“I don’t wanna grow up, I’m a Toys ”R” Us kid.”
It hasn’t been the same since Toys ”R” Us locations began shutting down back in 2017, leading to a complete collapse the following year. Sure, Target, Wal-Mart and other mega-retailers have their own toy aisles, but it’s just not the same as walking into a full-blown warehouse-sized store that’s overflowing with toys.
There was always hope that the brand would be resurrected, especially since the biggest failure came as an online retailer, something that could (potentially) be fixed with the right money behind it.
WHP Global thinks they have what it takes to bring Geoffrey the Giraffe back into children’s lives, announcing today it has acquired a controlling interest in Tru Kids Inc., parent company to the iconic Toys ”R” Us (“TRU”), Babies”R”Us, Geoffrey the Giraffe brands, and more than 20 established related consumer toy and baby brands, explains a press release posted to PRNewswire.
Toys ”R” Us and Babies ”R” Us generate over $2 billion in global retail sales annually through nearly 900 branded stores and ecommerce sites in over 25 countries across North America, Europe, Asia, Africa, Australia, and the Middle East.
WHP is now a significant shareholder of TRU among a group of institutional investors that includes funds managed by Solus Alternative Asset Management and funds managed by the Private Equity Group of Ares Management Corporation.
Going forward, WHP will manage the global TRU business and direct its strategic expansion.
Yehuda Shmidman, Chairman and CEO at WHP noted that part of their relaunch is to fix their digital platform, “This is a natural fit for WHP, as we can leverage our global network and digital platform to help grow Toys ”R” Us and Babies ”R” Us around the world.”
There’s no other information at this time, but it’s a warm feeling knowing that our kids might be able to grow up with Toys ”R” Us in their lives as well.
What are some of your favorite Toys ”R” Us memories?
source https://bloody-disgusting.com/toys/3656106/become-toysrus-kid-iconic-toy-brand-resurrected/
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