Toys 'R' Us is coming back with new parent company .

mashable.com

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Geoffrey the giraffe and gang are returning to U.S. soil.

Long after toy chain Toys "R" Us' demise in a volatile industry that is seeing consumers shifting from brick and mortar to online shopping, a new group - known as Tru Kids Inc - helmed by former Toys 'R' Us executives is absorbing Toys "R" Us, Babies R Us, and their lanky mascot Geoffrey.

Tru Kids announced in a statement on Monday that it is the new parent company of the famous retail group and will be reopening stores this year.

Somebody bought $1 million worth of toys for local kids as Toys 'R' Us closed for good
The famous toy store is making a return.

“We have an incredible team focused on bringing Toys "R" Us and Babies R Us back in a completely new and reimagined way, so the U.S. doesn’t have to go through another holiday without these beloved brands," Tru Kids CEO Richard Barry, who was the former global chief merchandising officer at Toys 'R' Us said.

The HQ remains in New Jersey with groups of former Toys "R" Us employees joining the fold.

The statement also cited Toys "R" Us' staying brand power that had generated over US$3 billion in global sales last year through over 900 stores in 30 countries across different continents.

A string of new global partners will help scale to the business, including much-needed involvement in e-commerce, in current and emerging markets.

It's not known if Toys "R" Us Asia will operate under the new parent or resume operations on its own, considering that it had severed ties with the-then parent company shortly after bankruptcy.