There’s still time to be a Toys “R” Us kid after all.
Several former Toys “R” Us executives are relaunching the company under new name Tru Kids Brands. Tru Kids became the owner of Toys “R” Us, Babies “R” Us, Geoffrey and more than 20 other consumer toy and baby brands, according to a statement from the new company.
All of the “R” Us stores, including in Beavercreek and Miami Twp., closed their doors at the end of June after filing for bankruptcy in September 2017. The company was $5 billion in debt in April 2017.
“Despite unprecedented efforts to capture the U.S. market share this past holiday season, there is still a significant gap and huge consumer demand for the trusted experience that Toys”R”Us and Babies”R”Us delivers,” said Richard Barry, President & CEO of Tru Kids Brands and former global chief merchandising officer at Toys”R”Us.
In 2018, Toys “R” Us and Babies “R” Us generated over $3 billion in sales across 900 stores and e-commerce business in 30 countries. In the United States, the brands have 9.5 million followers across social media, the company said.
The company will open 70 stores this year in Asia, India and Europe and develop new e-commerce platforms in several key markets, according to the statement.
“We have an incredible team focused on bringing Toys”R”Us and Babies”R”Us back in a completely new and reimagined way, so the U.S. doesn’t have to go through another holiday without these beloved brands,” Barry said.