Toys “R” Us has a new owner and is taking another shot at establishing a presence in the U.S.
WHP Global, the parent company of the retailer, will open a new two-story flagship store in mid-December inside the American Dream megamall in New Jersey.
The 20,000-square-foot store, which will operate for extended hours in the lead-up to Christmas, will stock a larger selection of popular toys and will include interactive features and product demonstrations. Visitors will have the opportunity to meet Geoffrey the Giraffe, go down a two-story slide and stop at the in-store cafe or ice cream parlor. The new store will be located near the mall’s Nickelodeon Universe Theme Park and DreamWorks Water Park.
“American Dream is a one-of-a-kind unrivaled retail center featuring massive entertainment experiences that make it an ideal destination for families. Debuting our first Toys ’R ’Us flagship here is a no-brainer,” Yehuda Shmidman, WHP Global and Toys “R” Us chairman and CEO, said in a statement. “The Toy ‘R’ Us brand is big and growing fast. Today we have over 900 stores and e-commerce sites operating across 25 countries outside the USA, and now our USA expansion plans are in high gear, propelling us into the next chapter of growth for our global brand.”
The Toys “R” Us news follows an announcement in August that the toy retailer was partnering with Macy’s to make toys available for purchase on macys.com. Macy’s has plans in place to set up Toys “R” us departments in 400 of its stores in 2022.
Many believed that Toys “R” Us was gone for good from the U.S. when previous ownership closed the last two stores in operation. WHP acquired a controlling stake in the toy retailer, which generates $2 billion in annual sales, in March. It also owns the Joe’s Jeans retail business and the Anne Klein, Joseph Abboud and Lotto fashion brands.
- Toys”R”Us Opening Global Flagship at American Dream – Toys”R”Us/PRNewswire
- Macy’s and WHP Global Partner to Bring Universally Beloved Toys”R”Us Brand Back to American Shoppers – Macy’s Inc./WHP Global/Business Wire
- WHP Global Acquires Controlling Stake in Toys”R”Us – WHP Global/PRNewswire
- WHP Global