Toys R Us is partnering with a retail chain known for its pop-up shop expertise, and knowledge of retail real estate, to expand the Toys R Us store footprint in this country.
WHP Global, which acquired the Toys R Us brand after the iconic retailer went bankrupt, announced last week that it has a deal with Go! Retail Group to open Toys R Us flagship stores, beginning next year.
The agreement calls for Go! Retail Group to open 24 flagship Toys R Us stores in the United States over the next decade. The first stores are expected to open in time for holiday 2024.
The flagship stores are intended to spread awareness of the reborn Toys R Us, and complement the existing Toys R Us shops located in Macy’s stores.
Go! Retail Group is an Austin, Tx-based company that operates some 100 year-round retail stores, along with hundreds more seasonal pop-up shops.
The company owns Calendars.com and operates stores under the Go! Toys and Games, and Go! Calendars and Games banners. It also operates the teen-focused home decor and pop culture retail chain Attic Salt.
It also has its own wholesale line of toy brands, including Snoozimals and Tiny Headed Kingdom plush dolls.
“Go! Retail Group offers excellence in retail execution, merchandising and marketing,” Jamie Uitdenhowen, Executive Vice President of Toys R Us at WHP Global, said today in an emailed response.
“They really understand the DNA of the Toys”R”Us brand and will be a phenomenal partner to help us bring the Toys”R”Us flagship experience to customers in prime locations throughout the United States,” Uitdenhowen said.
The announcement of the flagship store expansion came last week as Toys R Us is preparing for the opening next month of its first airport store, at the Dallas Fort Worth International Airport. Toys R Us also announced that it is developing a retail store concept for cruise ships, which will sell exclusive cruise-themed merchandise.
“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 out flagships, in an airport, or onboard a cruise ship,” said WHP Global Chairman and CEO Yehuda Shmidman, in announcing the flagship expansion.
WHP Global is a New York-based firm that acquires and manages consumer brands. It also owns the Anne Klein, Joseph Abboud, Isaac Mizrahi, and Bonobos brands as well as other brands and businesses.
Since acquiring the Toys R Us brand in early 2021. WHP Global has found outside partners to run its retail operations, while it concentrates on protecting the iconic Toys R Us name and image.
It opened the first flagship store of the revived brand in December, 2021, at the American Dream mall in East Rutherford, N.J. The store is operated by a separate toy retailer.
Similarly, the more than 400 Toys R Us Shops inside Macy’s department stores, are stocked and staffed by Macy’s, with Toys R Us supervising the branding and imaging.
There are over 1,000 Toys R Us stores in 30 countries outside the United States, which are operating under a licensing agreement with the brand, and remained in business even after the 2017 bankruptcy filing that resulted in the closing of all Toys R Us stores in 2018.
Gideon Schlessinger, CEO of Go! Retail Group, interviewed at the Go! Toys and Games booth at the New York Toy Fair this weekend, said Go! Retail expects the new flagship stores will be 10,000 to 15,000 square feet, and will be located in experiential malls and other high-traffic retail locations.
Go! Retail is hoping to open one or two of the flagships in 2024, Schlessinger said.
Go! Retail has seen firsthand with its own stores that there is demand for in-person shopping experiences, especially in the toy category, and the success of the American Dream flagship shows there is demand for more Toys R Us flagship stores, Schlessinger said.
Read the full article here