"It's certainly our intention, to be able to position US consumers with Toys" R "Us and Babies" R "Us this year again," said Richard Barry, former Head of Toys "R" Us who is now Chief Executive Officer of Tru Kids Inc. "A significant portion of the market has been left on the table."
Toys "R" Us sold its operations in the United States, the United Kingdom, Australia and other regions last year after failing to recover from bankruptcy. However, units located in other markets, such as Asia, have remained in business and continue to pay royalties to Tru Kids, essentially a brand licensor, and to purchase private label products. The rest of the business generated $ 3 billion in retail sales last year. Tru Kids is now looking for partners to restore the company's brands in liquidation markets.
The re-emergence of Toys "R" Us and Babies "R" Us in the markets it has left could take many forms, including independent stores, ephemeral stores in other stores or online stores, Barry said. . The overarching goal is to create online, offline and experiential stores – a target for which his predecessor has been criticized for failing, he said.
The company announced Monday that its partners in Asia and Europe will open 70 new stores this year, including several in China. The partners already operate around 900 e-commerce stores and businesses around the world.
During the holiday season, Tru Kids sold private brands, such as Journey Girls, to the American grocery chain Kroger Co., and the company is in talks to continue its partnership this year. said Barry.
Tru Kids is owned by funds led by Solus Alternative Asset Management and Angelo, Gordon & Co.
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