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Macy’s Inc (NYSE: M) is bringing back the Toys ‘R’ Us brand to the U.S. market through its e-commerce site and retail store network.
What Happened: Macy’s has announced a new partnership with WHP Global to make the Toys ‘R’ Us merchandise available for U.S. shoppers. The Toys ‘R’ Us product line is now available for sale on the Macy’s website and will be featured in shop-in-shops within 400 Macy’s department stores during 2022.
WHP Global is a New York City-based brand acquisition and management firm that acquired a controlling interest in Tru Kids Inc., the parent company to the Toys ‘R’ Us, Babies ‘R’ Us, Geoffrey the Giraffe brands and more than 20 established related consumer toy and baby brands in March. Tru Kids acquired the brands and intellectual property from Toys ‘R’ Us after it filed for Chapter 11 bankruptcy protection in September 2017.
However, Toys ‘R’ Us was unable to conclude a deal to restructure the $5 billion of long-term debt on its balance sheet and was forced to shutter its 735 stores in the U.S., although it continued to operate more than 900 branded stores in 25 overseas markets that generate over $2 billion in global retail sales.
Why It Happened: Why WHP Global acquired a controlling interest in Tru Kids, initially stated it would open new Toys ‘R’ Us stores in the U.S., albeit through a variety of strategies including pop-up retail and shops within airports rather than a standalone retail outlet.
Yehuda Shmidman, chairman and CEO of WHP Global, noted the partnership with Macy’s “changes the retail landscape by combining two beloved retail brands together for consumers across the nation in a completely innovative way.”
Nata Dvir, Macy’s chief merchandising officer, added the company’s toy business “grew exponentially in the past year, with many families looking to inspire their children’s imagination and create meaningful moments together. Toys ‘R’ Us is a globally recognized leader in children’s toys and our partnership allows Macy’s to significantly expand our footprint in that category while creating more occasions for customers to shop with us across their lifestyles.”
Photo: Raysonho / Wikimedia Commons.
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