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New Owner Acquires Toys R Us Once Again
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Back in 2017, the closure of the beloved toy store chain Toys R Us left many millennials, myself included, feeling a deep sense of loss. While I may not have children and am somewhat out of touch with current toy trends, Toys R Us held a special place in my heart as a vibrant and exciting world of colorful plastic to explore on special occasions in my youth. Despite attempts by its parent company, Tru Kids, to revive the brand through smaller pop-up stores, success has remained elusive. Perhaps it’s time for a fresh new leader to guide the iconic brand forward.
WHP Global, a company specializing in brand management, has recently acquired a majority stake in Tru Kids, signaling a new chapter for Toys R Us under their ownership. Their vision is to rekindle the magic of Toys R Us and bring back the joy it once brought to millions of children and families.
Yehuda Shmidman, the chairman and CEO of WHP, expressed his enthusiasm for the acquisition in a recent interview, stating, “Toys R Us is a globally recognized and cherished toy brand that holds unparalleled trust in the industry. With the current booming toy market, especially in the U.S., we see immense potential to reignite the brand’s success and reach new heights.”
Exciting news as Toys R Us announces new ownership with plans to reopen stores across the U.S. https://t.co/sGyy0IUaVb
— CNBC (@CNBC) March 15, 2021
Shmidman, who also serves as the Vice Chair of Tru Kids since 2019, has been closely involved in previous revival efforts of the Toys R Us brand, including partnerships with major retailers like Target and Amazon. Despite facing challenges like the impact of COVID-19 on the retail industry, Shmidman remains optimistic about the future of Toys R Us.
“The company has weathered significant challenges, particularly the restructurings and the unprecedented impact of the pandemic. But as we move forward, the possibilities are endless,” Shmidman added.
WHP Global intends to reintroduce Toys R Us stores across the United States ahead of the upcoming holiday season in 2021. Rather than starting with traditional large-scale locations, the strategy will involve a more diversified approach, including pop-up stores, airport outlets, and mini-stores within existing retail spaces, with flagship stores planned for the future.
