In reply to rumours circulating in recent days that Toys”R”US Inc. is threatened by bankruptcy, Danish TOP-TOY, who operates TOYS”R”US in the Nordics, clarifies that a potential bankruptcy will have no effect on the chain of toy stores in Denmark, Norway, Sweden and Finland. TOP-TOY merely has a licensing agreement with Toys”R”Us Inc.
TOP-TOY, who operates the chain of toy stores TOYS”R”US in the Nordics, is not concerned by international rumours regarding bankruptcy.
”We do not assess this to have any consequences to our business in the short run,” says Søren Torp Laursen, Managing Director of TOP-TOY and continues: “The brand is strong in the Nordics, and our relation is merely a licensing agreement. Accordingly, we feel relatively isolated from the current situation.”
TOP-TOY, who also owns BR, bought access to the Toys”R”Us brand in 1996 through a licensing agreement with the American Toys”R”Us Inc., and today has a total of 65 stores across Denmark, Iceland, Finland, Norway and Sweden. A potential bankruptcy on a global level will not change this situation.
Quite the contrary, in reply to a rising demand in the Nordics, TOP-TOY will be opening several new stores during autumn 2017 and is hoping to expand the TOYS”R”US concept behind the stores.
”We are placing a lot of faith in TOYS”R”US here in the Nordics. Within the next year, we will be opening several new stores. We are also working on offering Nordic families with children even more in our existing stores. We have launched the concept BABIES”R”US in a number of Swedish stores. In these stores, parents can buy everything they need for their infants – from prams to changing tables and baby toys. For the moment, it is a concept, we are testing, but we are hoping to expand to the rest of the Nordics soon”, says Søren Torp Laursen.
Hoping the best for the American company
Although the developments in the American company will have no consequences for the TOYS”R”US stores in the Nordics, Søren Torp Laursen of TOP-TOY hopes that the American company weathers the storm.
”A lot of large companies have been through a bankruptcy process in the US and have survived, or have had their brand sold as a part of the process”, says Søren Torp Laursen.
He explains that particularly in markets like Norway, Finland and Iceland the TOYS”R”US brand is strong among consumers. And that accordingly, he hopes to continue operating under the same brand.
“For TOY-TOY, the brand is important. Particularly outside of Denmark and Sweden, where our other brand, BR, is very strong. In Norway, Finland and Iceland, TOYS”R”US is practically synonymous with toys – and because of this, we of course expect to continue under the same brand”, says Søren Torp Laursen.
TOP-TOY is the leading retailer within toys and children’s products in the Nordics and operates the two well-known retail chains BR and TOYS”R”US with approximately 300 stores and 8 web shops. TOP-TOY operates the Nordic TOYS”R”US stores under a licensing agreement with Toys”R”Us Inc. TOP-TOY is founded upon strong values and a passion for playing, an obligation to run a responsible business and a wish to meet and exceed customer expectations. Today, TOP-TOY has approximately 4.000 employees.
For more information, please contact:
Liselotte Gjerdrum Carlsen
VP Communications & Sustainbility
Phone: +45 30673916
Localised versions of the pres release
Read the press release in Danish here.
Read the press release in Swedish here.
Read the press release in Norwegian here.
Read the press release in Finnish here.