Following a turbulent year during which thousands of employees lost their jobs due to Toys R Us ceasing operations in the U.K. and Australia while moving through bankruptcy proceedings in the U.S., word comes today that Geoffrey is being given new troops to command at Tru Kids Brands.
Looking forward, the company’s No. 1 priority will be to “solidify the U.S. retail strategy for Toys ‘R’ Us and Babies ‘R’ Us,” says [president and CEO of Tru Kids Brands and former global chief merchandising officer at Toys ‘R’ Us Richard] Barry. “While I can’t say today what that exact strategy is, we do know that we will have an omnichannel approach that is tech immersive and experiential with a smaller footprint.”
Will this entity be able to capture business from companies like Hasbro that are still feeling the sting of Toys R Us’ decline? We might learn more about that possibility as this news will surely spread during Toy Fair New York week, so stay tuned to TFW2005. Read the full press release here, then sound off on the 2005 boards!