Plans for a Toys "R" Us relaunch are officially on the cards, CBS News reports. The news comes after the iconic toy store filed for bankruptcy in 2017, shutting down US operations and causing the US to cry over the loss of its collective childhood.

A new company, Tru Kids, now owns the trademarks and brands of Toys "R" Us and Babies "R" Us, including Geoffrey the Giraffe. Richard Barry, ex-Toys "R" Us executive and current CEO of Tru Kids, revealed the company's plans for a relaunch, which will focus on smaller stores and customer experiences rather than aisles stacked with goods.

"The love of the brand, the consumer sentiment, and the fact that there's an untapped need in the market that hasn't been fulfilled led to me wanting to bring this business back," Barry said.

According to reports, new locations will be 10,000 square feet rather than 40,000 square feet. According to CBS, the new stores will focus on spaces that encourage curiosity and play. There will also be a focus on e-commerce, an area the original Toys "R" Us was slow to engage with, which is seen as having been pivotal to the company's downfall first time around.

According to CNBC, Tru Kids is exploring multiple retail experience options for the relaunched business, including standalone stores, pop-ups, and partnerships with other brands. Forbes reports that Tru Kids plans to open 70 stores in Europe, Asia, and India this year.

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