With changing habits and interests, we've been hearing a lot about how retail is moving toward being "experiential." This is also leading many brands to get creative in how they connect with families, and that means creating the experiences themselves. For the folks at Whirlpool Corporation, that meant a fresh approach to their World of Whirlpool in Chicago, now open to the public as a new consumer experience center. At the media preview this week, I had the opportunity to experience it first-hand, and my immediate thought is that this is exactly what companies need to be doing because it's going to allow the general public to learn in ways that have in many cases been limited to media or expensive courses. Whirlpool is going well beyond the typical appliance showroom by teaching "life hacks" and culinary literacy that will help people save time, save money, and most importantly - improve the time spent with family.
On this week's episode of the Power Kid Podcast, the featured guest is a familiar one... me. Each week, toy industry veteran Phil Albritton interviews amazing people making amazing things for kids. Toys, games, books, media - he covers it all in the only podcast dedicated to the modern children's entertainment industry. Phil and I had connected over on LinkedIn, and one big question he had was how my career trajectory took me from covering horror movies and entertainment for FANGORIA to penning columns for Sprout Channel's late Sprout Parents site. On the show I explain how all that happened, and discuss a bit of my backstory, from working in retail 20 years ago to entering the world of film & tv to winding up here, covering toys and pop culture for the likes of The Toy Insider, Toy Book and The Pop Insider. We also discuss my deep-dive into the collapse of Toys "R" Us, and close things out with some words about raising kids and parenting in the "gig economy" - where success today is still staring-down an uncertain tomorrow. Check it out on Stitcher, iTunes or in the player below!
As the remains of Toys "R" Us continue to be sold off for scrap here in the U.S., our neighbors to the north have a much brighter picture... the sale of Toys "R" Us Canada to Fairfax Holdings Limited. The sale keeps the iconic Toys "R" Us brand alive in Canada, along with Geoffrey the Giraffe and Babies "R" Us. TRU Canada is now an entirely Canadian-owned and operated business employing more than 4,000 Canadians as the only exclusive coast-to-coast business with over 80 locations dedicated to kids and babies.
The Toys "R" Us saga gets bleaker by the day, and if it's not crystal clear at this point, "saving" the U.S. operations of the company was never in the cards. As I've been saying for awhile, the endgame is that Toys "R" Us as we've known it for the past 70 years is over. The name will eventually live on in a new form as a complete reboot much like we're seeing happen with FAO Schwarz and KB Toys. As for who will own it, that's still a mystery, though as I reported earlier this month, there are people interested - including a group that has the involvement of former TRU CEO Jerry Storch. One player that's out is MGA Entertainment's Isaaac Larian, who tweeted his disappointment after his repeated attempts at salvaging parts of the company were shot down.
Monday, May 14, 2018 marked the end for many employees working at the Toys "R" Us Global Resource Center in Wayne, New Jersey. While "several hundred" staffers are said to have stayed on as the wind-down of the U.S. businesses continues, there's the "highly unusual" early exit of many top executives, including Chairman and CEO David A. Brandon. "Unusual" seems to be the key word as this story just gets weirder... could former CEO Jerry Storch want back in on the Toys "R" Us action?
The Toys "R" Us saga continues, and while this week hasn't been as explosive as some in recent months, there has been some activity worth noting. Earlier this week it was reported that the bid for pieces of Toys "R" Us operations in the U.S. and Canada by MGA Entertainment's Isaac Larian has been rejected for "not meeting the threshold" - a statement that left many to question what exactly that threshold would be. For Canada, we now have a number, and it came via a filing of notice for a stalking horse bidder. Fairfax Financial Holdings Limited has entered into an agreement to buy the Canadian operations for $300M in Canadian dollars - equivalent to about $237M US. Larian's bid for Canadian stores was $215M.