Target is partnering with Toys R Us’ parent company Tru Kids Brands.
The agreement states that shoppers can shop on the Toys R Us website for their desired items. They can pick them up at Target stores and complete their purchases on the Target website. The Toys R Us website came back online on Tuesday.
Target’s Nikhil Nayar said, “By applying our capabilities in a new way with Toys “R” Us, we can serve even more toy shoppers, drive new growth, and build on our toy leadership.”
Toys R Us filed for bankruptcy in 2017 in the US. It filed for $3 billion which would be used to alleviate its debt and revamp stores. Its US and UK stores were closed in 2018.
At the time, CEO Dave Brandon said that the retail landscape was “increasingly challenging and rapidly changing”. He added that he hoped Toys R Us would “live on for many generations.”
He said the bankruptcy claim was the start of “a new era at Toys ‘R’ Us where we expect that the financial constraints that have held us back will be addressed in a lasting and effective way.”
In October 2018, Tru Kids won the rights to Toys R Us in a bankruptcy court. CEO Richard Barry said, “Our US strategy is to bring back the Toys “R” Us brand in a modern way.”
A spokesperson revealed that Tru Kids wanted to set up two Toys R US location in Texas and New Jersey. By 2020, the locations will be increased to 10.
The financial particulars of the deal between Target and Tru Kids have not been revealed.
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