Toys”R”Us and Babies”R”Us have reached a long-term licensing agreement with a partner to reintroduce the chain in the UK in 2022.
In the coming months, there will be web sales to UK customers. Although the companies did not provide details about when the shops would open, a joint statement stated that Toys”R”Us ANZ had the license agreement to operate “digital as well as physical retail commerce” for this brand in the UK.
In 2018, the brand closed around 100 stores in the UK. Nearly a quarter of these closures were due to a voluntary agreement between the company and the brand.
After the UK business went into administration, the rest of the company was affected. After an unsuccessful attempt at selling the giant toy retailer as a going concern, it was finally closed.
WHP Global, a New York-based brand acquisition and management company, announced that Toys”R”Us ANZ would manage the UK operation.
Toys”R”Us ANZ was previously known as Funtastic. The chain was relaunched in Australia in 2019.
Yehuda Smidman, chairman of WHP Global & Toys”R”Us said that “Toys”R”Us is a vibrant company with more than 900 stores and online-commerce sites in 25-plus countries. It generates over US$2B in sales per year and is growing especially with the new launches for the UK and US markets.”
Louis Mittoni is the boss of Toys”R”Us ANZ. He stated: “My team, and I are looking forward developing technical and commercial relations with UK-based vendors, partners, and to engage with many loyal Toys”R”Us customers and fans in UK.
According to the companies participating in the partnership, the UK is the largest market for toys in Europe and fourth globally.
Toys”R”Us ANZ plans to begin web sales to UK customers over the next few months. This will be initially through existing operations in Australia. It then works to establish local offices, teams, and logistic sites during 2022-2023.
WHP Global announced in March that it had acquired a controlling stake in Tru Kids Inc. Tru Kids Inc is the parent company to brands like Babies “R”Us or Toys “R”Us.