Toys “R “Us

Image: Toys “R “Us

//KH