Yehuda Shmidman, chairman and CEO at WHP Global and Toys “R” Us, talks about increasing Toys “R” Us stores and their partnership with Macy’s in the Toy Book’s annual State of the Industry Q&A.
The Toy Book: What is WHP Global’s growth strategy for Toys “R” Us in 2022?
Yehuda Shmidman: Today, you can visit Toys “R” Us stores in Dubai, Tokyo, Beijing, Barcelona, and many other locations across Europe, the Middle East, Asia, and more. In fact, Toys “R” Us today generates more than $2 billion in annual retail sales globally across more than 900 stores and e-commerce sites in more than 25 countries.
Our focus for 2022 is to continue to invest in growth across the world as we look to expand our total retail footprint by more than 50% to more than 1,300 stores total. Our digital presence is of course just as critical, and we are investing there as well to ensure that we have a complete omni experience for consumers everywhere.
More specifically for this coming year, we will be launching more stores inside Macy’s in the U.S.; we will be launching an omnichannel retail presence in the UK; and we will be looking at new innovative expressions of our brand, including NFTs, metaverse partnerships, and more.
We believe that Toys “R” Us is the most beloved toy store in the world, and even more importantly, it’s a brand that we all grew up with and love. The power of the Toys “R” Us brand is that we are all Toys “R” Us kids at heart.
TB: How does WHP Global plan to expand Toys “R” Us’ retail presence in the U.S. in 2022?
YS: This is an exciting time for people who grew up loving Toys “R” Us in the U.S. because it is back, and it’s back in a mega way. First and foremost, the U.S. retail strategy for Toys “R” Us is anchored by our partnership with Macy’s to open more than 400 Toys “R” Us shops inside Macy’s stores throughout the U.S. and online at macys.com/toysrus. American consumers across the country have told us that they want to see Toys “R” Us back in their local communities, and we’re very excited that our partnership with Macy’s will make that happen.
In addition, our first U.S. flagship Toys “R” Us location opened to the public just before the new year at American Dream in New Jersey, and we see this location being an exciting destination for families, especially this year during its first full year of operation. The flagship has two floors and features Geoffrey throughout the experience, a café for kids, and a slide that transports you from the second floor to the first.
All told, 2022 is positioned to be a major year of expansion for Toys “R” Us in the U.S.
This article was originally published in the February 2022 edition of the Toy Book. Click here to read the full issue!
