Toys R Us Is Returning Four Years After Going Bust
Kids and big kids rejoice: Toys R Us is making a long wished for return four years after going bust.
The beloved toy shop chain relaunched in Australia two years ago, and is now set to open its physical doors in the UK once again.
On October 27, the brand announced it had signed a long-term exclusive licence agreement to relaunch bricks and mortar Toys R Us and Babies R Us stores across the UK, from 2022 onwards.
The iconic store went bust four years back, having been badly hit in the age of online shopping. Like so many traditional physical stores, Toys R Us unfortunately struggled to keep up with online retailers and had no choice but to close up shop.
UK and US branches closed permanently – or so we thought – in 2018, but the Canadian arm managed to keep on going. Toys R Us Canada’s subsequent success, as well as the successful relaunch in Australia, has since proven there’s life in the old giraffe yet.
New York-headquartered brand acquisition and management firm WHP Global has announced that Toys R Us ANZ will preside over the UK operation.
Chairman and CEO of parent company WHP Global and Toys R Us, Yehuda Shmidman, said:
We selected Toys R Us ANZ as our partner to expand into the United Kingdom because of their proven success in launching with us in Australia under the leadership of their CEO, Dr Louis Mittoni.
Toys R Us today is a vibrant business with over 900 stores and e-commerce sites across 25 plus countries generating over $2billion a year in sales and growing, especially with the new launches underway for both the US and UK markets.
Head of Toys R Us ANZ, Louis Mittoni, said:
Since Toys R Us’ return to Australia in June 2019, we have scaled quickly as customers returned to the much-loved brand and our e-commerce model has proven its success.
My team and I are looking forward to developing technical and commercial relationships with UK-based vendors and partners and to engage with the many loyal Toys R Us former customers and fans in the UK.
According to WHP Global, in 2020 the total addressable market for games and toys across the UK was £3.3 billion, a figure which represents the largest market for toys anywhere in Europe, as well as the fourth largest in the world.
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