One time brick and mortar retailer, KB Toys is looking to make a comeback to the US market in the wake of the liquidation of Toys R Us.
Founded in 1922, KB Toys closed for business in 2009. However, almost ten years later, the retailer has declared its plans to return ‘in a way that can survive the modern market.’
The announcement was made on LinkedIn late last week by Ellia Kassoff, the founder of Strategic Marks, KB Toys’ parent company.
“Many of you asked what our plans will be and all we can say is we spent the last six months working on a sustainable model to bring back KB Toys the right way so it can compete with not only the big box stores but online as well,” said Kassoff.
“Our umbrella, Strategic Marks LLC has been very successful brining back many of the most popular products and companies over the last ten years because we follow a very strict formula; [to bring back the experiences we loved as a child, just as you remembered them.]
“With #kbtoys, we had to also look at why they initially failed and to make sure those mistakes won’t be made again. Now, with the closing of Toys R Us so quickly, it caught us by surprise so we have spent the last few days with our team and leaders in the toy industry to figure out how we can accelerate the project so our stores can open for the Christmas season.
“When we are ready, you will be very happy with the results and we believe our model can withstand both online as well as other large competitors for not only the short-term but the long-term as well.”
The retailer is looking to have stores launched ahead of Christmas and generate open positions for some of the affected employees of the Toys R Us closures.
“We understand, we are not just restarting the only other well-known and loved toy chain in the US but hope to find places for those 33,000 jobs which will be lost as Toys R Us closes.
“Please be patient with us over the next few weeks as we get this rolling. In the meantime, if you are a toy manufacturer, supplier, distributor, industry head or ex-KB Toys executive, we want to talk to you.”