Toys R Us Opening Again In Another Country
The Toys R Us chain is going to get another shot at life - overseas. A report from the UK has revealed that Toys R Us owner WHP Global has signed a deal with Toys R Us Australia to spearhead the franchise's revival in the UK market. Initial plans are reportedly for Toy R Us to launch an online retail store operation out of Australia in the "next several months"; larger plans for corporate structure and offices, real-life retail stores, and other logistical matters will be put into action in 2022. No word yet on just how many Toys R Us stores are currently being planned to open in the UK.
Back in the summer it was announced that Toys R Us would similarly open an online store in US markets:
"As a Toys"R"Us kid, I could not be more excited to bring this beloved brand that so many of our customers know and love into Macy's online and to our stores across America," said Nata Dvir, Macy's chief merchandising officer. "Our toy business grew exponentially in the past year, with many families looking to inspire their children's imagination and create meaningful moments together. Toys"R"Us is a globally recognized leader in children's toys and our partnership allows Macy's to significantly expand our footprint in that category, while creating more occasions for customers to shop with us across their lifestyles."
Yehuda Shmidman, Chairman & CEO of WHP Global and Toys"R"Us, also added, "Our partnership with Macy's marks the greatly anticipated return of Toys"R"Us in the U.S.A., and changes the retail landscape by combining two beloved retail brands together for consumers across the nation in a completely innovative way. We're thrilled to be launching this new partnership together with Macy's."
It seems that Toys R Us is indeed making a comeback from the banktruptcy filing of former owner Tru Kids back in 2017. It's a movement forward that Shidman believes will be fueled by the power of the Toys R Us brand:
"We're in the brand business, and Toys R Us is the single most credible, trusted and beloved toy brand in the world," Shmidman revealed to CNBC in a previous interview. "We're coming off a year where toys are just on fire. ... And for Toys R Us, the U.S. is really a blank canvas....The restructurings took a big toll on the company, and then Covid is, hopefully, once in a century. But now we're getting past those two things. And the sky's the limit."
Look for Toys R Us sales to start in the US and UK this holiday season, both online and in stores.