Post by Admin on Apr 5, 2018 3:42:51 GMT
icv2.com/articles/news/view/40053/owner-kb-toys-brand-hopes-open-1-000-pop-up-toy-stores
OWNER OF KB TOYS BRAND HOPES TO OPEN 1,000 POP-UP TOY STORES
As Toys 'R' Us Shuts Down Website, Auctions Stores
Posted by Milton Griepp on April 2, 2018 @ 1:59 am CT
Strategic Marks, which acquired the KB Toys trademarks in 2016, is trying to put together a deal to open 1,000 pop-up stores to sell toys this holiday season, according to CNNMoney. The company is seeking alliances with stores that specialize in holiday and pop-up retail, according to the report, including Spencer Spirit Holdings, Go! Retail Group, and Party City Holdco Inc.
“My assumption is that there’s about half a billion dollars worth of toys that have been produced for Toys ‘R’ Us with no place to go, Strategic Marks president Ellia Kassoff told CNNMoney. “That’s a big, big void that we’re hoping to fill up.”
KB Toys shut down in the midst of the global financial crisis, beginning its liquidation in December 2008 (see "Goodby KB Toys"). Toys 'R' Us acquired the KB Toys trademarks in 2009 (see "TRU Acquires KB IP Rights"), and Strategic Marks acquired them in 2016.
Meanwhile, the Toys R Us shutdown is moving fast. The company shut down its websites last week, and stores are running final sales. Auctions of the company’s real estate began last week, with retailers such as Ashley Furniture, Big Lots, and Target among the bidders for some locations, according to CNBC.
OWNER OF KB TOYS BRAND HOPES TO OPEN 1,000 POP-UP TOY STORES
As Toys 'R' Us Shuts Down Website, Auctions Stores
Posted by Milton Griepp on April 2, 2018 @ 1:59 am CT
Strategic Marks, which acquired the KB Toys trademarks in 2016, is trying to put together a deal to open 1,000 pop-up stores to sell toys this holiday season, according to CNNMoney. The company is seeking alliances with stores that specialize in holiday and pop-up retail, according to the report, including Spencer Spirit Holdings, Go! Retail Group, and Party City Holdco Inc.
“My assumption is that there’s about half a billion dollars worth of toys that have been produced for Toys ‘R’ Us with no place to go, Strategic Marks president Ellia Kassoff told CNNMoney. “That’s a big, big void that we’re hoping to fill up.”
KB Toys shut down in the midst of the global financial crisis, beginning its liquidation in December 2008 (see "Goodby KB Toys"). Toys 'R' Us acquired the KB Toys trademarks in 2009 (see "TRU Acquires KB IP Rights"), and Strategic Marks acquired them in 2016.
Meanwhile, the Toys R Us shutdown is moving fast. The company shut down its websites last week, and stores are running final sales. Auctions of the company’s real estate began last week, with retailers such as Ashley Furniture, Big Lots, and Target among the bidders for some locations, according to CNBC.