Business

KB Toys plans relaunch in response to Toys ‘R’ Us closures

Once a ubiquitous fixture in the nation’s shopping malls, KB Toys now exists largely in name only as one of the brands owned by the firm Strategic Marks.

In the wake of news that Toys ‘R’ Us is set to close all of its U.S. stores, however, it is now poised to fill the gap ahead of this year’s holiday shopping season.

Strategic Marks President Ellia Kassoff told CNN that there is a “big, big void that we’re hoping to fill,” citing an assumption that “there’s about half a billion dollars worth of toys that have been produced for Toys ‘R’ Us with no place to go.”

The plan will include about 1,000 pop-up retailers across the country opening in time for Black Friday. Though only a temporary response to the 735 Toys ‘R’ Us locations scheduled to close, viable locations could become permanent.

Kassoff said his company is working with toy manufacturers and consulting with other companies with a strong holiday retail presence.

“We’re talking to companies that know how to do it, they have a methodology, they’re used to rolling out stuff real quickly,” he said.

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