Toys R Us has officially emerged as a new company.
Effective Jan. 20, Tru Kids Inc., 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 company announced Monday.
Tru Kids will be headquartered in New Jersey with a team of returning Toys R Us employees.
Tru Kids Brands will operate under the leadership of Richard Barry, the former global chief merchandising officer at Toys R Us, as president and chief executive officer along with a management team that includes Matthew Finigan as chief financial officer, James Young as executive vice president of Global License Management and general counsel, and Jean-Daniel Gatignol as senior vice president of Global Sourcing & Brands.
The company also appointed brand management veteran Yehuda Shmidman as vice chairman to advise on global strategy and execution. Shmidman is the CEO of Wave Hill Partners, and the former CEO of Sequential Brands Group.
According to Tru Kids Brands, Toys R Us and Babies R Us generated over $3 billion in global retail sales in 2018 through more than 900 stores and ecommerce businesses in over 30 countries across Asia, Europe, Africa and the Middle East.
In the U.S., Toys R Us and Babies R Us continue to have incredibly strong brand affinity and loyalty with more than 9.5 million followers across their social media channels.