It seems like Geoffrey of Toys “R” Us is taking the spotlight in rebranding of the famous store.
As reported previously, the current lenders of Toys “R” Us decided not to auction certain parts of the brand and IP, like the names Toys “R” Us, Babies “R” Us along with Geoffrey himself, opting to relaunch a new toy chain. Now if you remember, Toys “R” Us mascot Geoffrey showed up at the Dallas Toy Preview in a cape with a logo and store name.
While the logo read Geoffrey’s Toy Box, you can read the description of it below.
“Wholesale toy distributor and intellectual property company whose focus is on popular play patterns across trusted brands that kids and parents love. Geoffrey’s Toy Box is a fully outfitted organization with design, development and global sourcing expertise. The portfolio includes popular brands like Journey Girls, Fastlane, True Heroes, You & Me, Imaginarium, Just like Home and more!”
The events had many reps from the company, and they revealed that the plan will be open to many counties under Geoffrey’s Toy Box name by the end of coming November. This has been described as a “shop-within-a-shop” concept, where they will begin by setting themselves up in larger stores.
More was released about the company on the Toys “R” Us website, and you can go through the full press release below.
WAYNE, NJ – October 2, 2018 – Geoffrey, LLC, Toys “R” Us, Inc.’s intellectual property holding company subsidiary, announced today that it is moving forward with a plan for substantially all of its assets to be acquired by a group of investors led by Geoffrey, LLC’s existing secured lenders.
The announcement was made following a five-month marketing effort by Boston-based Consensus, an investment bank retained to market the assets of Geoffrey, LLC, that resulted in several formal and informal proposals to acquire the intellectual property assets. After considering such proposals, it was determined that the proposal from the existing term lenders was meaningfully higher and better than any other global bid or the sum of the bids received on individual assets. The transition of the business to its new owners is pending approval of the United States Bankruptcy Court and all major creditor constituencies are supportive. Geoffrey, LLC thanks all parties that participated in discussions with the company over the prior months, particularly those that submitted proposals, for their thoughtful and diligent engagement.
Geoffrey, LLC, as reorganized, will control a portfolio of intellectual property that includes trademarks, e-commerce assets and data associated with the Toys “R” Us and Babies “R” Us businesses in the United States and all over the world, including a portfolio of over 20 well-known toy and baby brands such as Imaginarium, Koala Baby, Fastlane and Journey Girls. The reorganized company will own rights to the Toys “R” Us and Babies “R” Us brands in all markets globally, with the exception of Canada. It will also become the licensor of the brands to the company’s existing network of franchisees operating in countries across Asia, Europe and the Middle East, and in South Africa.
In addition to continuing to service these markets, the new owners are actively working with potential partners to develop ideas for new Toys “R” Us and Babies “R” Us stores in the United States and abroad that could bring back these iconic brands in a new and re-imagined way. Geoffrey LLC will provide additional detail on this front as it becomes available.