Toys R Us is to be reborn under new parent company Tru Kids Inc.
Trading as Tru Kids Brands, the company will be headed up be a new leadership team and oversee Toys R Us, Babies R Us, Geoffrey – Toys R Us’ famous giraffe mascot – and 20 other established consumer-facing toy and baby brands. Tru Kids was established 20 January 2019.
Led by Richard Barry, the former Global Chief Merchandising Officer at Toys R Us, who will serve as President and CEO, Tru Kids Brands will bring the Toys R Us brand back to US retail, so “the US doesn't have to go through another holiday without these beloved brands”.
Headquartered in New Jersey, he is joined by an experienced management team that includes Matthew Finigan as CFO, James Youngas EVP of Global License Management and General Counsel, and Jean-Daniel Gatignol as SVP of Global Sourcing and Brands.
"Despite unprecedented efforts to capture the US 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," says Richard.
"We have a once-in-a-lifetime opportunity to write the next chapter of Toys"R"Us by launching a newly imagined omni channel retail experience for our beloved brands here in the U.S. In addition, our strong global footprint is led by experienced and passionate operating teams that are 100 per cent focused on growth."
Tru Kids will work with global partners who continue to operate the Toys R Us business around the world, such as venture capital firm Green Swan, which last year bought Toys R Us in Iberia. Other partners will continue operating in the UAE, South Korea, Labuan, India, Israel and Saudi Arabia.
Tru Kids' global partners are set to open 70 stores this year in Asia, India and Europe, as well as develop new e-commerce platforms in several key markets.