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Home / Business / Toy & # 39; R & # 39; Us wants to return to the United States

Toy & # 39; R & # 39; Us wants to return to the United States



The worried toy company found another life last month as Tru Kids Brands, about half a year after Toys "R" Us closed the last of its stores in the United States. It is now owned by the company's former creditors.
More than 700 US toys "R" US stores were closed last year. But the company opened 900 stores in Europe, Asia and India. The new owners are planning to open another 70 stores abroad – mainly in Asia – by the end of the year. They also consider plans for the US market, including brick and mortar stores and online sales, although it is not clear when a reboot would occur.

"We are very interested in how to bring the brand back to the United States," Richard Barry, CEO of the new company, told CNN Business on Monday. He was the former global chief consultant at Toys "R" Us.

"We're talking to a whole host of different companies, some are existing dealers, some technical companies," Barry added. "We work 24 hours a day, 7 days a week to bring it to life. At this point we are not ready to commit to what can look like."

Tru Kids Brands owners won the rights to the Leker "R" Us brand last October. They also took over the former company's other assets and brands, including Babies "R" Us, Geoffrey the Giraffe and Imaginarium.

Tru Kids Brands has been dabbled in the US since then. The company collaborated with American grocery Kroger ( KR ) to set up "Geoffrey's Toy Box" sections in 600 stores during the holidays. Thirty-five toys were part of the campaign, which featured the iconic Toys "R" Us giraffe mask.

The company is in talks to return to the UK and Australia, where operations also closed last year. But Barry said the US is "clearly more important," since it was where the company started.

Tru Kids Brands says it will hire other veteran leaders from previous toys "R" Us. The company is headquartered in New Jersey, where the former business was also based. "data-src-mini =" // cdn.cnn.com/cnnnext/dam/assets/1

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Several reasons contributed to the fall of the toys "R" Us, but an insurmountable debt burden was at the top of the list. The new company has an advantage since it does not have that burden.
But bringing Toys "R" Us back to the US will not be easy, says Neil Saunders, CEO of GlobalData Retail. The old company struggled to maintain prices that were competitive with big box rivals like Walmart ( WMT ) and Target ( TGT ] TGT ] who both sold more toys than Toys "R" Us. ( AMZN ) and other websites also offer a wide range of toys online, digging into sales in large bookshop stores like Toys "R" Us. 19659003] "I think there is room in the market. Toys" R "We left a very big hole, Saunders said. He added that the question for the new company is how they can compete and make money.

Saunders suggested that Toys "R" Us finds a way to stand out, perhaps by reinventing the experience for parents and giving them a reason to go to the store.


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