Toy ‘R’ Us has returned from its 2018 demise as Tru Kids Brands, the new parent company of Toys ‘R’ Us, Babies ‘R’ Us and more than 20 toy and baby brands. The new company will be headquartered in New Jersey and run by a team of former Toys ‘R’ Us employees.
Richard Barry, the former Global CMO of Toys ‘R’ Us, will lead Tru Kids as President and CEO. The new parent company’s leadership team also includes:
- Matthew Finigan, CFO;
- James Young, EVP of Global License Management and General Counsel; and
- Daniel Gatignol, SVP of Global Sourcing & Brands.
Even though Toys ‘R’ Us and Babies ‘R’ Us faltered in North America, they generated more than $3 billion in global sales in 2018 across Asia, Europe, Africa and the Middle East. The brands still account for 900 stores and e-Commerce businesses in more than 30 countries.
Tru Kids will work with global partners to open 70 additional stores in Asia, India and Europe this year, as well as launch new e-Commerce platforms in key markets. The expansion may include the brand’s rebirth in the U.S.
“We have a once-in-a-lifetime opportunity to write the next chapter of Toys ’R’ Us by launching a newly imagined omnichannel retail experience for our beloved brands here in the U.S.,” said Richard Barry in a statement. “In addition, our strong global footprint is led by experienced and passionate operating teams that are 100% focused on growth.”
Toys ‘R’ Us unveiled its plans for Asia in December 2018, when the company sold a majority stake in its local operations to a joint venture that includes Fung Retailing for $760 million. Toys ‘R’ Us Asia plans to build stores that are approximately 10,000 square feet in size, compared with the 40,000 square-foot average in the U.S., with 50 locations opening in China.
The toy retailer kicked off its revival in the U.S. through a store-within-a-store partnership with Kroger called Geoffrey’s Toybox. The shops opened in 600 supermarkets during the 2018 holiday season, offering a selection of 35 exclusive toys.