An iconic toy retailer is once again proving it won’t fade into obscurity quite so easily as Toys R Us has gained a new owner, and plans to open new stores before the end of the year.
The days of visiting a Toys R Us store have long since passed for most LEGO fans, with consumers shifting to online shopping and the Coronavirus pandemic both lending to the demise of the toy retailer.
However, Brand management company WHP has announced it now has a controlling interest in TRU Kids Brands, the parent company behind Toys R Us, CNBC is reporting.
“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” said Yehuda Shmidman when asked why the company had decided to pursue a controlling interest in TRU Kids Brands.
For the time being, current plans include opening several new locations across North America, preferably before the holiday season as to maximise profits. Supposedly this could come in quite a few forms from flagship locations to airport stores, the latter of which is something that the LEGO Group is also planning.
Most of you will likely be pleased by this news as Toys R Us seems to have gained a new lease of life, with plenty of confidence in its success from WHP. We shall have to see what locations are opened and when, but it sounds like this year will see the second grand return of Toys R Us.