16:34 h / 2021/04/29
Although the rebrand decision still needs to be ratified by a shareholder vote, it seems likely to be approved.
According to a report in the Australian edition of Inside Retail, Funtastic Limited is planning to rebrand as Toys ‘R’ Us ANZ, as part of the group’s transformation into what it describes as a “digital-first, retail-focused business.”
The change in identity follows the group’s acquisition of the Hobby Warehouse business last November, which brought the Toys ‘R’ Us licence under its control. The deal also prompted a major restructure at the business, with Hobby Warehouse chief executive Louis Mittoni taking charge of Funtastic.