Geoffrey’s Comeback: Toys“R”Us to Re-Establish Nationwide Presence
Toys“R”Us, owned by WHP Global, is making a comeback in the U.S. While the company had entered back into the retail fray via a limited number of shop-in-shops and airport stores, the company is now launching flagship stores nationwide beginning next year.
In partnership with Go! Retail Group, Toys”R”Us will build upon its initial return, marked by a 20,000-square-foot flagship store at American Dream in 2021 and 452 store-in-stores at Macy’s locations last year. WHP Global said these locations will serve as “epicenters of immersive fun.” The flagship stores will open in “prime locations,” complementing the existing retail footprints at Macy's.
Additionally, the company is expanding its footprint within the travel space, introducing new retail experiences within airports and cruise ships. The first is slated to open in November at Dallas Fort Worth International Airport in partnership with Duty Free Americas. Within cruise lines, the company plans to feature exclusive cruise-themed merchandise.
"The Toys"R"Us brand is growing fast and our expansion into air, land and sea is a testament to the brand's strength," said Yehuda Shmidman, chairman and CEO of WHP Global, in a statement. "Since acquiring Toys"R"Us, we have increased our global retail footprint by more than 50% with openings in the United States, United Kingdom, India, Dubai, and Mexico.”
“We now have over 1,400 stores and e-commerce sites across 31 countries, and as we head into 2024, we are excited to bring Toys"R"Us to consumers everywhere, whether you're visiting one of our stores at Macy's, at our flagships, in an airport, or onboard a cruise ship," he added.
The iconic toy brand has had a cloudy past, having filed for bankruptcy six years ago after struggling with long-term debt totaling more than $5 billion. The company closed its last stores across the U.S. in June 2018.
The toy company may face roadblocks amid a harsh environment for brick-and-mortar stores, with many well-known companies shuttering locations. However, physical retail continues to hold its value in the market, with many online-only brands now entering the space, and even brands who straddle the digital-physical divide seeing a continued blurring of lines and a need to invest in both to make a mark.
“The ultimate landing spot of digital and direct isn't as clear,” said John Donahue, Nike’s CEO, during a recent earnings call, for example. “We have shifted our channel mix, and that's been a consumer-led and a consumer-driven shift based on the consumers' desire to want to connect with NIKE, both through our digital apps and through our stores.”
