Toys “R” Us parent company WHP Global will launch the United States toy brand in Mexico for the first time in alliance with the Mexican retail giant El Puerto de Liverpool.
El Puerto de Liverpool, owner of the department store brands Liverpool and Suburbia, told Reforma newspaper that it plans to invest over $100 million pesos (US $5.5 million) in the opening of flagship toy stores in key cities of the country. The first physical store is projected to open by Q3 of 2023.
The agreement also includes the launch of a dedicated e-commerce site.
“We are very proud to be partnering with WHP Global to bring the iconic Toys ‘R’ Us brand to Mexico,” General Manager of Liverpool International and Boutiques Charles Johnson said in a statement.
“At El Puerto de Liverpool, we always seek to bring the best brands and products closer to Mexican families, and we are sure that this new association will add value to them through new spaces and the best and latest options in toys,” Johnson added.
WHP Global acquired Toys “R” Us in 2021 after the brand went bankrupt in 2017, laying off some 33,000 people and shuttering more than 900 stores across the United States.
Since the acquisition, the toy retailer has been steadily recovering and expanding. In 2022, Toys “R” Us doubled its presence thanks to a national rollout in the United States at all Macy’s stores and international launches in India, the United Kingdom and Australia.
According to the Executive Vice President of Toys “R” Us at WHP Global Jamie Uitdenhowen, the expansion into Mexico “marks an exciting new chapter in [the brand’s] history,” he said in a statement, adding that the toy brand is set to become “the go-to toy destination for Mexican families for years to come.”
Market research firm NPD ranks Mexico as the second fastest-growing market in the world for toys and games, valued at US $2.1 billion. Mexican toy stores Juguetrón, Julio Cepeda Jugueterías, and Juguetibici currently represent nearly 50% of the national market.
Commercial Director of WHP Global Stanley Silverstein said that they are excited to arrive in Mexico with a “great partner like El Puerto de Liverpool, one of the largest and most dynamic omnichannel retailers in the world.”
El Puerto de Liverpool is a public company (S.A.B.) registered on the Mexican Stock Exchange. It has 122 department stores across the country bearing the name Liverpool, 172 stores under the name of Suburbia and 115 specialized stores.
With reports from Reforma, El Financiero, Forbes Online and El Universal