Toys R Us Could Soon be Getting its Second Chance
We hate to say we told you so, but…
After roughly half a year since the last U.S. Toy R Us store closed it doors, the beloved retailer is set to make a comeback.
Toys R Us, Babies R Us, Geoffrey and more than 20 established consumer toy and baby brands now fall under the Tru Kids Inc. umbrella, a company that was only established in January of this year. What they may lack in experience, Tru Kids Inc. is making up for in strong leadership.
Richard Barry, former global chief merchandising officer of Toy R Us, will act as president and CEO. Also on the team will be Matthew Finigan as CFO, James Young as EVP of Global License Management & General Counsel, and Jean-Daniel Gatignol as SVP of Global Sourcing & Brands. Brand management veteran Yehuda Shmidman, CEO of Wave Hill Partners, will serve as vice chairman to advise on global strategy and execution.
“We have an incredible team focused on bringing Toys”R”Us and Babies”R”Us back in a completely new and reimagined way, so the U.S. doesn’t have to go through another holiday without these beloved brands,” said Tru Kids President and CEO, Richard Barry.
As far as specific business plans and strategies go, their press release left a lot to be desired. The new owners would like to open about 70 stores overseas, but plans for the US have yet to be determined.
"We have significant interest about how to bring the brand back to the US,” Barry told CNN. “We're talking to a whole series of different companies, some are existing retailers, some tech companies. We're working 24 hours a day, 7 days a week to bring it to life. At this point we're not ready commit to what that might look like."
Bringing Toy R Us back to the US will be no easy feat. Tru Kids will need to find ways to compete with its big box rivals or it will inevitably head down the same path as before.