NEW YORK (AP) – A New York-based trademark management firm already owned by Anne Klein and Joseph Oze Aboud has acquired a controlling stake in the parent company of the iconic Toys R Us և Babies R Us brand.
WHP Global co-founder, CEO և CEO Yehuda Shmidman declined to offer the terms of a financial deal with Tru Kids Inc., which closed on Friday.
Tru Kids was created in January 2019 when it acquired the intellectual property of Toys R Us in 2018 during liquidation. Shmidman has been the Vice President of Tru Kids since early 2019.
The deal, announced Monday, comes nearly two months after the closure of the only two Toys R Us stores that were part of a small return attempt by iconic toys in the United States. Both stores, which opened in November 2019, were based in shopping malls.
These steps are taken in the event that, in the wake of the epidemic, physical stores, particularly shopping malls, have suffered from poor customer traffic. However, overall toy sales were a bright spot, up 16% last year as parents wanted to entertain their children while they were at home during the epidemic.
US Toys R Us online business continues to operate. Outside the United States, Toys R Us և Babies R Us generates more than $ 2 billion in annual global retail sales through more than 25 branded e-commerce stores.
“Our investments in Toys R Us reflect our faith and passion for the brand,” said Schmidman. He noted that the US business will consist of both online and physical stores, although the strategy is still under development. But he thinks US business is a billion-plus opportunity.
“Could it be a department store?” Could it be a pop shop? Could it be an airport shop? said Schmidman. “We are studying it all.”
Follow Anne D’Innocenzio: http://twitter.com/ADInnocenzio