Just weeks after closing their two retail outlets, WHP announced Monday that it has acquired a controlling interest in Tru Kids, the parent company of Toys ‘R’ Us, Babies ‘R’ Us and Geoffrey the Giraffe brands with plans to open stores before the holiday season.
“We’re in the brand business, and Toys R Us is the single most credible, trusted and beloved toy brand in the world,” WHP chairman and CEO Yehuda Shmidman said. “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.”
Shmidman laid out a plan for Toys R Us stores to reopen in North America sometime ahead of this coming holiday season. These locations could take the form of flagships, pop-ups, airport shops or mini-stores within other retailers, according to the company’s early plans.
Toys ‘R’ Us still has stores in Asia, parts of Europe and Canada under licensing deals with Tru Kids.
