Toys R Us is expected to launch an e-commerce site and several stores in the US later this year, according to Bloomberg.
The new Toys R Us stores are expected to be about a third of the size of traditional outlets, but will reportedly include play areas and other experiences. To reduce costs, the stores may use a consignment inventory model, which will allow the company to return items that aren’t sold.
Toys R Us’ former global chief merchandising officer, Richard Barry, has been trying to bring back the chain by pitching his ideas out to toy makers, sources told Bloomberg. Richard is now the CEO of Tru Kids, a new company that took over the Toys R Us brand earlier this year.
In a press release issued in February, Tru Kids Brands said: “Effective 2oth January 2019, the new company, Tru Kids, doing business as Tru Kids Brands, became the proud parent of Toys R Us, Babies R Us, Geoffrey and more than 20 established consumer toy and baby brands.”
The new company will be led by Richard, as well as other experienced toy executives.
“We have a once-in-a-lifetime opportunity to write the next chapter of Toys R Us by launching a newly imagined omnichannel retail experience for our beloved brands here in the US,” Richard said in a statement announcing the plans.
He added that despite unprecedented efforts by other retailers to capture the US market share this past holiday season, there is still a significant gap and huge consumer demand that has been left behind by the demise of Toys R Us. He said that both brands still remain powerful in the marketplace and continue to have brand affinity and loyalty with more than 9.5m followers across their social media channels.
Richard told The Associated Press that while he and his team are still working out all the details on when and how the brand will re-emerge, they do plan to officially relaunch in some form by this holiday season. He also said that e-commerce will play a key role in the brand’s future.