PARSIPPANY, NJ - 5 Woodhollow Road in Parsippany has a new tenant - Tru Kids Inc., the revamped and re-emerged, Toys R Us!
One year after liquidating its U.S. stores, former Toys R Us executives announced Monday that the iconic retailer has emerged as a company called Tru Kids Inc., and will be doing business as Tru Kids Brands.
Tru Kids will be run by President and Chief Executive Richard Barry, who previously served as global chief merchandising officer for Toys R Us.
“We have a once-in-a-lifetime opportunity to write the next chapter of Toys R Us by launching a newly imagined omni-channel retail experience for our beloved brands here in the U.S.," Barry said in a statement announcing the plans.
Tru Kids will be based in New Jersey, and its workforce includes a team of former Toys R Us employees, the company said. The company, which in the spring was preparing to leave its longtime headquarters in Wayne, did not say how large its New Jersey team is.
There are plans to open 70 stores under the Tru Kids Inc. brand throughout Asia, India and Europe. There will also be an e-commerce strategy. It is unknown whether the U.S. market will operate under the Tru Kids name or if they will use the traditional Toys R Us name.