Great news for UK lovers of all things toy, as Toys R Us and it’s sibbling Babies R Us are returning to the UK market thanks to a deal struck between Toys R Us ANZ and WHP Global.
Toys R Us ANZ Limited and WHP Global, the parent company of Toys R Us and Babies R Us, have announced that they have signed a landmark long-term exclusive licence agreement for Toys R Us ANZ to run digital and physical retail commerce for Toys R Us and Babies R Us in the UK.
Toys R Us ANZ plans to commence online sales to UK shoppers over the next few months, initially from existing operations in Australia, while it works to establish local teams, offices and logistics facilities during 2022 and 2023.
The retailer recently announced a purpose-built, state-of-the-art warehouse distribution and adjoining head office facility located in Victoria. The new premises have been specifically designed and configured to house the company’s headquarters and to accommodate the Company’s medium-term requirements for warehousing and office space as well as a Toys R Us retail experience centre. This includes a significant investment in Autonomous Mobile Robot (AMR) technology to increase capacity and efficiency. The company says that the new centre will enable it to realise its UK growth ambitions, with a further strategy to transfer these technologies and other processes to future locations.
Toys R Us ANZ delivered strong results for the fourth financial quarter, despite the relocation of warehouses between 22nd July and 12th August. The number of orders received via the Toys R Us Australia website during September was 18.4k, representing an increase of 73.5% YoY.
The Company ended the 2021 financial year with a strong balance sheet and is cash self-sufficient. In connection with the licence agreement, Toys R Us ANZ will issue shares to Tru Kids Inc. equal in value to $1.76m, subject to shareholder approval at the Annual General Meeting to take place later this year.
- Hardcover Book
- Ireland, Justina (Author)
- English (Publication Language)
- 272 Pages - 03/01/2022 (Publication Date) - Random House/Star Wars (Publisher)
