The parent firm of Toys“R”Us and Babies“R”Us has agreed a long-term licence agreement with a partner that will see the re-introduction of the chain to the UK market next year.
The toy retailer disappeared from the UK in 2018 after all of its 100 stores were closed due to administrators failing to find a buyer for the failed UK operation.
Toys”R”Us ANZ now has a licence agreement to run “digital and physical retail commerce” for the brand in the UK having restarted the business in Australia two years ago.
“We selected Toys”R”Us ANZ as our partner to expand into the United Kingdom because of their proven success in launching with us in Australia under the leadership of their CEO, Dr. Louis Mittoni,” said Yehuda Shmidman, WHP Global and Toys”R”Us Chairman and CEO.
“Toys”R”Us today is a vibrant business with over 900 stores and e-commerce sites across 25+ countries generating over US$2bn a year in sales and growing, especially with the new launches underway for both the US and UK markets.”
Mittoni added: “My team and I are looking forward to developing technical and commercial relationships with UK-based vendors and partners and to engage with the many loyal Toys”R”Us former customers and fans in the UK.”
A statement from the companies highlighted that the toys and games in the UK was worth £3.3bn last year, representing the largest such market in Europe and the fourth largest globally.
Toys”R”Us ANZ intends to start online sales to UK shoppers over the coming months, initially from existing operations in Australia. It is working to establish local teams, offices and logistics sites during 2022 and 2023 which is expected to lead to the opening of physical stores.
