WORLD NEWS

KB Toys’ owner to open 1,000 pop up stores

Published on: 3rd April 2018

Strategic Marks is trying to put together a deal to open 1,000 pop-up stores to sell toys this holiday season.

The company, which acquired the KB Toys trademarks in 2016, is seeking alliances with stores that specialise in holiday and pop-up retail, according to the report, including Spencer Spirit Holdings, Go! Retail Group, and Party City Holdco.

Strategic Marks president Ellia Kassoff, commented: “My assumption is that there’s about half a billion dollars worth of toys that have been produced for Toys R Us with no place to go. That’s a big, big void that we’re hoping to fill up.”

KB Toys shut down in the midst of the global financial crisis, beginning its liquidation in December 2008. Toys R Us acquired the KB Toys trademarks in 2009, and Strategic Marks acquired them in 2016.

Meanwhile, the Toys R Us shutdown is moving fast in the US. The company shut down its websites last week, and stores are running final sales. Auctions of the company’s real estate began last week, with retailers such as Ashley Furniture, Big Lots, and Target among the bidders for some locations, according to CNBC.

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