In 2018, the beloved toys retailer closed its doors in all of its stores in the United States and United Kingdom.
Fast forward to 2021, Toys ‘R’ Us parent company, Tru Kids Inc. was bought over by a New York-based brand management company, WHP Global. They plan on leading the toy chain through a strategic expansion, according to a statement to CNBC.
According to the company’s CEO, Yehuda Shmidman, consumer demand for toys is at an all-time high. Thus, it is a great opportunity for them to take advantage of the “very interesting post-Covid” retail experience.
Instead of big box stores like before, the company plans on starting the retail store on a smaller scale. Using new retail formats like special pop-up locations, airport shops or mini-stores inside existing retailers, the company aims to “capture that experience or toys that people are yearning for, but also capture where [people] want to shop”.
The company does not have a specific number or date for locations it plans to open but it will open ahead of the holiday season 2021 to take advantage of surge in mall traffic.
However, that also largely depends on how well vaccination rates are going in the U.S. once we hit Black Friday.