Thursday, June 20, 2019
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Resurge Toys 'R' Us

U.S- Veteran toy 'Toys' R' Us, which last year broke and closed more than 700 stores in the United States, returns to operate in that country and also open new stores in Asia and Europe under a new parent company called Tru Kids.

Tru Kids, established in January, said in a statement that its headquarters will be in New Jersey and that its executive team consists of former employees of the toy company, starting with the president and chief executive, Richard Barry.

Barry, former global sales chief of Toys 'R' Us, said in the note that "despite unprecedented efforts to capture the market share in the United States" that the toymaker left this Christmas, there is a "huge demand for experience." of trust "that it offered.

"We have a unique opportunity to write the next chapter of Toys 'R' Us launching a multichannel and rethinking retail experience for our beloved brands here in the United States," he said in reference to other names managed by Tru Kids, such as Babies 'R' Us and Geoffrey.

Tru Kids follows in the footsteps of Green Swan, the investment company that bought Toys 'R' Us Iberia and operates the toy store's stores in Spain and Portugal, and those of other firms in different markets, which it considers "global partners" .

In the note, said that, through its partners, is ready to "open 70 stores this year in Asia, India and Europe, and develop new e-commerce platforms in key markets."

Barry stressed that the company is focused on recovering Toys 'R' Us and Babies 'R' Us in a way "completely new and rethought so that the United States does not have to go through another Christmas season without these beloved brands".

The toy company founded 70 years ago maintains its "brand power" and in 2018 it invoiced 3 billion dollars from 900 stores and electronic platforms distributed in 30 countries, while today it still has the "loyalty" of 9.5 million followers in the social networks, according to Tru Kids.

He announced that soon he will give more information about his business strategy in the United States, where his headquarters in New Jersey will employ former workers of the company, adding that he has offices in Hong Kong and Shenzhen (China).

In addition to Richard Barry, the Tru Kids executive board has Matthew Finigan as chief financial officer and Yehuda Shmidman, who was CEO of Wave Hill and Sequential Brands, as vice president.

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