In the U.S., hearts of both the young and the young at heart broke when iconic children’s toy brand Toys “R” Us filed for bankruptcy and that most of their American and British stores are closing. For the first time, America faced a holiday with an almost empty toy store from the iconic brand.
And although there were attempts with restructuring, the public was faced with the truth that the company could no longer compete against retail giants like Target, or online brands like Amazon when it comes to gift giving. The brand name continues to operate via global licensing, but it was obvious that the U.S. brand can no longer keep up with the times.
Despite this, the iconic toy brand has found new life in Canada, suggesting that it might not be too late for the brand at all.
New partnerships
Toy making remains a complicated business to make a profit and that many do it for the passion of giving children a voice and joy. Some manage to turn it into vast enterprises that people take children to spend an afternoon in to see all the creative things adults have made for them. Miracles happen when it involves children and toys.
In mid-December, at the peak of holiday activities, Toys “R” Us Canada had a chat with Addo Play Limited in England. In a gesture of goodwill, the family-owned Addo Play agreed to a strategic multi-year supply agreement between the brands. Addo Play Limited does a vertical division with The Entertainer UK Limited, so it has plenty of support to proceed with a global toy footprint trading.
With the new partnership, the iconic toy brand will be able to maintain Geoffrey, the giraffe, Toys “R” Us’ famous mascot, bringing with it the joy of toys brought about by the store.
Addo Play Limited is known for creative play ideas that create impressive toys which teach, foster imagination and create fun. A range of complementary toy lines will align to allow 2019 consumers have high-quality toys in mechanical plush, science, dolls, crafts, and compounds sectors as well as the Toys “R” Us offerings.
Addo has been a leading brand for some time in English The Entertainer stores. Those countries without Toys “R” US can view the online website and remain in touch with Geoffrey, the giraffe, as he enters his new playground.
Struggling to remain significant
A canceled bankruptcy auction in the USA markets alerted investors that something new had developed in October 2018 for Toys “R” Us. Toys “R” Us Canada has become 100 percent owned by Fairfax Financial Holdings Limited (OTCMKTS: FRFHF). While exploring new paths to take toys to parents and grandparents, it made lines of Nickelodeon Liquid Lava Putty, Nick Jr Ready Steady Dough, and Pitter Patter Pets amongst others. It found Addo Play as a willing partner to help continue its operations. Housed under The Entertainer, another family business and England’s favorite, these brands are expected to help Toys “R” Us survive.