There are some major shakeups happening in the toy retailer world. On the heels of the news that Toys “R” Us is closing or selling all of its U.S. locations after 70 years in business, another former giant in the field, KB Toys, has announced plans to reopen some of its stores by the 2018 holiday season, though the company shuttered back in 2009.
At the time, Toys “R” Us bought the brand for $2.1 million, hoping to sell some of its toy lines. But in the end, they abandoned KB to the U.S. Trademark Office. Now, Strategic Marks, LLC, has acquired KB Toys and plans to “save the toy industry” by reopening some stores.
“We’re in discussions with many of the toy manufactures, as we try to find out the best way to support them and the 20% loss of the US toy market due to the Toys R Us liquidation. We believe we will have the infrastructure in-place and [hopefully] save the toy industry. If you are a toy manufacturer or distributor, or ex KB Toys associate, please feel free to call us at: 949-424-1664 or email us at: email@example.com. We hope to help the industry and at the same time resurrect the amazing KB Toys name!” Strategic Marks founder Ellia Kassoff wrote in a LinkedIn post.
As for where the new stores might be located, the company is reportedly in talks with Go! Retail Group, Spencer Spirit Holdings and Party City to provide the real estate.
“KB Toys’ specialty was selling discontinued and discounted merchandise,” Chris Byrne, executive director and content director for TTPM, a toy review website, told the New York Post. “I could absolutely see this working, especially with all of the merchandise out there that was earmarked for Toys ‘R’ Us.”
What do you think? Do you have fun memories of shopping at KB Toys and will you check out the new stores?