Toys 'R' Us Plans to Open Six US Stores in 2019
Since we last heard the news of a Toys "R" Us return back in February, all had been so calm and quiet...until now that is.
Richard Barry, former Toy "R" Us executive and current CEO of parent company Tru Kids Inc., pitched his vision for the beloved toy brand at an industry conference this week. According to Bloomberg, Tru Kids Inc. gathered a group of vendors to share its forthcoming plans to open half a dozen stores at key locations across the U.S. The launch would also be accompanied by an e-commerce site that could go live as early as the holiday season.
Many former Toys "R" Us and Babies "R" Us stores have already been gobbled up by various other companies (the old Babies "R" Us near me is now a Giant Fitness), and that's because Tru Kids Inc. has no plans to use them. The new locations will measure about 10,000 square feet, roughly a third of the size of the brand’s original big box outlets. Part of that space will also be dedicated to providing fun, in-store experiences for children such as play spaces.
In addition to downsizing, Tru Kids Inc. is also concocting other ways to keep costs down. The brand may opt to seek a consignment arrangement with vendors rather than buy goods from suppliers. That means toymakers will ship goods to them, but only receive payment as their products are purchased.
The many brands and leaders at the conference asked not to be identified as Tru Kids Inc. still has yet to confirm these slated plans. However, Isaac Larian, CEO of MGA Entertainment, which makes Bratz dolls, Little Tikes and L.O.L. Surprise!, commented about the allegations with an optimistic approach. “This market needs a self-standing toy store, that’s for sure,” he said. “We will sell them inventory.”