More than four years since having gone defunct following bankruptcy, toy retailer Toys"R"Us has relaunched as a pureplay online retailer in the United Kingdom. The anticipated relaunch of the iconic brand in the UK comes with ASX-listed Toys"R"Us ANZ Limited in the role of exclusive license partner.
The UK relaunch for Toys“R”Us and that of sister company Babies“R”Us comes following the earlier successful relaunch of the chain in Australia, with parent company for the retail chain’s core brand WHP Global acting as a partner for both relaunches.
“This important event is an acknowledgment of our devotion to the Toys“R”Us and Babies“R”Us brands, and testimony to the fantastic working relationship with worldwide brand owner WHP Global,” Dr. Louis Mittoni, CEO and Managing Director of Toys“R”Us ANZ said in a statement, “Tailoring our successful Australian relaunch plan to the UK echoes the success of other e-commerce platform play businesses that have delivered growth and value due to their ability to quickly and cost effectively expand their software, processes, partner relationships and brands into new countries.”
“Since Toys“R”Us’ return to Australia in June 2019, we have scaled quickly as customers returned to the much-loved brand and our e-commerce model has proven its success.”
The news of the relaunch was also celebrated by Toys“R”Us parent company WHP Global, as it further flagged ambitious plans and hopes for the future of the retail franchise.
“The momentum behind the Toys“R”Us brand and its return to key markets including the UK and United States has been phenomenal,” said Yehuda Shmidman, Chairman and CEO of WHP Global and Toys“R”Us, via statement, “We are in early innings for what customers can expect from both Toys“R”Us and Babies“R”Us as we head into 2023.”
ASX trading for Toys”R”Us ANZ Limited was temporarily halted on October 19 in advance of the company’s formal announcement of its UK relaunch, but not before seeing stock prices rise almost 30 cents in two days from October 17 to 19 following the company’s triumphant announcement of FY22 results headlined by a 74 percent increase to total revenue and 93 percent increase to gross profit compared to the previous financial year.
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